Disposal

Investec PLC
30 May 2007


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.

DISPOSAL OF THE PROPERTY FUND MANAGEMENT AND PROPERTY ADMINISTRATION BUSINESSES
OF INVESTEC PROPERTY GROUP LIMITED

1.       Introduction

Investec Property Group Limited ('IPG') has agreed to dispose of its property
fund management business and its property administration business, collectively
the Property Services businesses as a going concern to Growthpoint Properties
Limited ('Growthpoint') ('the proposed transaction').

IPG is a wholly owned subsidiary of Investec Limited ('Investec') and its
operations include property development, property fund management, property
administration and listed property investment management. The property
development and listed property investment management businesses will not form
part of the proposed transaction.

The effective date of the proposed transaction, which is subject to the
suspensive conditions set out in paragraph 4 below, is 1 July 2007.

2.       Rationale

The Property Services business infrastructure has largely been geared towards
supporting Growthpoint. Due to Growthpoint's significant increase in scale and
funds under management they believe it is appropriate that they manage their own
properties. As a consequence IPG has agreed to sell the Property Services
businesses to Growthpoint.

3.       Purchase Consideration

Growthpoint has agreed to acquire IPG's interest in the Property Services
businesses, for a purchase consideration of R1,393,649,600 (one billion three
hundred and ninety three million and six hundred and forty nine thousand six
hundred rand), ('the purchase consideration'). The purchase consideration will
be settled through the issue of 87 103 100 new Growthpoint linked units at a
price of 1600 cents per linked unit, ex distribution for the 6 month period
ending 30 June 2007.

4.       Suspensive Conditions

The proposed transaction is subject, inter alia, to the fulfillment of the
following suspensive conditions:

  • The signing of binding legal agreements between IPG, Investec,
    Growthpoint and Growthpoint's BEE partners
  • Granting of all regulatory approvals as may be required from various
    authorities including the Competition Authorities
  • Growthpoint obtaining approval for the proposed transaction from the
    requisite majority of its linked unitholders in a general meeting.

5.       Outlook

It has been agreed that Investec's existing relationship with Growthpoint will
be maintained and formalized in a cooperation agreement. In terms of this
agreement IPG will continue to first offer its new property development and
investment opportunities to Growthpoint, whilst Growthpoint will first offer new
and re-development opportunities in its property portfolio to IPG's property
development business. It is also agreed that Growthpoint will administer all
Investec's owned properties. All transactions will take place on an arms length
basis at market related terms.

Strategically, Investec will continue to conduct its property trading and
development business, focus on increasing funds under management in its listed
property investment management business, as well as create, manage and
distribute specialist property funds to its clients within all the geographies
in which it operates.

6.       Financial Effects

The proposed transaction will have no significant effect on Investec's earnings
as reported at 31 March 2007 and will increase net asset value per share as
reported at 31 March 2007 by approximately 8%.


London and Johannesburg
30 May 2007

Sponsor:
Investec Bank Limited







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