Rule 8.1- Investec Limited

Investec PLC
06 July 2007


Investec Limited                                      Investec plc
Incorporated in the Republic of South Africa          Incorporated in England and Wales
Registration number 1925/002833/06                    Registration number 3633621
JSE share code: INL                                   JSE share code: INP
ISIN: ZAE000081949                                    ISIN: GB00B17BBQ50

Disclosure in accordance with Rule 8.1 of the UK City Code on Takeovers and Mergers (the 'City Code')


As part of the dual listed company ('DLC') structure, disclosures made pursuant
to requirements applicable to the  London Stock Exchange or the JSE Limited are
released on both exchanges.


We therefore advise of the following in accordance with Rule 8.1 of the City Code:

                                    FORM 8.1

          DEALINGS BY OFFERORS, OFFEREE COMPANIES OR THEIR ASSOCIATES

                  FOR THEMSELVES OR FOR DISCRETIONARY CLIENTS

      (Rules 8.1(a) and (b)(i) of the City Code on Takeovers and Mergers)



1. KEY INFORMATION

+-----------------------------------+-----------------------------------------------------+
|Name of person dealing (Note 1)    |See attached schedule                                |
+-----------------------------------+-----------------------------------------------------+
|Company dealt in                   |INVESTEC LTD                                         |
+-----------------------------------+-----------------------------------------------------+
|Class of relevant security to which|ORDINARY SHARES                                      |
|the dealings being disclosed relate|                                                     |
|(Note 2)                           |                                                     |
|                                   |                                                     |
+-----------------------------------+-----------------------------------------------------+
|Date of dealing                    |See attached schedule                                |
|                                   |                                                     |
+-----------------------------------+-----------------------------------------------------+



2. INTERESTS, SHORT POSITIONS AND RIGHTS TO SUBSCRIBE


(a) Interests and short positions (following dealing) in the class of relevant
security dealt in (Note 3)

+-----------------------------------+-------------------------+---------------------------+
|                                   |          Long           |           Short           |
|                                   |                         |                           |
|                                   |                         |                           |
+-----------------------------------+-------------------------+---------------------------+
|                                   |Number (%)               |Number (%)                 |
|                                   |                         |                           |
|                                   |                         |                           |
+-----------------------------------+-------------------------+---------------------------+
|(1) Relevant securities            |See attached schedule    |0                          |
|                                   |                         |                           |
|                                   |                         |                           |
+-----------------------------------+-------------------------+---------------------------+
|(2) Derivatives (other than        |0                        |0                          |
|options)                           |                         |                           |
|                                   |                         |                           |
|                                   |                         |                           |
+-----------------------------------+-------------------------+---------------------------+
|(3) Options and agreements to      |0                        |0                          |
|purchase/sell                      |                         |                           |
|                                   |                         |                           |
|                                   |                         |                           |
+-----------------------------------+-------------------------+---------------------------+
|Total                              |See attached schedule    |0                          |
|                                   |                         |                           |
|                                   |                         |                           |
+-----------------------------------+-------------------------+---------------------------+


(b) Interests and short positions in relevant securities of the company, other
than the class dealt in (Note 3)

+-----------------------------------+-------------------------+---------------------------+
|Class of relevant security:        |          Long           |           Short           |
|                                   |                         |                           |
|                                   |                         |                           |
+-----------------------------------+-------------------------+---------------------------+
|                                   |Number (%)               |Number (%)                 |
|                                   |                         |                           |
|                                   |                         |                           |
+-----------------------------------+-------------------------+---------------------------+
|(1) Relevant securities            |See attached schedule    |0                          |
|                                   |                         |                           |
|                                   |                         |                           |
+-----------------------------------+-------------------------+---------------------------+
|(2) Derivatives (other than        |0                        |0                          |
|options)                           |                         |                           |
|                                   |                         |                           |
|                                   |                         |                           |
+-----------------------------------+-------------------------+---------------------------+
|(3) Options and agreements to      |0                        |0                          |
|purchase/sell                      |                         |                           |
|                                   |                         |                           |
|                                   |                         |                           |
+-----------------------------------+-------------------------+---------------------------+
|Total                              |See attached schedule    |0                          |
|                                   |                         |                           |
|                                   |                         |                           |
+-----------------------------------+-------------------------+---------------------------+


