Director Shareholding

Investec PLC
20 August 2004


                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS


1. Name of company

Investec plc


2. Name of director

Alan Tapnack


3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18 or in respect of a non-beneficial
interest

In respect of the holder named in 2 above


4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them (if notified)

Alan Tapnack


5. Please state whether notification relates to a person(s) connected with the
director named in 2 above and identify the connected person(s)

N/A


6. Please state the nature of the transaction. For PEP transactions please
indicate whether general/single co PEP and if discretionary/non discretionary

Disposal of ordinary shares of £0.001 each in Investec plc



7. Number of shares / amount of stock acquired




8. Percentage of issued class




9. Number of shares/amount of stock disposed

   2,277


10. Percentage of issued class

   0.003%


11. Class of security

Ordinary shares of £0.001 each in Investec plc


12. Price per share

ZAR113.50


13. Date of transaction

20th August 2004


14. Date company informed

20th August 2004


15. Total holding following this notification

119,122


16. Total percentage holding of issued class following this notification

0.159%


If a director has been granted options by the company please complete the
following boxes.


17. Date of grant

N/A


18. Period during which or date on which exercisable

N/A


19. Total amount paid (if any) for grant of the option

N/A


20. Description of shares or debentures involved: class, number

N/A


21. Exercise price (if fixed at time of grant) or indication that price is to be
fixed at time of exercise

N/A


22. Total number of shares or debentures over which options held following this
notification

N/A


23. Any additional information

The shares disposed were held in terms of the Investec Limited purchase and
option scheme trust, for which directors have a liability for any related scheme
debt. Mr Tapnack settled his share liability on 20 August 2004 and thereafter
disposed of the shares.
At the same time, Mr Tapnack disposed of 1,337 Investec Limited ordinary shares
of ZAR0.001 each at a price of ZAR113.10.


24. Name of contact and telephone number for queries

Richard Vardy
Group Company Secretary
020 7597 4485


25. Name and signature of authorised company official responsible for making
this notification

As above


Date of Notification

20th August 2004


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for loss of business or loss of profits) arising in contract, tort or otherwise
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it, or from any action or decision taken as a result of using this document or
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