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Mon 7 May 2007, 14:07 INVS - Investec - Amendment: Variable Strike Warra
JSE   GRTIVBSACIVAGRYIVASYCIVBGRTIVAGRYIVBHYPIVB
 INVS                                                                            
INVS - Investec - Amendment: Variable Strike Warrants:  Adjustment to the       
Exercise Price as of 07/05/2007                                                 
Investec Bank Limited                                                           
Investec Variable Strike Warrants:  Adjustment to the Exercise Price as of      
07/05/2007                                                                      
Share                    Growthpoint Properties      Growthpoint Properties     
                        Limited                     Limited                     
(ISIN Code ZAE000049011)    (ISIN Code ZAE000081774)    
Initial Exercise Price   R3.10                       R5.00                      
per Share                                                                       
Adjusted Exercise Price  R0.31                       R4.41                      
per Share                                                                       
Expiry Date              18/09/2013                  19/07/2016                 
Conv. Ratio              1:1                         1:1                        
Call/Put                 Call                        Call                       
Style                    European                    European                   
Issue Size               25 Million                  10 Million                 
JSE Code                 GRTIVA                      GRTIVB                     
                                                                                
Share                    Allan Gray Property Trust   Allan Gray Property Trust  
                        (ISIN Code ZAE000049003)    (ISIN Code ZAE000081766)    
Initial Exercise Price   R1.55                       R2.50                      
per Share                                                                       
Adjusted Exercise Price  R0.36                       R2.46                      
per Share                                                                       
Expiry Date              18/09/2013                  19/07/2016                 
Conv. Ratio              1:1                         1:1                        
Call/Put                 Call                        Call                       
Style                    European                    European                   
Issue Size               25 Million                  10 Million                 
JSE Code                 GRYIVA                      GRYIVB                     

Share                    Hyprop Investments          SA Corporate Real Estate   
                        Limited                     Fund                        
                        (ISIN Code ZAE000081782)    (ISIN Code ZAE000048997)    
Initial Exercise Price   R14.00                      R0.40                      
per Share                                                                       
Adjusted Exercise Price  R12.54                      R0.29                      
per Share                                                                       
Expiry Date              19/07/2016                  18/09/2013                 
Conv. Ratio              1:1                         1:1                        
Call/Put                 Call                        Call                       
Style                    European                    European                   
Issue Size               5 Million                   25 Million                 
JSE Code                 HYPIVB                      SACIVA                     
                                                                                
Share                    Sycom Property Fund                                    
(ISIN Code ZAE000081824                                 
Initial Exercise Price   R8.00                                                  
per Share                                                                       
Adjusted Exercise Price  R7.91                                                  
per Share                                                                       
Expiry Date              19/07/2016                                             
Conv. Ratio              1:1                                                    
Call/Put                 Call                                                   
Style                    European                                               
Issue Size               5 Million                                              
JSE Code                 SYCIVB                                                 
As a result of the Recalculation an adjustment was made to the exercise price to
ensure the financial position of the warrant holders is unprejudiced.  This     
adjustment was effective from 7 May 2007.  The warrant is exercisable only in   
accordance with the terms and conditions as set out in the relevant offering    
circular.                                                                       
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.: 286-4742                                                                  
E-mail: warrants@investec.co.za                                                 
Internet: www.investecwarrants.com                                              
Sponsor                                                                         
Investec Securities Limited                                                     
Member of the JSE                                                               
Registration number. 1972/008905/06)                                            
Date: 07/05/2007 14:07:01 Produced by the JSE SENS Department.
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