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Mon 4 Dec 2006, 12:17 Investec Bank Limited - Variable Strike Warrants
JSE   SYCIVB
 INVS                                                                            
Investec Bank Limited - Variable Strike Warrants                                
Investec Variable Strike Warrants:  Adjustment to the Exercise Price as of      
04/12/2006                                                                      
Share                                   Sycom Property Fund (ISIN Code          
                                        ZAE000081824                            
Initial Exercise Price per Share        R8.00                                   
Adjusted Exercise Price per Share       R8.25                                   
New  Adjusted Exercise Price per Share  R7.64                                   
Expiry Date                             19/07/2016                              
Conv. Ratio                             1:1                                     
Call/Put                                Call                                    
Style                                   European                                
Issue Size                              5 Million                               
JSE Code                                SYCIVB                                  
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 4 December 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: 04/12/2006 12:17:15 PM Produced by the JSE SENS Department                
                                                                                
                                                                                
                                                                                
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