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Mon 6 Mar 2006, 16:46 Nedbank - Adjustments to the terms and conditions
JSE   IMPNBSIMPNBGIMPNBR
 NEDB                                                                            
Nedbank - Adjustments to the terms and conditions of the Nedbank Ltd Impala     
          Platinum warrants.                                                    
Nedbank Ltd                                                                     
ADJUSTMENTS TO THE TERMS AND CONDITIONS OF THE IMPALA PLATINUM WARRANTS.        
Prior                                                                           
terms                                                                           
JSE Code   Exercise   Conversion   Expiry     Exercise   ISIN Code              
Price                              style                             
IMPNBG     R 950.00   150:1        2006/05/04 American   ZAE000074423           
                                              Call                              
IMPNBR     R 780.00   150:1        2006/05/04 European   ZAE000074431           
Put                               
IMPNBS     R 900.00   150:1        2006/07/04 European   ZAE000077558           
                                              Put                               
New terms                                                                       
JSE Code   Exercise   Conversion   Expiry     Exercise   ISIN Code              
           Price                              style                             
IMPNBG     R 901.76   42.31:1      2006/05/04 American   ZAE000074423           
                                              Call                              
IMPNBR     R 740.40   42.31:1      2006/05/04 European   ZAE000074431           
                                              Put                               
IMPNBS     R 854.30   42.31:1      2006/07/04 European   ZAE000077558           
                                              Put                               
As a result of the special dividend an adjustment will be made to ensure the    
financial position of the warrant holder is unprejudiced by this event. The     
warrant is exercisable only in accordance with the terms and conditions as set  
out in the relevant off                                                         
6 March 2006                                                                    
Date: 06/03/2006 04:46:02 PM Produced by the JSE SENS Department                
                                                                                
                                                                                
                                                                                
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