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:                  28 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:        2,314,578     0.49%      1,823,038     0.39%
(2) Derivatives
    (other
    than options):       556,986     0.12%        302,504     0.06%
(3) Options and
    agreements to
    purchase/sell:     2,285,500     0.49%      1,514,000     0.32%

    TOTAL:             5,157,064     1.09%      3,639,542     0.77%


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       1               54.9700 ZAR
ORD          Purchase       3               54.9400 ZAR
ORD          Purchase       8               54.7500 ZAR
ORD          Purchase       90              54.9900 ZAR
ORD          Purchase       118             55.1400 ZAR
ORD          Purchase       158             55.0100 ZAR
ORD          Purchase       198             55.0700 ZAR
ORD          Purchase       199             54.9600 ZAR
ORD          Purchase       292             55.0900 ZAR
ORD          Purchase       348             55.0500 ZAR
ORD          Purchase       360             54.4200 ZAR
ORD          Purchase       360             54.4600 ZAR
ORD          Purchase       412             55.1600 ZAR
ORD          Purchase       462             55.0600 ZAR
ORD          Purchase       501             55.1900 ZAR
ORD          Purchase       540             54.4400 ZAR
ORD          Purchase       691             54.8200 ZAR
ORD          Purchase       839             54.7900 ZAR
ORD          Purchase       931             55.0300 ZAR
ORD          Purchase       999             54.6500 ZAR
ORD          Purchase       1,073           54.5100 ZAR
ORD          Purchase       1,073           54.6700 ZAR
ORD          Purchase       1,229           54.9500 ZAR
ORD          Purchase       1,302           54.1500 ZAR
ORD          Purchase       1,332           54.8900 ZAR
ORD          Purchase       1,400           4.9340 GBP
ORD          Purchase       1,534           4.9421 GBP
ORD          Purchase       1,538           54.8300 ZAR
ORD          Purchase       1,802           4.9511 GBP
ORD          Purchase       2,000           54.7400 ZAR
ORD          Purchase       2,149           54.6600 ZAR
ORD          Purchase       2,161           55.0400 ZAR
ORD          Purchase       2,360           54.7000 ZAR
ORD          Purchase       2,399           54.6000 ZAR
ORD          Purchase       2,431           54.6200 ZAR
ORD          Purchase       2,655           54.4500 ZAR
ORD          Purchase       2,760           4.9236 GBP
ORD          Purchase       2,984           4.9169 GBP
ORD          Purchase       3,000           54.7200 ZAR
ORD          Purchase       3,218           54.9300 ZAR
ORD          Purchase       3,600           54.8400 ZAR
ORD          Purchase       4,008           54.7300 ZAR
ORD          Purchase       4,146           54.7800 ZAR
ORD          Purchase       4,471           54.8700 ZAR
ORD          Purchase       4,689           55.0200 ZAR
ORD          Purchase       4,800           4.9572 GBP
ORD          Purchase       5,003           54.7700 ZAR
ORD          Purchase       5,032           54.9100 ZAR
ORD          Purchase       6,117           54.8600 ZAR
ORD          Purchase       7,968           4.9910 GBP
ORD          Purchase       8,280           55.0000 ZAR
ORD          Purchase       8,921           4.9312 GBP
ORD          Purchase       8,980           54.9800 ZAR
ORD          Purchase       9,158           54.8800 ZAR
ORD          Purchase       11,083          54.8100 ZAR
ORD          Purchase       11,647          4.9630 GBP
ORD          Purchase       12,848          54.8500 ZAR
ORD          Purchase       13,422          54.7600 ZAR
ORD          Purchase       16,021          54.8000 ZAR
ORD          Purchase       18,803          4.9259 GBP
ORD          Purchase       20,297          54.0000 ZAR
ORD          Purchase       38,772          54.9000 ZAR
ORD          Purchase       78,145          4.9877 GBP
ORD          Purchase       140,000         4.9863 GBP
ORD          Sale           1               55.0100 ZAR
ORD          Sale           27              54.5600 ZAR
ORD          Sale           40              54.9500 ZAR
ORD          Sale           73              54.6000 ZAR
ORD          Sale           129             55.0500 ZAR
ORD          Sale           175             55.0400 ZAR
ORD          Sale           179             54.9600 ZAR
ORD          Sale           186             54.5500 ZAR
ORD          Sale           224             54.8300 ZAR
