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Mon 19 Mar 2007, 11:14 INVS - Investec - Variable Strike Warrants: Adjus
JSE   SACIVAHYPIVB
 INVS                                                                            
INVS - Investec - Variable Strike Warrants:  Adjustment to the Exercise Price   
as of 19/03/2007                                                                
Investec Bank Limited                                                           
Investec Variable Strike Warrants:  Adjustment to the Exercise Price as of      
19/03/2007                                                                      
Share                               Hyprop Investments   SA Corporate Real      
                                   Limited              Estate Fund             
(ISIN Code           (ISIN Code              
                                   ZAE000081782)        ZAE000048997)           
                                                                                
Initial Exercise Price per Share    R14.00               R 0.40                 
Adjusted Exercise Price per Share   R12.40               R0.28                  
Expiry Date                         19/07/2016           18/09/2013             
Conv. Ratio                         1:1                  1:1                    
Call/Put                            Call                 Call                   
Style                               European             European               
Issue Size                          5 Million            25 Million             
JSE Code                            HYPIVB               SACIVA                 
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 19 March 2007.  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: 19/03/2007 11:14:53 Produced by the JSE SENS Department.                  
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