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Fri 3 Nov 2006, 16:41 Nedbank Limited - Adjustment To The Terms & Condit
JSE   IMPNBVIMPNBJIMPNBUIMPNBK
 NEDB                                                                            
Nedbank Limited - Adjustment To The Terms & Conditions Of Nedbank               
                    Instalment & Warrants                                       
Nedbank Limited                                                                 
Adjustment To The Terms & Conditions Of  Nedbank Instalment & Warrants          
Issue Code    IMPNBJ         IMPNBK        IMPNBU         IMPNBV                
Old Strike    R1400.00       R1450.00      R1100.00       R1200.00              
Price                                                                           
New Strike    R175.00        R181.25       R137.50        R150.00               
Price                                                                           
Style         AMERICAN       AMERICAN      EUROPEAN       EUROPEAN              
              CALL           CALL          PUT            PUT                   
Expiry Date   22/11/2006     20/03/2007    22/11/2006     20/03/2007            
Isin Code     ZAE000082384   ZAE000086443  ZAE000082509   ZAE000086476          
Old Ratio     200            400           160            300                   
New Ratio     25             50            20             37.50                 
New Issue     100000000      100000000     100000000      100000000             
Size                                                                            
Please see the above amendment made to the SENS announcement sent on the        
Tuesday, 31 October 2006. As a result of the 8 for 1 share split for Impala     
Platinum, to ensure the financial position of the warrant holders is            
unprejudiced by this event, the above strike, cover ratio and issue sizes       
adjustments have been made. This adjustment will be effective from the Monday,  
06 November 2006.                                                               
The Warrants are exercisable only in accordance with the terms & conditions as  
set out in the relevant offering circular.                                      
Date: 03/11/2006 04:41:38 PM Produced by the JSE SENS Department                
                                                                                
                                                                                
                                                                                
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