Director Shareholding

Investec PLC
23 December 2002

                                  SCHEDULE 11

          NOTIFICATION OF INTERESTS OF DIRECTORS AND CONNECTED PERSONS

1. Name of company
Investec plc

2. Name of director
Stephen Koseff

3. Please state whether notification indicates that it is in respect of holding
of the shareholder named in 2 above or in respect of a non-beneficial interest
or in the case of an individual holder if it is a holding of that person's
spouse or children under the age of 18 or in respect of a non-beneficial
interest
In respect of the shareholder named in 2 above.

4. Name of the registered holder(s) and, if more than one holder, the number of
shares held by each of them (if notified)
N/a

5. Please state whether notification relates to a person(s) connected with the
director named in 2 above and identify the connected person(s)
N/a

6. Please state the nature of the transaction. For PEP transactions please
indicate whether general/single co PEP and if discretionary/non discretionary
N/a

7. Number of shares / amount of stock acquired
N/a

8. Percentage of issued class
N/a

9. Number of shares/amount of stock disposed
N/a

10. Percentage of issued class
N/a

11. Class of security
N/a

12. Price per share
N/a

13. Date of transaction
N/a

14. Date company informed
N/a

15. Total holding following this notification
N/a

16. Total percentage holding of issued class following this notification
N/a

If a director has been granted options by the company please complete the
following boxes.

17. Date of grant
20 December 2002

18. Period during which or date on which exercisable
20.12.04 - 19.03.07

19. Total amount paid (if any) for grant of the option
Nil consideration

20. Description of shares or debentures involved: class, number
33,000 ordinary shares of £0.001 each

21. Exercise price (if fixed at time of grant) or indication that price is to be
fixed at time of exercise
ZAR111.96 per ordinary share of £0.001 each

22. Total number of shares or debentures over which options held following this
notification
292,504 ordinary shares of £0.001 each

23. Any additional information
N/a

24. Name of contact and telephone number for queries
R J Vardy

Company Secretary

020 7597 4485

25. Name and signature of authorised company official responsible for making
this notification
Kerry A Thomas

Deputy Group Secretary

Date of Notification
23 December 2002

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for loss of business or loss of profits) arising in contract, tort or otherwise
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