(c) Rights to subscribe (Note 3)

+-----------------------------------+-----------------------------------------------------+
|Class of relevant security:        |Details                                              |
|                                   |                                                     |
|ORDINARY SHARES                    |                                                     |
+-----------------------------------+-----------------------------------------------------+
|See attached schedule              |                                                     |
+-----------------------------------+-----------------------------------------------------+



3. DEALINGS (Note 4)


(a) Purchases and sales

+-----------------------------+----------------------------+------------------------------+
|Purchase/sale                |Number of securities        |Price per unit (Note 5)       |
|                             |                            |                              |
|                             |                            |                              |
+-----------------------------+----------------------------+------------------------------+
|See attached schedule        |                            |                              |
|                             |                            |                              |
|                             |                            |                              |
+-----------------------------+----------------------------+------------------------------+



(b) Derivatives transactions (other than options)

+----------------+-------------------+---------------------------+------------------------+
|Product name,   |Long/short (Note 6)|Number of securities (Note |Price per unit (Note 5) |
|                |                   |7)                         |                        |
|e.g. CFD        |                   |                           |                        |
+----------------+-------------------+---------------------------+------------------------+
|                |                   |                           |                        |
|                |                   |                           |                        |
|                |                   |                           |                        |
+----------------+-------------------+---------------------------+------------------------+





(c) Options transactions in respect of existing securities

(i) Writing, selling, purchasing or varying

+---------------+-------------+----------------+--------+-----------+--------+-------------+
|Product name,  |Writing,     |Number of       |Exercise|Type, e.g. |Expiry  |Option money |
|               |selling,     |securities to   |        |American,  |        |             |
|e.g. call      |purchasing,  |which the option|price   |European   |date    |paid/received|
|option         |varying etc. |relates (Note 7)|        |etc.       |        |per unit     |
|               |             |                |        |           |        |(Note 5)     |
|               |             |                |        |           |        |             |
+---------------+-------------+----------------+--------+-----------+--------+-------------+
|               |             |                |        |           |        |             |
+---------------+-------------+----------------+--------+-----------+--------+-------------+


(ii) Exercising

+-----------------------------+----------------------------+------------------------------+
|Product name, e.g. call      |Number of securities        |Exercise price per unit (Note |
|option                       |                            |5)                            |
+-----------------------------+----------------------------+------------------------------+
|                             |                            |                              |
|                             |                            |                              |
|                             |                            |                              |
+-----------------------------+----------------------------+------------------------------+


(d) Other dealings (including new securities) (Note 4)

+-----------------------------+----------------------------+------------------------------+
|Nature of transaction (Note  |Details                     |Price per unit (if applicable)|
|8)                           |                            |(Note 5)                      |
|                             |                            |                              |
|                             |                            |                              |
+-----------------------------+----------------------------+------------------------------+
|See attached schedule        |                            |                              |
|                             |                            |                              |
|                             |                            |                              |
+-----------------------------+----------------------------+------------------------------+



4. OTHER INFORMATION


Agreements, arrangements or understandings relating to options or derivatives



+----------------------------------------------------------------------------------------+
|Full details of any agreement, arrangement or understanding between the person          |
|disclosing and any other person relating to the voting rights of any relevant securities|
|under any option referred to on this form or relating to the voting rights or future    |
|acquisition or disposal of any relevant securities to which any derivative referred to  |
|on this form is referenced. If none, this should be stated.                             |
+----------------------------------------------------------------------------------------+
|                                                                                        |
|                                                                                        |
|                                                                                        |
|                                                                                        |
|                                                                                        |
+----------------------------------------------------------------------------------------+



Is a Supplemental Form 8 attached? (Note 9) NO



+--------------------------------------------------+---------------------------------------+
|Date of disclosure                                |6 JULY 2007                            |
|                                                  |                                       |
+--------------------------------------------------+---------------------------------------+
|Contact name                                      |JANE ROAKE                             |
|                                                  |                                       |
+--------------------------------------------------+---------------------------------------+
|Telephone number                                  |020 7597 4453                          |
|                                                  |                                       |
+--------------------------------------------------+---------------------------------------+
|Name of offeree/offeror with which associated     |INVESTEC PLC                           |
+--------------------------------------------------+---------------------------------------+
|Specify category and nature of associate status   |DIRECTOR OF ASSOCIATE                  |
|(Note 10)                                         |                                       |
|                                                  |                                       |
+--------------------------------------------------+---------------------------------------+



