INVESTEC BANK LIMITED - Adjustment Announcement: DSYIHA - DSYIHB

Adjustment Announcement: DSYIHA - DSYIHB

INVESTEC BANK LIMITED

ANNOUNCEMENT TO WARRANT HOLDERS OF THEIR NEW POSITIONS OF THE HOT ENHANCED
DIVIDEND SECURITIES WHICH EXPIRED

     Share            Old Position     Old Price         Old      New Position   Price        New        Conversion        Cash per
                                                        Strike                               Strike         Ratio            ratio
                                                                                                         (Old : New)
Discovery Limited     DSYIHA            R31.23     R88.50          DSYIHB        R33.94     R92.00     1:0.92015
                    ZAE000205936                                 ZAE000218863                                          0




Investec Bank Limited, as Issuers of the above Hot Enhanced Dividend Securities (Hot EDS), would like to inform
warrant holders who rolled their Hot EDS into the “New” series of Hot EDS of the positions in which their securities
closed out on Friday, 10 June 2016 and to inform warrant holders of their new positions.

This has been done on an optimal-ratio basis, with cash distribution equal to the difference between the intrinsic
value inherent to the “Expired” Hot EDS multiplied by the position held on expiry and “New” Hot EDS multiplied by
the new position held.

13 June 2016

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

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