Interim Management Statement

Investec PLC
14 February 2008


Investec Limited                              Investec plc
Incorporated in the Republic of South Africa  Incorporated in England and Wales
Registration number 1925/002833/06            Registration number 3633621
JSE share code: INL                           JSE share code: INP
ISIN: ZAE000081949                            ISIN: GB00B17BBQ50

As part of the dual listed company ('DLC') structure, Investec plc and Investec
Limited notify both the London Stock Exchange and the JSE Limited of matters
which are required to be disclosed under the Disclosure and Listing Rules of the
United Kingdom Listing Authority (the 'UKLA') and/or the JSE Listing
Requirements.


Accordingly we advise of the following:

Investec plc - Interim Management Statement

14 February 2008


This Interim Management Statement is issued by Investec in accordance with the
UK Listing Authority's Disclosure and Transparency rules. Unless stated
otherwise, this statement relates to the period from 1 April 2007 to 31 December
2007.

Overview of operating fundamentals

Operating fundamentals across the group for the period ended 31 December 2007
continued the trends reported for the 6 months ended 30 September 2007. The
group's South African and Australian operations performed strongly whilst the
group's UK operations posted results moderately behind the comparative period in
the prior year. Since 31 March 2007 core loans and advances grew by 34.5% to
£13.4 billion, customer deposits grew by 25.4% to £11.8 billion and third party
assets under management increased by 7.9% to £60.5 billion supporting solid
growth in net interest income, fees and commissions.


Although trading conditions have weakened in all three core geographies since 31
December 2007 we do expect to deliver growth in adjusted EPS for the year ended
31 March 2008.

The group assesses its performance against five key growth and financial return
objectives (namely EPS growth, ROE, dividend cover, cost to income and capital
adequacy ratios). We expect to meet all these targets in the current financial
year other than our stated earnings per share objective (i.e. growth in adjusted
EPS of 10% in excess of the UK retail price index).

As a result of disciplined risk and capital management the group's balance
sheet, capital adequacy ratios and asset quality have remained sound. As at 31
December 2007 the capital adequacy of Investec plc (applying UK Financial
Services Authority rules to its capital base) was 16.5% and the capital adequacy
of Investec Limited (applying South African Reserve Bank rules to its capital
base) was 13.6%.

Additional information

We have made good progress on the integration of the Kensington Group into our
Capital Markets division. An assessment of the carrying value of the goodwill
arising on the acquisition will be performed in the ordinary course of our
year-end audit process.

Outlook

The growth experienced in our markets over the last four to five years has come
under pressure as a result of the volatility in global capital and credit
markets. Our strategy is to consolidate our position and create additional
operational efficiencies while continuing to grow in areas where opportunities
present themselves. We believe this approach coupled with our balanced business
model supports our sustainable growth objectives.

As in prior years we will be holding a pre-close briefing in March at which we
will provide further detail on the performance of our businesses.

On behalf of the board


Hugh Herman (Chairman), Stephen Koseff (Chief Executive Officer) and Bernard
Kantor (Managing Director)

Notes:

1.  Please note that matters highlighted above may contain forward looking
    statements which are subject to various risks and uncertainties and other
    factors, including, but not limited to:

       -  the further development of standards and interpretations under 
          International Financial Reporting Standards (IFRS) applicable to past, 
          current and future periods, evolving practices with regard to the 
          interpretation and application of standards under IFRS.

       -  domestic and global economic and business conditions.

       -  market related risks.

     •   A number of these factors are beyond the group's control.

     •  These factors may cause the group's actual future results, performance 
        or achievements in the markets in which it operates to differ from
        those expressed or implied.

     •  Any forward looking statements made are based on the knowledge of the
        group at today's date.

2.  Our reporting currency is Pounds Sterling. Certain of our operations are
    conducted by entities outside the UK. The results of operations and the
    financial condition of our individual companies are reported in the local
    currencies in which they are domiciled, including Rands, Australian Dollars
    and Euros. These results are then translated into Pounds Sterling at the
    applicable foreign currency exchange rates for inclusion in our combined
    consolidated financial statements. In the case of the income statement, the
    weighted average rate for the relevant period is applied and, in the case of
    the balance sheet, the relevant closing rate is used. The following table
    sets out the movements in certain relevant exchange rates against Pounds
    Sterling over the period:

                       31 December 2007  30 September 2007   31 March 2007

Currency per £1.00     Period   Average  Period  Average   Period   Average
                          end               end               end 

South African Rand      13.61     14.06   13.98    14.21    14.20     13.38

Australian Dollar        2.28      2.36    2.30     2.39     2.42      2.47

Euro                     1.36      1.45    1.43     1.47     1.47      1.47



Timetable:

Pre-close briefing: 20 March 2008
Year end: 31 March 2008
Release of year-end results: 15 May 2008


For further information please contact:

Investec Investor Relations
UK: [phone]
South Africa: [phone]
[e-mail]


About Investec

Investec is an international specialist banking group that provides a diverse
range of financial products and services to a niche client base in three
principal markets, the United Kingdom, South Africa and Australia as well
as certain other countries. The group was established in 1974 and currently has
approximately 5 700 permanent employees.

Investec focuses on delivering distinctive profitable solutions for its clients
in five core areas of activity namely, Private Client Activities, Capital
Markets, Investment Banking, Asset Management and Property Activities.

In July 2002 the Investec group implemented a dual listed company structure with
listings on the London and Johannesburg Stock Exchanges. The combined group's
current market capitalisation is approximately £2.6 bn.



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