IBBIL R164.00CHI1:1JUL12 - Expiry warrant

INVESTEC BANK LIMITED - EXPIRY OF HOT ENHANCED DIVIDEND SECURITIES 25 JULY 2012





Share                                 BHP Billiton Plc



Strike Price                          R164.00
Stop-Loss Level                       R185.50
Expiry Date                           25/07/2012
Cover Ratio                           1:1

Call/Put                              Call
Style                                 American
Issue Size                            1,000,000

JSE Code                              BILIHI ZAE000159117



Investec Bank Limited (Investec), as Issuers of the above Hot Enhanced Dividend Securities (HotEDS), hereby
reminds holders of their imminent option expiry on 25 July 2012 (see the related securities above).


1.             Holders may choose to exercise and pay the Exercise Price (Strike Price) in order to receive the
               underlying securities on or before 12:00 hours, one business day prior to the Expiry Date.


2.             Should holders choose to expire the Existing HotEDS they should notify the Investec Equity Derivatives
               Desk before 12:00 hours, Thursday, 19 July 2012. The Existing HotEDS will expire at full intrinsic value
               on the respective expiry date. A cash settlement amount representing the number of HotEDS held on that
               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.


3.             Should holders not choose either option 1 or 2, Investec will make arrangement to buy-back the Existing
               Hot EDS and sell the New Hot EDS. (The New Hot EDS, will be listed on Thursday, 19 July 2012) This
               will be done on an optimal ratio basis, a cash distribution of any difference between the intrinsic value
               inherent to the Existing Hot EDS and the New Hot EDS will accrue to the client.




Please be advised that should Investec not receive any instruction from holders with regard to the Expiry, the Existing
HotEDS will expire at full intrinsic value on the respective expiry date. A cash settlement amount representing the
number of HotEDS held on that 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 .




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: 11/07/2012 10:34:00 Supplied by www.sharenet.co.za                     
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