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JSE MTPIVARDFIVAGRYIVAPAPIVAGRTIVA
INVS
Investec Variable Strike Warrants: Adjustment to the Exercise Price as of
02/05/2006
Share Initial Adjusted Expiry Conv. Call Style Issue JSE
Exercise Exercise Date Ratio /Put Size Code
Price Price
per per
Share Share
Allan Gray R1.55 R0.77 18/09/ 1:1 Call Europ 25 GRYI
Property Trust 2013 ean Million VA
(ISIN Code
ZAE000049003)
Growthpoint R3.10 R1.24 18/09/ 1:1 Call Europ 25 GRTI
Properties 2013 ean Million VA
Limited
(ISIN Code
ZAE000049011)
Martprop R1.15 R0.56 18/09/ 1:1 Call Europ 25 MTPI
Property Fund 2013 ean Million VA
(ISIN Code
ZAE000048997)
Pangbourne R3.65 R0.88 18/09/ 1:1 Call Europ 25 PAPI
Properties 2013 ean Million VA
Limited
(ISIN Code
ZAE000048989)
Redefine R1.25 R0.31 18/09/ 1:1 Call Europ 25 RDFI
Income Fund 2013 ean Million VA
Limited
(ISIN Code
ZAE000048971)
As a result of the "Recalculation" an adjustment will be made to the exercise
price to ensure the financial position of the warrant holders is unprejudiced.
This adjustment will be effective from 2 May 2006. 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: 02/05/2006 10:57:02 AM Produced by the JSE SENS Department
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