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Mon 11 Sep 2006, 13:59 Investec - Variable Strike Warrants: Adjustment t
JSE   HYPIVB
 INVS                                                                            
Investec - Variable Strike Warrants:  Adjustment to the Exercise Price          
           as of 11/09/2006                                                     
Investec Variable Strike Warrants:  Adjustment to the Exercise Price as of      
11/09/2006                                                                      
Share                             Hyprop Investments Limited (ISIN              
                                  Code ZAE000081782)                            
Initial Exercise Price per Share  R14.00                                        
Adjusted Exercise Price per       R14.14                                        
Share                                                                           
New Adjusted Exercise Price per   R13.05                                        
Share                                                                           
Expiry Date                       19/07/2016                                    
Conv. Ratio                       1:1                                           
Call/Put                          Call                                          
Style                             European                                      
Issue Size                        5 Million                                     
JSE Code                          HYPIVB                                        
As a result of the "Interest Distribution" 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 11 September 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: 11/09/2006 01:59:23 PM Produced by the JSE SENS Department                
                                                                                
                                                                                
                                                                                
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