Director/PDMR Shareholding

Investec plc

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

As part of the dual listed company structure, Investec plc and Investec Limited
voluntarily notify both the London and Johannesburg Stock Exchanges 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 a PDMR of
Investec plc:

Name of PDMR         Bradley Fried                                           
                                                                             
Date company         18 July 2005                                            
notified                                                                     
                                                                             
Date of transaction  18 July 2005                                            
                                                                             
Class of shares      Investec Limited ordinary shares of ZAR0.001 each       
                                                                             
Nature of            Acquisition                                             
transaction                                                                  
                                                                             
Number of shares     8,860                                                   
                                                                             
Price                ZAR139.98 plus a future liability of ZAR79.00 per share 
                                                                             
Place of transaction Johannesburg                                            

Enquiries:

Richard Vardy

Investec plc Group Company Secretary

+ 44 (0)207 597 4485