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Mon 24 Jul 2006, 15:07 Investec Bank Limited - Adjustment to the Exercise
JSE   RDFIVBRDFIVA
 INVS                                                                            
Investec Bank Limited - Adjustment to the Exercise Price as of 24/07/2006       
Investec Variable Strike Warrants:  Adjustment to the Exercise Price as of      
24/07/2006                                                                      
Share                       Redefine Income Fund     Redefine Income        
                                Limited                  Fund Limited           
                                (ISIN Code               (ISIN Code             
                                ZAE000048971)            ZAE000081816)          
Initial Exercise Price per  R1.25                    R2.50                  
    Share                                                                       
    Adjusted Exercise Price     R0.42                    R2.50                  
    per Share                                                                   
New Adjusted Exercise       R0.20                    R2.39                  
    Price 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                    RDFIVA                   RDFIVB                 
As a result of the "Interest Distribution" an adjustment was made to the        
exercise price to ensure the financial position of the warrant holders is       
unprejudiced.  This adjustment was effective from 24 July 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: 24/07/2006 03:07:09 PM Produced by the JSE SENS Department                
                                                                                
                                                                                
                                                                                
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