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:                  25 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:        3,331,025     0.71%      2,292,448     0.49%
(2) Derivatives
    (other
    than options):     1,689,877     0.36%        140,553     0.03%
(3) Options and
    agreements to
    purchase/sell:     2,285,500     0.49%      1,514,000     0.32%

    TOTAL:             7,306,402     1.55%      3,947,001     0.84%


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       77              51.8300 ZAR
ORD          Purchase       200             4.5330 GBP
ORD          Purchase       216             51.5700 ZAR
ORD          Purchase       261             51.5500 ZAR
ORD          Purchase       290             51.9300 ZAR
ORD          Purchase       369             52.1000 ZAR
ORD          Purchase       540             51.7300 ZAR
ORD          Purchase       540             52.0300 ZAR
ORD          Purchase       641             51.6600 ZAR
ORD          Purchase       749             52.0500 ZAR
ORD          Purchase       846             51.2000 ZAR
ORD          Purchase       877             51.7200 ZAR
ORD          Purchase       918             51.3200 ZAR
ORD          Purchase       926             51.5800 ZAR
ORD          Purchase       1,453           51.3000 ZAR
ORD          Purchase       1,574           51.6400 ZAR
ORD          Purchase       1,643           52.0400 ZAR
ORD          Purchase       1,800           52.1900 ZAR
ORD          Purchase       1,851           4.5169 GBP
ORD          Purchase       1,867           51.5900 ZAR
ORD          Purchase       2,020           4.5300 GBP
ORD          Purchase       2,142           51.6100 ZAR
ORD          Purchase       2,229           51.7600 ZAR
ORD          Purchase       2,282           51.5100 ZAR
ORD          Purchase       2,479           52.1200 ZAR
ORD          Purchase       2,599           51.6900 ZAR
ORD          Purchase       2,663           51.6200 ZAR
ORD          Purchase       2,795           51.6700 ZAR
ORD          Purchase       3,036           51.6300 ZAR
ORD          Purchase       3,291           51.8600 ZAR
ORD          Purchase       4,531           51.8000 ZAR
ORD          Purchase       4,765           4.5337 GBP
ORD          Purchase       5,632           4.5205 GBP
ORD          Purchase       5,699           51.6000 ZAR
ORD          Purchase       6,000           51.4900 ZAR
ORD          Purchase       6,751           51.8900 ZAR
ORD          Purchase       6,794           51.6800 ZAR
ORD          Purchase       7,212           51.4100 ZAR
ORD          Purchase       7,531           4.5216 GBP
ORD          Purchase       7,754           51.7100 ZAR
ORD          Purchase       7,998           51.7400 ZAR
ORD          Purchase       8,521           4.5456 GBP
ORD          Purchase       8,712           51.6500 ZAR
ORD          Purchase       9,451           4.5459 GBP
ORD          Purchase       10,894          4.5309 GBP
ORD          Purchase       13,202          4.5210 GBP
ORD          Purchase       13,202          4.5211 GBP
ORD          Purchase       15,359          51.9000 ZAR
ORD          Purchase       17,699          4.5321 GBP
ORD          Purchase       21,403          51.2600 ZAR
ORD          Purchase       23,077          51.7000 ZAR
ORD          Purchase       23,078          4.5315 GBP
ORD          Purchase       23,365          4.5200 GBP
ORD          Purchase       34,493          51.7500 ZAR
ORD          Purchase       78,477          4.5346 GBP
ORD          Sale           10              51.6100 ZAR
ORD          Sale           130             51.6500 ZAR
ORD          Sale           192             51.6300 ZAR
ORD          Sale           307             4.5360 GBP
ORD          Sale           340             51.7400 ZAR
ORD          Sale           360             52.0300 ZAR
ORD          Sale           413             51.6700 ZAR
ORD          Sale           480             51.4700 ZAR
ORD          Sale           500             51.5700 ZAR
ORD          Sale           535             4.5447 GBP
ORD          Sale           545             51.7700 ZAR
ORD          Sale           546             52.0000 ZAR
ORD          Sale           658             4.5203 GBP
ORD          Sale           860             51.6400 ZAR
ORD          Sale           923             51.5900 ZAR
ORD          Sale           933             51.6000 ZAR
ORD          Sale           983             51.7100 ZAR
ORD          Sale           1,305           51.7600 ZAR
ORD          Sale           1,589           51.5400 ZAR
ORD          Sale           1,744           4.5443 GBP
ORD          Sale           1,779           51.9000 ZAR
ORD          Sale           1,800           51.4900 ZAR
ORD          Sale           1,851           4.5165 GBP
ORD          Sale           1,851           4.5169 GBP
ORD          Sale           1,853           51.5100 ZAR
ORD          Sale           2,351           52.0500 ZAR
ORD          Sale           2,782           51.5000 ZAR
ORD          Sale           3,091           51.7500 ZAR
ORD          Sale           3,514           4.5338 GBP
ORD          Sale           4,400           51.5500 ZAR
ORD          Sale           4,487           51.6800 ZAR
ORD          Sale           4,587           51.6900 ZAR
ORD          Sale           4,722           4.5184 GBP
ORD          Sale           11,094          4.5343 GBP
ORD          Sale           11,798          51.5800 ZAR
ORD          Sale           11,875          4.5340 GBP
ORD          Sale           12,895          4.5206 GBP
ORD          Sale           13,202          4.5210 GBP
ORD          Sale           14,381          4.5186 GBP
ORD          Sale           16,117          51.7000 ZAR
ORD          Sale           22,679          4.5204 GBP
ORD          Sale           191,689          4.5140 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                   535            4.5447 GBP
ORD         CFD             Long                   548            51.5606 ZAR
ORD         CFD             Long                   658            4.5203 GBP
ORD         CFD             Long                   962            51.4894 ZAR
ORD         CFD             Long                   1,744          4.5443 GBP
ORD         CFD             Long                   1,851          4.5165 GBP
ORD         CFD             Long                   3,514          4.5338 GBP
ORD         CFD             Long                   14,381         4.5186 GBP
ORD         CFD             Long                   53,282         51.6214 ZAR
ORD         CFD             Long                   171,403        51.4611 ZAR
ORD         CFD             Long                   191,689        4.5140 GBP
ORD         CFD             Short                  1,198          51.6394 ZAR
ORD         CFD             Short                  2,020          4.5300 GBP
ORD         CFD             Short                  3,113          51.9794 ZAR
ORD         CFD             Short                  5,632          4.5205 GBP
ORD         CFD             Short                  23,078         4.5315 GBP
ORD         CFD             Short                  53,880         51.7830 ZAR
ORD         CFD             Short                  54,792         51.6226 ZAR
ORD         CFD             Short                  78,477         4.5346 GBP
ORD         CFD             Short                  113,212        51.2877 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:          26 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       Selling       -260,000                           17 Jun 2010
ORD        Futures       Purchased     540,800                            16 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: