ESPIBQ - Investec Bank Limited - Adjustment to the terms and conditions of

ESPIBQ - Investec Bank Limited - Adjustment to the terms and conditions of      
ESPIBQ- ZAE000153276                                                            
INVESTEC BANK LIMITED                                                           
ADJUSTMENT TO THE TERMS AND CONDITIONS OF ESPIBQ- ZAE000153276                  
Investec Equity Structured Products                                             
As a result of the demerger of Mpact Limited (previously Mondi Packaging South  
Africa Limited)("MPT") by Mondi Limited to the ordinary shareholders of Mondi   
Limited ("MND") corporate action ("the Demerger"), the conversion of Mondi      
Limited ordinary shares and Mondi Limited Special converting shares with a par  
value of R0.20 per share to shares of no par value ("the Conversion") and the   
consolidation of the Mondi Limited Ordinary Shares ("the Consolidation") as set 
out in set out in their announcement made on the 31 May 2011, MND will:         
1    unbundle the MPT ordinary shares to be listed on 11 July 2011 to           
    shareholders in the ratio of 1 MPT share for every 1 MND ordinary share     
    held on the Demerger record date, 15 July 2011; and                         
2    replace the existing Mondi Limited ordinary shares with new Mondi Limited  
    ordinary shares to be listed on 1 August 2011, with new ISIN code           
    ZAE000156550 and same JSE code ("New MND"), at the Consolidation Ratio to   
    be announced on 22 July 2011.                                               
The "Holder Underlying Securities" per Specified Amount of ESPIBQ, and the      
Annexures to the 16th Supplement, will therefore be adjusted accordingly to     
incorporate the unbundled MPT ordinary shares, effective from Monday, 18 July   
2011 and the New MND shares, effective from Monday 8 August 2011.               
Save as set out herein, the Holders rights are not affected by the Demerger,    
Conversion or Consolidation.                                                    
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.investec.com                                             
Sponsor                                                                         
         Investec Securities Limited                                            
         Member of the JSE                                                      
(Registration number. 1972/008905/06)                                  
Date: 07/07/2011 17:36:02 Supplied by www.sharenet.co.za                     
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