INVESTEC BANK LIMITED - NPNIDE- 2 Day VWAP

NPNIDE- 2 Day VWAP

INVESTEC BANK LIMITED - EXPIRY OF ENHANCED DIVIDEND SECURITIES 14 January 2013



Share                              Naspers Limited



Strike Price                       R194.00
Stop-Loss Level                    R265.00
Expiry Date                        14/01/2013
Cover Ratio                        1:1

Call/Put                           Call
Style                              American
Issue Size                         550,000
JSE Code                           NPNIDE ZAE000163291


Investec Bank Limited, as Issuers of the above Enhanced Dividend Securities (EDS), notified holders of their option
expiry which occurred on 14 January 2013 (see the related securities above).

Holders who chose to expire the “Existing” EDS will receive the full intrinsic value thereof. A cash settlement amount
representing the number of EDS held on the expiry date multiplied by the excess of the simple average of the Volume
Weighted Average Price (“VWAP”) of the Underlying Parcel over the two Business Days following the Expiry Date,
over the Exercise Price (Strike Price) will automatically accrue to the holder via instruction through STRATE.

The VWAP on 15 January 2013 = 53704.9 cents
The VWAP on 16 January 2013 = 54928 cents
The simple average of the 2 day VWAP = 54316.45 cents

Holders will receive 34916.45 cents for every warrant held



Copies of the offering circular may be obtained from:
        Investec Bank Limited
        100 Grayston Drive
        Sandown
        Sandton
        2196

For further information contact:
         Investec Warrants
         Tel.: 011 286-4672
         E-mail: warrants@investec.co.za
         Internet: www.investec.com

Sponsor
           Investec Securities Limited
           Member of the JSE
           Registration number. 1972/008905/06)

Date: 17/01/2013 11:40:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
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