Director/PDMR Shareholding

Investec plc - the Company

(Incorporated in the United Kingdom)

(Registration number: 363621)

Share Code: INP

ISIN: GB0031773103

NOTIFICATION OF TRANSACTIONS OF PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES
('PDMR') OR CONNECTED PERSONS

The Company received notification on the 20th September 2005 of the following
transaction by PDMRs:

Name of PDMR                    Mr Steven Heilbron                         
                                                                           
Nature of transaction           Sale of shares pursuant to exercise of     
                                options                                    
                                                                           
Share:                          Investec plc ordinary shares of £0.001 each
                                                                           
No of shares                    11,812                                     
                                                                           
Exercise price                  £10.52 per share                           
                                                                           
Transaction price               £20.51 per share                           
                                                                           
Date of transaction             19 September 2005                          
                                                                           
Place of transaction            London       

                              

Name of PDMR                    Mr Allen Zimbler                           
                                                                           
Nature of transaction           Sale of shares pursuant to exercise of     
                                options                                    
                                                                           
Share                           Investec plc ordinary shares of £0.001 each
                                                                           
No of shares                    7875                                       
                                                                           
Exercise price                  £10.52 per share                           
                                                                           
Transaction price               £20.61 per share                           
                                                                           
Date of transaction             16 September 2005                          
                                                                           
Place of transaction            London                                     

As part of the dual listed company structure, Investec plc and Investec Limited
voluntarily notify both the London Stock Exchange and JSE Limited of those
interests (and changes to those interests) of (i) directors of both entities
and the respective company secretaries, (ii) persons discharging managerial
responsibilities across the group, and (iii) in certain instances the directors
of significant subsidiaries of Investec Limited, in the securities of Investec
plc and Investec Limited which are required to be disclosed under the
Disclosure Rules of the United Kingdom Listing Authority and/or the JSE Listing
Requirements.

Accordingly, we advise of the following transaction in the securities of
Investec Limited, a South African incorporated and listed company, by PDMRs of
Investec plc:

Name of PDMR                  Mr Steven Heilbron                               
                                                                               
Nature of transaction         Sale of shares pursuant to exercise of options   
                                                                               
Share                         Investec Limited ordinary shares of ZAR0.001 each
                                                                               
No of shares                  6938                                             
                                                                               
Exercise price                ZAR164.5 per share                               
                                                                               
Transaction price             ZAR228.4 per share                               
                                                                               
Date of transaction           19 September 2005                                
                                                                               
Place of transaction          Johannesburg                                     



Name of PDMR                  Mr Allen Zimbler                                 
                                                                               
Nature of transaction         Sale of shares pursuant to exercise of options   
                                                                               
Share                         Investec Limited ordinary shares of ZAR0.001 each
                                                                               
No of shares                  4625                                             
                                                                               
Exercise price                ZAR164.5 per share                               
                                                                               
Transaction price             ZAR228 per share                                 
                                                                               
Date of transaction           16 September 2005                                
                                                                               
Place of transaction          Johannesburg                                     

Enquiries:

Richard Vardy

UK Group Company Secretary

[phone]