INVESTEC BANK LIMITED - BREACHED BARRIER: SHPIHF

BREACHED BARRIER: SHPIHF

INVESTEC BANK LIMITED – NOTICE OF BARRIER FOR HOT ENHANCED DIVIDEND SHPIHF

Share                              Shoprite Holdings Limited




Strike Price                       R132.00
Stop-Loss Level                    R150.00
Expiry Date                        2014/05/23
Cover Ratio                        1:1

Call/Put                           Call
Style                              American
Issue Size                         650,000
JSE Code                           ZAE000178786




Investec Bank Limited, as Issuers of the above SHPIHF, Hot Enhanced Distribution Security (HOT EDS), advised
Holders that due to the breach of the stop loss level of R150.00 in the Underlying Share, as of close of business
Monday, 20 January 2014 the abovementioned Hot Enhanced Distribution Security (HOT EDS) has been
terminated.

The Rebate Payment, represented by the number of HOT EDS held on the termination date, multiplied by the
excess of the simple average of the Volume Weighted Average Price (“VWAP”) of the Underlying Share over the
two Business Days following the Termination Date over the Exercise Price (Strike Price) of R132.00 This amount
will automatically accrue to holders via instruction through STRATE.

The VWAP on, 21 January 2014 = R 149.687
The VWAP on, 22 January 2014 = R 152.763
The simple average of the 2 day VWAP = R 151.225

Holders will receive R 19.225 for every warrant held.

23 January 2014

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.investecwarrants.com

Sponsor
           Investec Securities (Pty) Ltd
           Member of the JSE
           Registration number. 1972/008905/07)

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