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Tue 15 Aug 2006, 13:04 Investec Bank Limited - Adjustment to the Exercise
JSE   GRTIVBGRTIVA
 INVS                                                                            
Investec Bank Limited - Adjustment to the Exercise Price as of 14/08/2006       
Investec Variable Strike Warrant:  Adjustment to the Exercise Price as of       
14/08/2006                                                                      
Share                 Growthpoint Properties   Growthpoint Properties         
                        Limited                  Limited (ISIN Code             
                        (ISIN Code               ZAE000081774)                  
                        ZAE000049011)                                           
Initial Exercise      R3.10                    R5.00                          
  Price per Share                                                               
  Adjusted Exercise     R1.26                    R5.01                          
  Price per Share                                                               
New Adjusted Exercise R0.81                    R4.60                          
  Price per Share                                                               
  Expiry Date           18/09/2013               19/07/2016                     
  Expiry Date           1:1                      1:1                            
Conv. Ratio           Call                     Call                           
  Call/Put              European                 European                       
  Style                 25 Million               10 Million                     
  Issue Size            GRTIVA                   GRTIVB                         
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 14 August 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: 15/08/2006 01:04:04 PM Produced by the JSE SENS Department                
                                                                                
                                                                                
                                                                                
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