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JSE   PAPIVA
 INVS                                                                            
    INVS - Investec Bank Limited - Termination of variable strike warrant       
                                                                                
    Investec Bank Limited                                                       

    Investec Stock Warrant                                                      
    Termination of variable strike warrant ("PAPIVA")                           
                                                                                

                                                                                
    Share                         Pangbourne Properties Limited                 
                                  (ISIN Code ZAE000048989)                      
Strike Price                  R0.28                                         
    Expiry Date                   18/09/2013                                    
    Conv. Ratio                   1:1                                           
    Call/Put                      Call                                          
Style                         European                                      
    Issue Size                    25 Million                                    
    JSE Code                      PAPIVA                                        
                                                                                
Investec Bank Limited, as Issuers of the above PAPIVA, Variable Strike      
    Warrant would like to advise holders that as a result of the Dividend       
    exceeding the Strike Price as of 5 April 2007, the above mentioned Variable 
    Strike Warrant has been terminated.                                         
Copies of the offering circular may be obtained from:                       
    Investec Bank Limited                                                       
    100 Grayston Drive                                                          
    Sandown                                                                     
Sandton                                                                     
    2196                                                                        
                                                                                
    For further information contact:                                            
Investec Warrants                                                           
    Tel.: 0860 103 343                                                          
    E-mail: warrants@investec.co.za                                             
    Internet: www.investecwarrants.com                                          

    Sponsor                                                                     
    Investec Securities Limited                                                 
    Member of the JSE                                                           
Registration number. 1972/008905/06)                                        
Date: 10/04/2007 10:42:33 Produced by the JSE SENS Department.

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