Notes


The Notes on Form 8.1 can be viewed on the Takeover Panel's website at
www.thetakeoverpanel.org.uk



Option Dealings

+-------------+-------------+---------------+-------------+-------------+-----------------------+
|Director     |Exercise Date|Product name   |Number of    |Price        |Resultant Holding      |
|             |             |               |shares       |             +------------+----------+
|             |             |               |             |             |Number      |Percentage|
+-------------+-------------+---------------+-------------+-------------+------------+----------+
|David        |27/06/2007   |Staff share    |23,125       |32.90 Rand   |164,875     |0         |
|Lawrence     |             |options - Ltd  |             |             |            |          |
+-------------+-------------+---------------+-------------+-------------+------------+----------+
|David        |27/06/2007   |Staff share    |39,375       |32.90 Rand   |28,875      |0         |
|Lawrence     |             |options - Plc  |             |             |            |          |
+-------------+-------------+---------------+-------------+-------------+------------+----------+
|Larry Waisman|21/06/2007   |Staff share    |470          |32.90 Rand   |5,000       |0         |
|             |             |options - Ltd  |             |             |            |          |
+-------------+-------------+---------------+-------------+-------------+------------+----------+
|Larry Waisman|21/06/2007   |Staff share    |780          |32.90 Rand   |0           |0         |
|             |             |options - Plc  |             |             |            |          |
+-------------+-------------+---------------+-------------+-------------+------------+----------+
|Richard Vardy|4/07/2007    |Staff share    |1,850        |32.90 Rand   |32,510      |0         |
|             |             |options - Plc  |             |             |            |          |
+-------------+-------------+---------------+-------------+-------------+------------+----------+
|Richard Vardy|4/07/2007    |Staff share    |9,400        |£2.10        |32,510      |0         |
|             |             |options - Plc  |             |             |            |          |
+-------------+-------------+---------------+-------------+-------------+------------+----------+
|Alistair     |3/07/2007    |Staff share    |32,180       |£2.10        |185,490     |0         |
|Crowther     |             |options - Plc  |             |             |            |          |
+-------------+-------------+---------------+-------------+-------------+------------+----------+
|Alistair     |3/07/2007    |Staff share    |11,570       |32.90 Rand   |185,490     |0         |
|Crowther     |             |options - Plc  |             |             |            |          |
+-------------+-------------+---------------+-------------+-------------+------------+----------+
|Adam Fletcher|4/07/2007    |Staff share    |295          |32.90 Rand   |2,755       |0         |
|             |             |options - Plc  |             |             |            |          |
+-------------+-------------+---------------+-------------+-------------+------------+----------+
|Adam Fletcher|4/07/2007    |Staff share    |173          |32.90 Rand   |1,625       |0         |
|             |             |options - Ltd  |             |             |            |          |
+-------------+-------------+---------------+-------------+-------------+------------+----------+
|Mike Ryder   |4/07/2007    |Staff share    |3,930        |£2.10        |46,255      |0         |
|Richardson   |             |options - Plc  |             |             |            |          |
+-------------+-------------+---------------+-------------+-------------+------------+----------+
|Mike Ryder   |4/07/2007    |Staff share    |2,320        |32.90Rand    |11,050      |0         |
|Richardson   |             |options - Ltd  |             |             |            |          |
+-------------+-------------+---------------+-------------+-------------+------------+----------+


