HYPIVB - Investec Warrants - Declaration of a distribution announcement on

HYPIVB - Investec Warrants - Declaration of a distribution announcement on      
Hyprop Investments Limited (HYP) Variable Strike Warrant                        
INVESTEC WARRANTS                                                               
JSE SHARE CODE:  HYPIVB                                                         
JSE ISIN CODE:   ZAE000081782                                                   
DECLARATION OF A DISTRIBUTION ANNOUNCEMENT ON HYPROP INVESTMENTS LIMITED (HYP)  
VARIABLE STRIKE WARRANT- HYPIVB                                                 
Investec Variable Strike Warrants:  Adjustment to the Exercise Price as of 18   
March 2011                                                                      
Share        Adjusted      Expiry Cover    Call/Put  Style      JSE Code        
            Exercise      Date   Ratio                                          
Price per                                                           

            Share                                                               
                                                                                
Hyprop       R3.87         19/07/ 1:1      Call      European   HYPIVB          
Investments                2016                                 ZAE0000817      
Limited                                                         82              
As a result of the Recalculation based on the debenture interest distribution an
adjustment has been made to the exercise prices of the above-mentioned Variable 
Strike warrants.  These adjustments are effective from 18 March 2011.  The      
warrant is exercisable only in accordance with the terms and conditions as set  
out in the relevant offering circular.                                          
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.: 0860 103 343                                                          
E-mail: warrants@investec.co.za                                             
    Internet: www.investecwarrants.com                                          
Sponsor                                                                         
    Investec Securities Limited                                                 
Member of the JSE                                                           
    Registration number. 1972/008905/06)                                        
Date: 22/03/2011 15:06:46 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department.