Form 8.3 - INVESTEC PLC

FORM 8.3

PUBLIC OPENING POSITION DISCLOSURE/DEALING DISCLOSURE BY
A PERSON WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE
Rule 8.3 of the Takeover Code (the "Code")

1.   KEY INFORMATION

(a) Identity of the person whose
    positions/dealings
    are being disclosed:                                    BARCLAYS PLC
(b) Owner or controller of interests and short
    positions disclosed, if different from
    1(a):
    The naming of nominee or vehicle companies
    is insufficient
(c) Name of offeror/offeree in relation to
    whose relevant securities this form
    relates:                                                INVESTEC PLC
    Use a separate form for each
    offeror/offeree
(d) If an exempt fund manager connected with
    an offeror/
    offeree, state this and specify identity
    of offeror/offeree:
(e) Date position held/dealing undertaken:                  24 May 2010
(f) Has the discloser previously disclosed, or              YES
    are they today disclosing, under the Code
    in respect of any other party
    to this offer?
                                                            If YES, specify which:
                                                            Rensburg Sheppards Plc
                                                            Investec Ltd

2.   POSITIONS OF THE PERSON MAKING THE DISCLOSURE

(a)  Interests and short positions in the relevant securities of the offeror or
offeree to which the disclosure relates following the dealing (if any)

Class of relevant security:    ORDINARY

                            Interests             Short positions
                          Number        %          Number        %
(1) Relevant
    securities
    wned and/or
    controlled:        3,048,475     0.65%      2,465,669     0.52%
(2) Derivatives
    (other
    than options):     1,467,968     0.31%        905,243     0.19%
(3) Options and
    agreements to
    purchase/sell:     2,285,500     0.49%      1,514,000     0.32%

    TOTAL:             6,801,943     1.44%      4,884,912     1.04%


All interests and all short positions should be disclosed.

Details of any open derivative or option positions, or agreements to purchase or
sell relevant securities, should be given on a Supplemental Form 8 (Open
Positions).

(b)  Rights to subscribe for new securities (including directors' and other
executive options)

Class of relevant security in relation to which subscription right exists:
Details, including nature of the rights concerned and relevant percentages:

If there are positions or rights to subscribe to disclose in more than one class
of relevant securities of the offeror or offeree named in 1(c), copy table 2(a)
or (b) (as appropriate) for each additional class of relevant security.