ORD          Sale           285             55.1600 ZAR
ORD          Sale           404             55.1000 ZAR
ORD          Sale           620             54.9300 ZAR
ORD          Sale           672             54.8600 ZAR
ORD          Sale           715             54.7100 ZAR
ORD          Sale           715             55.1500 ZAR
ORD          Sale           730             54.9400 ZAR
ORD          Sale           799             4.9245 GBP
ORD          Sale           1,000           54.6800 ZAR
ORD          Sale           1,000           54.7000 ZAR
ORD          Sale           1,000           54.8100 ZAR
ORD          Sale           1,073           54.9100 ZAR
ORD          Sale           1,087           54.6500 ZAR
ORD          Sale           1,110           4.9500 GBP
ORD          Sale           1,170           4.9010 GBP
ORD          Sale           1,373           54.4500 ZAR
ORD          Sale           1,517           54.7600 ZAR
ORD          Sale           2,000           54.6600 ZAR
ORD          Sale           2,000           54.6900 ZAR
ORD          Sale           2,067           54.4300 ZAR
ORD          Sale           2,095           54.8900 ZAR
ORD          Sale           2,100           54.7700 ZAR
ORD          Sale           2,121           4.9137 GBP
ORD          Sale           2,280           54.8500 ZAR
ORD          Sale           2,707           4.9313 GBP
ORD          Sale           2,715           54.7400 ZAR
ORD          Sale           2,953           4.9623 GBP
ORD          Sale           3,000           54.6100 ZAR
ORD          Sale           3,084           54.8400 ZAR
ORD          Sale           3,209           54.6700 ZAR
ORD          Sale           3,670           54.4400 ZAR
ORD          Sale           3,851           54.9800 ZAR
ORD          Sale           4,000           54.7200 ZAR
ORD          Sale           4,047           54.7300 ZAR
ORD          Sale           4,229           54.7900 ZAR
ORD          Sale           5,194           54.8800 ZAR
ORD          Sale           5,494           4.9138 GBP
ORD          Sale           6,400           54.9700 ZAR
ORD          Sale           7,811           4.9285 GBP
ORD          Sale           7,841           54.6400 ZAR
ORD          Sale           8,921           4.9308 GBP
ORD          Sale           9,927           55.0000 ZAR
ORD          Sale           10,119          4.9015 GBP
ORD          Sale           11,050          54.8700 ZAR
ORD          Sale           20,414          4.9269 GBP
ORD          Sale           22,836          54.8000 ZAR
ORD          Sale           25,494          4.9720 GBP
ORD          Sale           76,906          4.9497 GBP
ORD          Sale           140,000         4.9863 GBP
ORD          Sale           274,077         4.9595 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                   39             54.7782 ZAR
ORD          CFD            Long                   2,039          54.9721 ZAR
ORD          CFD            Long                   5,494          4.9138 GBP
ORD          CFD            Long                   8,921          4.9308 GBP
ORD          CFD            Long                   14,728         54.8355 ZAR
ORD          CFD            Long                   20,414         4.9269 GBP
ORD          CFD            Long                   36,847         54.6621 ZAR
ORD          CFD            Long                   40,120         54.8866 ZAR
ORD          CFD            Long                   76,906         4.9497 GBP
ORD          CFD            Long                   274,077        4.9595 GBP
ORD          CFD            Long                   305,047        54.7807 ZAR
ORD          CFD            Short                  1,400          4.9340 GBP
ORD          CFD            Short                  2,760          4.9236 GBP
ORD          CFD            Short                  5,302          54.7476 ZAR
ORD          CFD            Short                  7,968          4.9910 GBP
ORD          CFD            Short                  75,518         54.8222 ZAR
ORD          CFD            Short                  78,145         4.9877 GBP
ORD          CFD            Short                  85,630         54.8804 ZAR
ORD          CFD            Short                  93,773         54.7960 ZAR
ORD          CFD            Short                  138,597        54.6956 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:          1 Jun 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:


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.