INVESTEC BANK LIMITED - Expiry Announcement- BTIIHA

Expiry Announcement- BTIIHA

INVESTEC BANK LIMITED - EXPIRY OF HOT ENHANCED DIVIDEND SECURITIES 26 October 2012




Share                                  British American Tobacco Plc



Strike Price                           R270.00
Stop-Loss Level                        R307.00
Expiry Date                            26/10/2012
Cover Ratio                            1:1

Call/Put                               Call
Style                                  American
Issue Size                             200,000
JSE Code                               BTIIHA ZAE000161972



Investec Bank Limited (“Investec”), as Issuers of the above Hot Enhanced Dividend Securities (HotEDS), hereby
reminds holders of their imminent option expiry on 26 October 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, Monday 22 October 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 Tuesday, 16 October 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: 12/10/2012 09:50:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.