Share Dealings

+-------------+-------------+-------------+-------------+-------------+------------------------+
|Director     |Dealing date |Purchase/Sale|Number of    |Price        |Resultant Holding       |
|             |             |             |shares       |             +-------------+----------+
|             |             |             |             |             |Number       |Percentage|
+-------------+-------------+-------------+-------------+-------------+-------------+----------+
|David        |27/06/2007   |Sale - Ltd   |23,125       |89.4730 Rand |200,590      |0         |
|Lawrence     |             |             |             |             |             |          |
+-------------+-------------+-------------+-------------+-------------+-------------+----------+
|David        |27/06/2007   |Sale - Plc   |39,375       |90.7911 Rand |959,255      |0         |
|Lawrence     |             |             |             |             |             |          |
+-------------+-------------+-------------+-------------+-------------+-------------+----------+
|Larry Waisman|21/06/2007   |Sale - Ltd   |470          |94.59 Rand   |0            |0         |
+-------------+-------------+-------------+-------------+-------------+-------------+----------+
|Larry Waisman|21/06/2007   |Sale - Plc   |780          |96.66 Rand   |0            |0         |
+-------------+-------------+-------------+-------------+-------------+-------------+----------+
|Richard Vardy|4/07/2007    |Sale - Plc   |1,850        |94.00 Rand   |0            |0         |
+-------------+-------------+-------------+-------------+-------------+-------------+----------+
|Richard Vardy|4/07/2007    |Sale - Plc   |9,400        |£6.75        |0            |0         |
+-------------+-------------+-------------+-------------+-------------+-------------+----------+
|Alistair     |3/07/2007    |Sale - Plc   |32,180       |£6.6284      |0            |0         |
|Crowther     |             |             |             |             |             |          |
+-------------+-------------+-------------+-------------+-------------+-------------+----------+
|Alistair     |3/07/2007    |Sale - Plc   |11,570       |92.00 Rand   |0            |0         |
|Crowther     |             |             |             |             |             |          |
+-------------+-------------+-------------+-------------+-------------+-------------+----------+
|Adam Fletcher|4/07/2007    |Sale - Plc   |295          |96.15 Rand   |0            |0         |
+-------------+-------------+-------------+-------------+-------------+-------------+----------+
|Adam Fletcher|4/07/2007    |Sale - Ltd   |173          |94.45 Rand   |0            |0         |
+-------------+-------------+-------------+-------------+-------------+-------------+----------+
|Mike Ryder   |4/07/2007    |Sale - Plc   |3,930        |£6.795       |0            |0         |
|Richardson   |             |             |             |             |             |          |
+-------------+-------------+-------------+-------------+-------------+-------------+----------+
|Mike Ryder   |4/07/2007    |Sale - Ltd   |2,320        |94.50 Rand   |0            |0         |
|Richardson   |             |             |             |             |             |          |
+-------------+-------------+-------------+-------------+-------------+-------------+----------+



Holdings

+-----------------+----------------+-------------------+
|Director         |Relevant        |Staff Share Options|
|                 |securities      |/ LTIP             |
+-----------------+----------------+-------------------+
|David Lawrence   |Ltd - 200,590   |Ltd -164,875       |
+-----------------+----------------+-------------------+
|David Lawrence   |Plc - 959,255   |Plc - 28,875       |
+-----------------+----------------+-------------------+
|Larry Waisman    |Ltd - 0         |Ltd - 5000         |
+-----------------+----------------+-------------------+
|Larry Waisman    |Plc - 0         |Plc - 0            |
+-----------------+----------------+-------------------+
|Richard Vardy    |Plc - 0         |Plc - 32,510       |
+-----------------+----------------+-------------------+
|Alistair Crowther|Plc - 0         |Plc - 185,490      |
+-----------------+----------------+-------------------+
|Adam Fletcher    |Plc - 0         |Plc - 2,755        |
+-----------------+----------------+-------------------+
|Adam Fletcher    |Ltd - 0         |Ltd - 1,625        |
+-----------------+----------------+-------------------+
|Mike Ryder       |Plc - 0         |Plc - 46,255       |
|Richardson       |                |                   |
+-----------------+----------------+-------------------+
|Mike Ryder       |Ltd - 0         |Ltd - 11,050       |
|Richardson       |                |                   |
+-----------------+----------------+-------------------+
|                 |                |                   |
+-----------------+----------------+-------------------+
|                 |                |                   |
+-----------------+----------------+-------------------+
|                 |                |                   |
+-----------------+----------------+-------------------+
|                 |                |                   |
+-----------------+----------------+-------------------+
|                 |                |                   |
+-----------------+----------------+-------------------+




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