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:                  27 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:        2,332,957     0.50%      1,821,885     0.39%
(2) Derivatives
    (other
    than options):       375,164     0.08%        416,221     0.09%
(3) Options and
    agreements to
    purchase/sell:     2,285,500     0.49%      1,514,000     0.32%

    TOTAL:             4,993,621     1.06%      3,752,106     0.80%


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       164             54.1400 ZAR
ORD          Purchase       180             54.0800 ZAR
ORD          Purchase       394             54.0300 ZAR
ORD          Purchase       850             4.8634 GBP
ORD          Purchase       1,092           54.1200 ZAR
ORD          Purchase       1,197           54.1600 ZAR
ORD          Purchase       1,270           4.8549 GBP
ORD          Purchase       1,714           4.8693 GBP
ORD          Purchase       1,756           53.6200 ZAR
ORD          Purchase       1,802           54.2700 ZAR
ORD          Purchase       1,872           54.0600 ZAR
ORD          Purchase       1,898           54.0500 ZAR
ORD          Purchase       2,291           53.9000 ZAR
ORD          Purchase       2,531           4.8545 GBP
ORD          Purchase       3,004           53.5400 ZAR
ORD          Purchase       3,110           54.8900 ZAR
ORD          Purchase       3,197           4.9147 GBP
ORD          Purchase       3,275           54.0900 ZAR
ORD          Purchase       3,801           54.2000 ZAR
ORD          Purchase       4,288           54.0700 ZAR
ORD          Purchase       4,975           53.8500 ZAR
ORD          Purchase       5,042           54.3000 ZAR
ORD          Purchase       6,000           53.3900 ZAR
ORD          Purchase       6,000           54.0100 ZAR
ORD          Purchase       6,525           54.0400 ZAR
ORD          Purchase       8,127           54.1100 ZAR
ORD          Purchase       10,713          54.2500 ZAR
ORD          Purchase       11,934          54.0000 ZAR
ORD          Purchase       13,719          53.7700 ZAR
ORD          Purchase       21,847          54.1000 ZAR
ORD          Purchase       40,761          4.8819 GBP
ORD          Purchase       45,763          4.9026 GBP
ORD          Purchase       197,887         4.8428 GBP
ORD          Sale           105             53.4900 ZAR
ORD          Sale           159             54.5600 ZAR
ORD          Sale           166             4.8380 GBP
ORD          Sale           193             53.5500 ZAR
ORD          Sale           256             53.9600 ZAR
ORD          Sale           394             54.0300 ZAR
ORD          Sale           429             53.8800 ZAR
ORD          Sale           463             4.9249 GBP
ORD          Sale           471             53.5400 ZAR
ORD          Sale           471             53.8600 ZAR
ORD          Sale           500             53.7100 ZAR
ORD          Sale           515             4.8585 GBP
ORD          Sale           655             54.6600 ZAR
ORD          Sale           715             53.7900 ZAR
ORD          Sale           715             53.8400 ZAR
ORD          Sale           715             54.1500 ZAR
ORD          Sale           810             4.7948 GBP
ORD          Sale           927             53.3200 ZAR
ORD          Sale           943             53.7200 ZAR
ORD          Sale           983             54.0600 ZAR
ORD          Sale           1,000           53.4200 ZAR
ORD          Sale           1,091           4.9386 GBP
ORD          Sale           1,096           54.0700 ZAR
ORD          Sale           1,103           53.3100 ZAR
ORD          Sale           1,154           54.1100 ZAR
ORD          Sale           1,173           53.5900 ZAR
ORD          Sale           1,288           54.3600 ZAR
ORD          Sale           1,323           54.1400 ZAR
ORD          Sale           1,539           54.1000 ZAR
ORD          Sale           1,717           54.1800 ZAR
ORD          Sale           1,759           53.5300 ZAR
ORD          Sale           1,792           53.8700 ZAR
ORD          Sale           1,825           4.8447 GBP
ORD          Sale           1,934           54.5500 ZAR
ORD          Sale           1,961           54.6700 ZAR
ORD          Sale           2,000           4.9382 GBP
ORD          Sale           2,254           54.0200 ZAR
ORD          Sale           2,288           54.1700 ZAR
ORD          Sale           2,451           4.8576 GBP
ORD          Sale           2,760           4.9533 GBP
