Director Shareholding

Investec plc

(Incorporated in the United Kingdom)

(Registration number 3633621)

Share code: INP ISIN: GB0031773103

Investec Limited

(Incorporated in the Republic of South Africa)

(Registration number 1925/002833/06)

Share code: INL ISIN code: ZAE000040531

('Investec')

As part of the dual listed company structure, Investec plc and Investec Limited
notify both the London and Johannesburg Stock Exchanges ('JSE') of those
interests (and changes to those interests) of directors of both entities and
the respective company secretaries, and in certain instances, the directors of
significant subsidiaries of Investec Limited, in the securities of Investec plc
and Investec Limited which are required to be disclosed under the Listing Rules
of the United Kingdom Listing Authority and/or the JSE Listing Requirements.

Accordingly we advise of the following dealings by the company secretaries of
Investec Limited and Investec plc as well as dealings by certain directors of
significant subsidiaries of Investec Limited:

DIRECTORS DEALING IN SECURITIES

In compliance with Rules 3.63 - 3.74 of the JSE Listing Requirements, the
following information is disclosed:

Director of major subsidiary              Kevin Kerr                       
                                                                           
Nature of transaction                     Sale of shares pursuant to       
                                          exercise of options              
                                                                           
Share                                     Investec plc ordinary shares     
                                          (INP)                            
                                                                           
No of shares                              3,938                            
                                                                           
Exercise price                            R 164.50 per share               
                                                                           
Transaction price                         R 219.52 per share               
                                                                           
Date of transaction                       20 June 2005                     
                                                                           
Nature of transaction                     Sale of shares pursuant to       
                                          exercise of options              
                                                                           
Share                                     Investec Limited ordinary shares 
                                          (INL)                            
                                                                           
No of shares                              2,312                            
                                                                           
Exercise price                            R 164.50 per share               
                                                                           
Transaction price                         R 217.00 per share               
                                                                           
Date of transaction                       20 June 2005                     
                                                                           
Director of major subsidiary              Ciaran Whelan                    
                                                                           
Nature of transaction                     Sale of shares pursuant to       
                                          exercise of options              
                                                                           
Share                                     Investec plc ordinary shares     
                                                                           
No of shares                              3,938                            
                                                                           
Exercise price                            R 164.50 per share               
                                                                           
Transaction price                         R 219.52 per share               
                                                                           
Date of transaction                       20 June 2005                     
                                                                           
Nature of transaction                     Sale of shares pursuant to       
                                          exercise of options              
                                                                           
Share                                     Investec Limited ordinary        
                                          shares                           
                                                                           
No of shares                              2,312                            
                                                                           
Exercise price                            R 164.50 per share               
                                                                           
Transaction price                         R 217.00 per share               
                                                                           
Date of transaction                       20 June 2005                     
                                                                           
Director of major subsidiary              David Lawrence                   
                                                                           
Nature of transaction                     Sale of shares pursuant to       
                                          exercise of options              
                                                                           
Share                                     Investec plc ordinary shares     
                                                                           
No of shares                              7,875.00                         
                                                                           
Exercise price                            R 164.50 per share               
                                                                           
Transaction price                         R 219.52 per share               
                                                                           
Date of transaction                       20 June 2005                     
                                                                           
Nature of transaction                     Sale of shares pursuant to       
                                          exercise of options              
                                                                           
Share                                     Investec Limited ordinary shares 
                                                                           
No of shares                              4,625                            
                                                                           
Exercise price                            R 164.50 per share               
                                                                           
Transaction price                         R 217.00 per share               
                                                                           
Date of transaction                       20 June 2005                     
                                                                           
Company Secretary           Selwyn Noik                                    
                                                                           
Nature of transaction       Sale of shares pursuant to exercise of         
                            options                                        
                                                                           
Share                       Investec plc ordinary shares                   
                                                                           
No of shares                788                                            
                                                                           
Exercise price              R 164.50                                       
                                                                           
Transaction price           R 219.50                                       
                                                                           
Date of transaction         22 June 2005                                   
                                                                           
Nature of transaction       Sale of shares pursuant to exercise of         
                            options                                        
                                                                           
Share                       Investec Limited ordinary shares               
                                                                           
No of shares                462                                            
                                                                           
Exercise price              R 164.50                                       
                                                                           
Transaction price           R 217.98                                       
                                                                           
Date of transaction         22 June 2005                                   
                                                                           
Company Secretary                         Richard Vardy                    
                                                                           
Nature of transaction                     Sale of shares pursuant to       
                                          exercise of options              
                                                                           
Share                                     Investec plc ordinary shares     
                                                                           
No of shares                              630                              
                                                                           
Exercise price                            £10.52                           
                                                                           
Transaction price                         £17.93                           
                                                                           
Date of transaction                       22 June 2005                     
                                                                           
Nature of transaction                     Sale of shares pursuant to       
                                          exercise of options              
                                                                           
Share                                     Investec Limited ordinary shares 
                                                                           
No of shares                              370                              
                                                                           
Exercise price                            R 164.50                         
                                                                           
Transaction price                         R 217.98                         
                                                                           
Date of transaction                       20 June 2005                     
                                                                           

Clearance in terms of Rule 3.66 was obtained.

The company made forfeitable awards in respect of nil cost options in the
capital of Investec Limited for nil consideration on 20 June 2005 pursuant to
its Long Term Incentive Plan ('LTIP'). In terms of the LTIP plan rules, 75% of
the options are exercisable on 30 June 2009 and the remaining 25% of the
options are exercisable on 30 June 2010, on condition that the participant is
still employed by the Investec group. The awards are in accordance with the
determination of the Remuneration Committee and with the rules of the LTIP.

Director of major subsidiary : Bradley Tapnack

Nature of Transaction : Award of nil cost options in Investec Limited

Date of Award : 20 June 2005

Consideration : Nil

No of options awarded : 20 000

Director of major subsidiary : David Lawrence

Nature of Transaction : Award of nil cost options in Investec Limited

Date of Award : 20 June 2005

Consideration : Nil

No of options awarded : 20 000

Director of major subsidiary : Ciaran Whelan

Nature of Transaction : Award of nil cost options in Investec Limited

Date of Award : 20 June 2005

Consideration : Nil

No of options awarded : 25 000

Director of major subsidiary : Kevin Kerr

Nature of Transaction : Award of nil cost options in Investec Limited

Date of Award : 20 June 2005

Consideration : Nil

No of options awarded : 20 000

22 June 2005

Sponsor:

Investec Bank Limited