3.   DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE

(a)  Purchases and sales

Class of     Purchase/sale  Number of       Price per
relevant                    securities      unit
security
ORD          Purchase       60              53.1600 ZAR
ORD          Purchase       95              52.7300 ZAR
ORD          Purchase       107             53.1400 ZAR
ORD          Purchase       176             53.0500 ZAR
ORD          Purchase       213             52.7200 ZAR
ORD          Purchase       261             52.9600 ZAR
ORD          Purchase       273             53.4800 ZAR
ORD          Purchase       409             52.7100 ZAR
ORD          Purchase       517             53.1500 ZAR
ORD          Purchase       615             53.3200 ZAR
ORD          Purchase       659             52.9200 ZAR
ORD          Purchase       665             53.3400 ZAR
ORD          Purchase       703             53.4100 ZAR
ORD          Purchase       742             52.6400 ZAR
ORD          Purchase       898             53.2800 ZAR
ORD          Purchase       935             52.8800 ZAR
ORD          Purchase       1,000           52.9800 ZAR
ORD          Purchase       1,000           53.0700 ZAR
ORD          Purchase       1,000           53.0900 ZAR
ORD          Purchase       1,000           53.5000 ZAR
ORD          Purchase       1,175           52.8100 ZAR
ORD          Purchase       1,268           52.7000 ZAR
ORD          Purchase       1,321           53.6500 ZAR
ORD          Purchase       1,359           53.2000 ZAR
ORD          Purchase       1,363           53.3800 ZAR
ORD          Purchase       1,436           53.4200 ZAR
ORD          Purchase       1,460           53.1100 ZAR
ORD          Purchase       1,537           53.3900 ZAR
ORD          Purchase       1,603           53.2500 ZAR
ORD          Purchase       1,752           53.0200 ZAR
ORD          Purchase       1,760           52.7500 ZAR
ORD          Purchase       1,832           52.8000 ZAR
ORD          Purchase       2,000           53.1700 ZAR
ORD          Purchase       2,009           52.9100 ZAR
ORD          Purchase       2,016           53.3100 ZAR
ORD          Purchase       2,085           4.7010 GBP
ORD          Purchase       2,107           53.1000 ZAR
ORD          Purchase       2,217           52.9900 ZAR
ORD          Purchase       2,235           53.2700 ZAR
ORD          Purchase       2,326           53.1300 ZAR
ORD          Purchase       2,332           4.7228 GBP
ORD          Purchase       2,487           52.9300 ZAR
ORD          Purchase       2,514           52.8700 ZAR
ORD          Purchase       2,546           53.0300 ZAR
ORD          Purchase       2,556           53.0600 ZAR
ORD          Purchase       2,692           53.3300 ZAR
ORD          Purchase       2,793           53.0800 ZAR
ORD          Purchase       2,993           52.6500 ZAR
ORD          Purchase       3,110           52.8200 ZAR
ORD          Purchase       3,147           53.2400 ZAR
ORD          Purchase       3,159           52.7800 ZAR
ORD          Purchase       4,194           53.0400 ZAR
ORD          Purchase       4,560           52.9000 ZAR
ORD          Purchase       4,634           52.8500 ZAR
ORD          Purchase       5,275           53.3000 ZAR
ORD          Purchase       5,625           53.2900 ZAR
ORD          Purchase       6,077           52.9700 ZAR
ORD          Purchase       7,432           4.6982 GBP
ORD          Purchase       8,004           4.7113 GBP
ORD          Purchase       10,357          53.3500 ZAR
ORD          Purchase       11,971          53.0000 ZAR
ORD          Purchase       15,325          4.7215 GBP
ORD          Purchase       18,483          4.7337 GBP
ORD          Purchase       239,257         4.7052 GBP
ORD          Sale           139             52.8500 ZAR
ORD          Sale           251             52.8700 ZAR
ORD          Sale           286             53.7500 ZAR
ORD          Sale           300             52.9700 ZAR
ORD          Sale           321             53.2000 ZAR
ORD          Sale           417             53.7300 ZAR
ORD          Sale           495             53.4300 ZAR
ORD          Sale           515             53.6600 ZAR
ORD          Sale           608             52.9300 ZAR
ORD          Sale           665             53.8000 ZAR
ORD          Sale           715             53.3200 ZAR
ORD          Sale           800             4.7240 GBP
ORD          Sale           876             4.7311 GBP
ORD          Sale           985             53.4200 ZAR
ORD          Sale           1,000           53.2400 ZAR
ORD          Sale           1,276           53.1400 ZAR
ORD          Sale           1,485           53.6800 ZAR
ORD          Sale           1,492           4.7253 GBP
ORD          Sale           1,565           53.1200 ZAR
ORD          Sale           1,659           53.1300 ZAR
ORD          Sale           1,767           53.3300 ZAR
ORD          Sale           2,107           52.8900 ZAR
ORD          Sale           2,458           53.3800 ZAR
ORD          Sale           2,505           53.6500 ZAR
ORD          Sale           2,872           53.3400 ZAR
ORD          Sale           5,000           53.1500 ZAR
ORD          Sale           5,033           53.3600 ZAR
ORD          Sale           5,572           4.6962 GBP
ORD          Sale           6,243           53.0000 ZAR
ORD          Sale           7,709           53.3500 ZAR
ORD          Sale           7,985           53.2900 ZAR
ORD          Sale           8,881           4.6831 GBP
ORD          Sale           10,813          53.4000 ZAR
ORD          Sale           13,177          4.6953 GBP
ORD          Sale           13,790          4.7262 GBP
ORD          Sale           15,316          53.3100 ZAR
ORD          Sale           22,000          53.5000 ZAR
ORD          Sale           24,168          53.3000 ZAR
ORD          Sale           25,292          4.6780 GBP
ORD          Sale           25,608          4.6746 GBP
ORD          Sale           285,057         4.7006 GBP


(b)  Derivatives transactions (other than options)

