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Mon 12 Nov 2007, 15:11 NEDB - Nedbank Limited - Adjustment To The Terms &
JSE   SHFNBPSHFNBA
 NEDB                                                                            
NEDB - Nedbank Limited - Adjustment To The Terms & Conditions Of The Steinhoff  
                             International Holdings Nedbank Warrant.            
NEDBANK LIMITED                                                                 
Adjustment To The Terms & Conditions Of The Steinhoff International Holdings    
Nedbank Warrant.                                                                
Old Strike Price       24                   18.5                                
New Strike Price       23.3985              18.0363                             
Expiry Date            2008/05/23           2008/05/23                          
Old Conv. Ratio        6                    4                                   
New Conv.Ratio         5.8496               3.8997                              
Call/Put               Call                 Put                                 
Style                  American             European                            
Issue Code             SHFNBA               SHFNBP                              
Isin Code              ZAE000109757         ZAE000109765                        
As a result of the Steinhoff International Holdings return on premium, an       
adjustment will be made to ensure the financial position of the warrant holder  
is unprejudiced by this event. This adjustment will be effective from Monday,   
12 November 2007.                                                               
The Warrant is exercisable only in accordance with the terms & conditions as    
set out in the relevant offering circular.                                      
Date: 12/11/2007 15:11:36 Produced by the JSE SENS Department.                  
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