ORD          Sale           2,796           53.8100 ZAR
ORD          Sale           3,157           54.6500 ZAR
ORD          Sale           3,175           54.2200 ZAR
ORD          Sale           3,257           54.0900 ZAR
ORD          Sale           3,359           53.3300 ZAR
ORD          Sale           3,391           53.8900 ZAR
ORD          Sale           3,455           53.6000 ZAR
ORD          Sale           3,497           54.2700 ZAR
ORD          Sale           4,136           53.5100 ZAR
ORD          Sale           4,959           54.7000 ZAR
ORD          Sale           5,223           53.9500 ZAR
ORD          Sale           5,452           54.2000 ZAR
ORD          Sale           5,454           53.8000 ZAR
ORD          Sale           5,871           4.8692 GBP
ORD          Sale           5,876           54.1900 ZAR
ORD          Sale           6,000           53.3900 ZAR
ORD          Sale           6,318           54.5100 ZAR
ORD          Sale           6,506           54.0800 ZAR
ORD          Sale           7,580           54.1200 ZAR
ORD          Sale           7,788           53.8200 ZAR
ORD          Sale           7,801           54.5300 ZAR
ORD          Sale           7,944           54.0500 ZAR
ORD          Sale           8,192           54.0400 ZAR
ORD          Sale           10,729          54.5200 ZAR
ORD          Sale           10,840          53.9900 ZAR
ORD          Sale           13,132          54.0100 ZAR
ORD          Sale           14,235          53.8300 ZAR
ORD          Sale           14,506          4.8132 GBP
ORD          Sale           18,833          54.5900 ZAR
ORD          Sale           33,160          4.8187 GBP
ORD          Sale           39,614          4.8197 GBP
ORD          Sale           42,672          4.9000 GBP
ORD          Sale           45,763          4.9022 GBP
ORD          Sale           50,073          54.8900 ZAR
ORD          Sale           70,915          54.0000 ZAR
ORD          Sale           85,511          4.8610 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                   810            4.7948 GBP
ORD          CFD            Long                   1,961          54.6481 ZAR
ORD          CFD            Long                   2,760          4.9533 GBP
ORD          CFD            Long                   14,872         53.6201 ZAR
ORD          CFD            Long                   39,614         4.8197 GBP
ORD          CFD            Long                   45,763         4.9022 GBP
ORD          CFD            Long                   46,065         54.0515 ZAR
ORD          CFD            Long                   48,488         53.5815 ZAR
ORD          CFD            Long                   85,511         4.8610 GBP
ORD          CFD            Long                   103,465        54.0651 ZAR
ORD          CFD            Long                   120,494        53.9196 ZAR
ORD          CFD            Short                  3,020          54.1381 ZAR
ORD          CFD            Short                  3,197          4.9147 GBP
ORD          CFD            Short                  40,761         4.8818 GBP
ORD          CFD            Short                  42,688         54.1593 ZAR
ORD          CFD            Short                  57,757         53.9984 ZAR
ORD          CFD            Short                  197,887        4.8428 GBP
ORD          CFD            Short                  231,880        53.8634 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?      YES


Date of disclosure:          28 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
Ordinary   Put Option    Purchased     19,400       47.30      American  16/09/2010
Ordinary   Put Option    Written       -19,400      59.13      American  16/09/2010
Ordinary   Call Option   Purchased     19,400       68.00      American  16/09/2010
Ordinary   Future        Written       -260,000                American  17/06/2010
Ordinary   Future        Purchased     540,800                 American  16/09/2010
Ordinary   Call Option   Purchased     471,300      54.00      American  17/06/2010
Ordinary   Call Option   Written       -1,234,600   70,00      American  16/09/2010
Ordinary   Put Option    Purchased     1,234,600    52.00      American  16/09/2010


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:


It is not necessary to provide details on a Supplemental Form (Open Positions) with regard to
contracts for differences ("CFDs") or spread bets.
The currency of all prices and other monetary amounts should be stated.
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.