Class of     Product        Nature of dealing      Number of      Price
relevant     description    e.g. opening/          reference      per unit
security     e.g. CFD       closing a long/        securities
                            short position,
                            increasing/reducing
                            a long/short position
ORD          CFD            Long                   800            4.7240 GBP
ORD          CFD            Long                   1,000          53.2187 ZAR
ORD          CFD            Long                   7,316          53.1087 ZAR
ORD          CFD            Long                   8,881          4.6831 GBP
ORD          CFD            Long                   25,292         4.6780 GBP
ORD          CFD            Long                   25,608         4.6746 GBP
ORD          CFD            Long                   37,466         53.2658 ZAR
ORD          CFD            Long                   65,510         53.1340 ZAR
ORD          CFD            Long                   230,376        53.1667 ZAR
ORD          CFD            Short                  2,218          53.1142 ZAR
ORD          CFD            Short                  18,483         4.7337 GBP
ORD          CFD            Short                  30,875         53.2653 ZAR
ORD          CFD            Short                  32,417         53.0189 ZAR
ORD          CFD            Short                  239,257        4.7052 GBP
ORD          CFD            Short                  276,158        53.1742 ZAR


(c)  Options transactions in respect of existing securities

(i)  Writing, selling, purchasing or varying

 Class of     Product    Writing,      Number   Exercise       Type     Expiry     Option
 relevant description purchasing,          of      Price       e.g.       date      Money
 security        e.g.    selling,  securities             per unit                  paid/
                 call     varying    to which             American,              received
               option       etc.       option              European              per unit
                                      relates                  etc.


(ii) Exercising

      Class of        Product       Number of        Exercise
      relevant    description      securities           price
      security      e.g. call                        per unit
                       option



(d)  Other dealings (including subscribing for new securities)

       Class of        Nature of         Details        Price per
       Relevant     dealing e.g.                             unit
       security    subscription,                  (if applicable)
                      conversion


The currency of all prices and other monetary amounts should be stated.

Where there have been dealings in more than one class of relevant securities of
the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as
appropriate) for each additional class of relevant security dealt in.

4.   OTHER INFORMATION

(a)  Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or
understanding, formal or informal, relating to relevant securities which may be
an inducement to deal or refrain from dealing entered into by the person making
the disclosure and any party to the offer or any person acting in concert with a
party to the offer:
If there are no such agreements, arrangements or understandings, state "none"



(b)  Agreements, arrangements or understandings relating to options or
derivatives

Details of any agreement, arrangement or understanding, formal or informal,
between the person making the disclosure and any other person relating to:
(i)  the voting rights of any relevant securities under any option; or
(ii) the voting rights or future acquisition or disposal of any relevant
securities to which any derivative is referenced:
If there are no such agreements, arrangements or understandings, state "none"




(c)  Attachments

Is a Supplemental Form 8 (Open Positions) attached?      NO


Date of disclosure:          25 May 2010
Contact name:                Geoff Smith
Telephone number:            020 7116 2913

Public disclosures under Rule 8 of the Code must be made to a Regulatory Information
Service and must also be emailed to the Takeover Panel at [e-mail].
The Panel's Market Surveillance Unit is available for consultation in relation to the Code's
dealing disclosure requirements on [phone].

The Code can be viewed on the Panel's website at www.thetakeoverpanel.org.uk.

SUPPLEMENTAL FORM 8 (OPEN POSITIONS)

DETAILS OF OPEN OPTION AND DERIVATIVE POSITIONS, AGREEMENTS TO
PURCHASE OR SELL ETC.

Note 5(i) on Rule 8 of the Takeover Code (the "Code")

1. KEY INFORMATION

Identity of the person whose positions/dealings
are being disclosed:                                       Barclays PLC.
Name of offeror/offeree in relation to whose
relevant securities this from relates:                     INVESTEC

2. OPTIONS AND DERIVATIVES

Class of   Product       Writing,      Number of    Exercise   Type       Expiry
relevant   description   purchasing,   securities   price                 date
security                 selling,      to which     per unit
                         varying etc   option
                                       relates
ORD        Futures       Purchased     540,800                            16 Sep 2010
ORD        Futures       Selling       -260,000                           17 Sep 2010
ORD        Put Options   Purchased     19,400       47.3000    American   16 Sep 2010
ORD        Put Options   Written       -19,400      59.1300    American   16 Sep 2010
ORD        Call Options  Purchased     19,400       68.0000    American   16 Sep 2010
ORD        Put Options   Purchased     1,234,600    52.0000    American   16 Sep 2010
ORD        Call Options  Purchased     471,300      54.0000    American   17 Jun 2010
ORD        Call Options  Written       -1,234,600   70.0000    American   16 Sep 2010


3. AGREEMENTS TO PURCHASE OR SELL ETC.

Full details should be given so that the nature of the interest or position can be fully
understood: