FTSE 100 and RPI Combination Plan 1

Accumulation Investment Income Structured FTSE 100 and RPI Combination Plan 1 5 yearly payments equivalent to 7.25% of the initial investment plus full indexation to UK inflation (RPI) regardless of the FTSE 100 performance Investment allocation between deposits and medium term notes to deliver tax efficient returns Maturity payment of an amount equal to 100% of the initial investment provided the FTSE 100 does not halve at any point during the Investment Term Your initial investment is at risk Limited offer ends: 22 August 2008

FTSE 100 and RPI Combination Plan1 This brochure has been prepared by Investec Structured Products which is a trading name of Investec Bank (UK) Limited, which is part of the Investec Group of Companies ( Investec ). Investec is an international specialist banking group that provides a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa and Australia, as well as certain other countries. The group was established in 1974 and currently has approximately 6,000 employees. Investec focuses on delivering distinctive profitable solutions for its clients in five core areas of activity, namely Capital Markets, Private Client Activities, Investment Banking, Asset Management and Property Activities. Key events and dates 2 Offer periods Direct investments & ISAs: 14 July to 22 August 2008 ISA transfers: 14 July to 8 August 2008 Plan dates Investment: 8 September 2008 Maturity: 16 September 2013 Important information Contents Key events and dates 2 What are the aims of the FTSE 100 and RPI Combination Plan 1? 3 How to invest 4 What are the ways in which you can invest? 4 How is the rise or fall in the Index measured at maturity? 5 What might you get back at the end of the investment? 5 Is this investment suitable for you? 6 What are the risks of the investment? 7 Your questions answered 9 Terms and Conditions 13 How to invest Direct investment (Non-ISA) SIPP/SSAS Pension arrangements (Non-ISA) Trustee, Corporate and Charity investments (Non-ISA) Stocks and shares ISA (ISA) ISA transfer (ISA) For further details see page 4. Capitalised terms used in this brochure, unless otherwise defined, have the meanings given to them in the Terms and Conditions appearing on page 21 of this brochure. This document is not a prospectus, but an advertisement, and you should not subscribe for any of the FTSE 100 and RPI Combination Plan I investments except on the basis of information in the Base Prospectus dated 9 May 2008 relating to the Zebra Capital Plans Retail Structured Products Programme of Investec Finance plc and the related Final Terms. Copies of the Base Prospectus can be obtained upon request from Investec Structured Products, 2 Gresham Street, London EC2V 7QP or via the website www.investecstructuredproducts.com.

What are the aims of the FTSE 100 and RPI Combination Plan 1? The FTSE 100 and RPI Combination Plan 1 is designed for the investor who is looking for a 5 year investment with a yearly payment fully linked to UK inflation via its core measure, the Retail Prices Index (RPI) and who is willing to accept a risk to their initial investment. The objective of the Plan is to deliver a yearly payment which is fully indexed to UK inflation via its core measure,the Retail Prices Index (RPI), and to return, by maturity, an amount equal to 100% of the initial Plan investment. If at any point during the Investment Term the FTSE 100 Index falls below 50% of the Initial Index Level, the maturity payment of an amount equal to 100% of the initial Plan investment is at risk on a one-to-one basis. If, however, the FTSE 100 does not fall below 50% of the Initial Index Level, the maturity payment of an amount equal to 100% of the initial Plan investment will be protected (please refer to tables on pages 7 and 11). 5 yearly payments equivalent to 7.25% of the initial investment plus full indexation to UK inflation (RPI) regardless of the FTSE 100 performance. Investment allocation between deposits and medium term notes to deliver tax efficient returns. Maturity payment of an amount equal to 100% of the initial investment provided the FTSE 100; a. does not halve at any point during the Investment Term, or, b. halves during the Investment Term but recovers to the Initial Index Level by the Maturity Date. The Plan investments will differ for non-isa and ISA investors. 3

FTSE 100 and RPI Combination Plan1 How to invest If you are eligible to invest, simply complete and sign the relevant sections of the Application Form. Send your completed Application Form to your financial advisor or to: Investec Administration, PO Box 1008, Ziggurat Building, 25 Grosvenor Road, St Albans, Hertfordshire AL1 9LZ. In the case of a direct investment or ISA investment you should make out your cheque for the full amount of your subscription made payable to Investec Bank (UK) Limited. Your subscription will only be invested after we receive a fully completed Application Form. The application deadline is 5pm on 22 August 2008 (8 August 2008 for ISA transfers). What are the ways in which you can invest? This Plan offers two alternative investments: an ISA only option and a Non-ISA option. There are several ways to invest in the Plan, and you can choose any or all of these: Direct investment (Non-ISA) You can invest between 1,500 and 1,000,000 directly into the Plan. Returns may be subject to Capital Gains Tax. Using your ISA allowance (ISA) You can invest using your stocks and shares ISA allowance (up to 7,200, subject to the minimum of 1,500), if you have not already used all, or part of it, in this tax year. In each tax year you may only subscribe to one stocks and shares ISA. ISAs are only available to individuals who are resident and ordinarily resident in the UK, restrictions may apply. Transferring an existing ISA investment into the Plan (ISA) The minimum you can transfer from an existing ISA is 1,500 but there is no maximum. You can also transfer as many existing investments as you wish but there may be exit or associated charges from your existing ISA manager. Other ways to invest (Non-ISA) 4 You can also invest in a Self Invested Personal Pension (SIPP), Small Self Administered Scheme (SSAS) pension arrangements, Trustee, Corporate and Charity investments. Tax rules and your benefit from them may change at any time.you should seek independent tax advice from your financial advisor or tax advisor.

FTSE 100 and RPI Combination Plan 1 Non-ISA investments The Plan will allocate the initial investment between deposits and Medium Term Notes (MTNs) and is designed to deliver tax efficient returns. The initial Plan investment will be divided as follows: 5 term deposits 36.25% of the initial Plan investment will be divided into 5 equal term deposits to deliver the 5 yearly payments of 7.25% plus UK inflation (RPI) indexation. Medium Term Note: Maturity payment The remaining 63.75% of the initial Plan investment will purchase an MTN issued by Investec Finance plc to provide the maturity payment. An amount equal to 100% of the initial Plan investment will be returned, provided the FTSE 100 Index; a. does not halve during the Investment Term, or, b. halves during the Investment Term but recovers to the Initial Index Level by the Maturity Date. How is the RPI Indexation applied to the yearly payments? The level of indexation to be applied to your yearly payments is calculated by referencing the level of the UK Retail Price Index (All Items Non-Seasonally Adjusted), details of which can be sourced from the Office of National Statistics: www.statistics.gov.uk. The period over which the indexation is applied is determined by the RPI Start Date and RPI End Date. For example: Yearly Payment Dates Amounts RPI Start RPI End 08/09/2009 7.25%+RPI to payment date Jul-08 Jul-09 08/09/2010 7.25%+RPI to payment date Jul-08 Jul-10 08/09/2011 7.25%+RPI to payment date Jul-08 Jul-11 10/09/2012 7.25%+RPI to payment date Jul-08 Jul-12 16/09/2013 7.25%+RPI to payment date Jul-08 Jul-13 5

FTSE 100 and RPI Combination Plan1 The calculation below illustrates what the theoretical indexation adjustment on the second year repayment would have been given the published RPI levels in May 2006 and May 2008. Index for May 2006 (RPI Start Date): 197.7 Index for May 2008 (RPI End Date): 215.1 215.1 197.7 1 = 8.8012% In this example the post indexation adjustment from May 2006 to May 2008 to be applied to a 7.25% yearly payment would be calculated as follows: 7.25% x (1+8.8012%) = 7.89% How is the rise or fall in the Index measured at maturity? The maturity payment is linked to the performance of the FTSE 100 Index. The rise or fall in the Index is measured by comparing its Initial Index Level, which is the closing level of the FTSE 100 Index on 8 September 2008, and its Final Index Level. The Final Index Level is the average of the closing levels of the Index on each Business Day over the last 6 months of the Investment Term from, and including, 13 March 2013 to, and including, 13 September 2013. The use of this averaging process to calculate the Final Index Level can reduce the negative effects of any falls in the market shortly before maturity but, equally, it can reduce the benefits of any market rises shortly before maturity. 6

What might you get back and how it is taxed? Table A below illustrates the yearly payments expected assuming 3.50% per annum RPI compounded growth. Table A Initial Plan Investment of 10,000 Term Deposit RPI Deposit Income Net Yearly Deposit Amount Growth Gross Tax deducted Payment * (Year) (7.25%) Proceeds at 20% 1 725 25.38 750.38 5.08 745.30 2 725 51.64 776.64 10.33 766.31 3 725 78.82 803.82 15.76 788.06 4 725 106.95 831.95 21.39 810.56 5 725 136.07 861.07 27.21 833.86 Total 3,625 398.86 4,023.86 79.77 3,944.09 *Higher rate tax payers may be subject to further income tax. Table B below illustrates potential maturity payments under the Plan. Table B Initial Plan Investment of 10,000 Final Index Index DOES NOT fall Index DOES fall by 50% Level/Initial by 50% or more during or more during the Index Level the Investment Term Investment Term Initial Return at Capital Initial Return at Capital Investment maturity gain /(loss) Investment maturity gain/(loss) in Note in Note (63.75%) (63.75%) 20% Higher 6,375 10,000 3,625 6,375 10,000 3,625 10% Higher 6,375 10,000 3,625 6,375 10,000 3,625 No Change 6,375 10,000 3,625 6,375 10,000 3,625 20% lower 6,375 10,000 3,625 6,375 8,000 1,625 36.25% lower 6,375 10,000 3,625 6,375 6,375 0 60% lower 6,375 4,000-2,375 N/A 100% lower 6,375 0-6,375 7

FTSE 100 and RPI Combination Plan1 Taxation of Plan proceeds at a glance If you invest directly into the Plan (not via an ISA, ISA transfer or SIPP/SASS), under current law and practice, it is expected that the UK taxation treatment will be as follows: The yearly payments of 7.25% are a return of initial investment capital and do not give rise to any tax liability, UK inflation (RPI) indexation on the 7.25% deposit amounts will be subject to deduction of lower rate tax at source (currently at a rate of 20%) and will be taxable at your marginal rate of tax in the year of payment (please see Table A on page 7), On the Plan maturity, any gains arising on the payment at maturity may be subject to Capital Gains Tax (CGT) (please see Table B on page 7). Where the Plan returns an amount equal to 100% of the initial investment the arising gain will be equal to 36.25% of the initial investment. Currently, there is an annual CGT exempt amount ( 9,600 for 2008/2009) which means that you only pay tax on total gains made above this allowance (this includes other gains you may make in the same year that the Plan matures). Early Bird Interest If you send us your cheque and Application Form before the Plan closing date of 22 August 2008, we will pay you interest of 4.5% per annum gross. Early Bird Interest earned on direct investments will begin 4 days after we receive your cheque and will continue up to and including 5 September 2008. The interest you earn will be added to your investment into the Plan on 8 September 2008. Any such interest may, however, be subject to taxation, depending on your personal circumstances. 8

FTSE 100 and RPI Combination Plan 1 ISA investments The Plan will allocate the initial investment to Medium Term Notes (MTNs) and is designed to deliver: 5 yearly payments equivalent to 7.25% of the initial investment plus full indexation to UK inflation (RPI) regardless of the FTSE 100 performance. Maturity payment of an amount equal to 100% of the initial investment, provided the FTSE 100 Index; a. does not halve during the Investment Term, or, b. halves during the Investment Term but recovers to the Initial Index Level by the Maturity Date. How is the RPI Indexation applied to the yearly payments? The level of indexation to be applied to your yearly payments is calculated by referencing the level of the UK Retail Price Index (All Items Non-Seasonally Adjusted), details of which can be sourced from the Office of National Statistics: www.statistics.gov.uk. The period over which the indexation is applied is determined by the RPI Start Date and RPI End Date. For example: Yearly Payment Dates Amounts RPI Start RPI End 08/09/2009 7.25%+RPI to payment date Jul-08 Jul-09 08/09/2010 7.25%+RPI to payment date Jul-08 Jul-10 08/09/2011 7.25%+RPI to payment date Jul-08 Jul-11 10/09/2012 7.25%+RPI to payment date Jul-08 Jul-12 16/09/2013 7.25%+RPI to payment date Jul-08 Jul-13 9

FTSE 100 and RPI Combination Plan1 The calculation below illustrates what the theoretical indexation adjustment on the second year repayment would have been given the published RPI levels in May 2006 and May 2008. Index for May 2006 (RPI Start Date): 197.7 Index for May 2008 (RPI End Date): 215.1 215.1 197.7 1 = 8.8012% For example the post indexation adjustment from May 2006 to May 2008 to be applied to a 7.25% yearly payment would be calculated as follows: 7.25% x (1+8.8012%) = 7.89% How is the rise or fall in the Index measured at maturity? The maturity payment is linked to the performance of the FTSE 100 Index. The rise or fall in the Index is measured by comparing its Initial Index Level, which is the closing level of the FTSE 100 Index on 8 September 2008, and its Final Index Level. The Final Index Level is the average of the closing levels of the Index on each Business Day over the last 6 months of the Investment Term from, and including, 13 March 2013 to, and including, 13 September 2013. The use of this averaging process to calculate the Final Index Level can reduce the negative effects of any falls in the market shortly before maturity but, equally, it can reduce the benefits of any market rises shortly before maturity. 10

What might you get back and how it is taxed? Table A below illustrates the yearly payments expected assuming 3.50% per annum RPI compound growth. Table A Initial Plan Investment of 10,000 Payment Yearly RPI Growth Yearly Gross Year Amount (7.25%) Proceeds 1 725 25.38 750.38 2 725 51.64 776.64 3 725 78.82 803.82 4 725 106.95 831.95 5 725 136.07 861.07 Total 3,625 398.86 4,023.86 Table B below illustrates potential maturity payments under the Plan. Table B Initial Plan Investment of 10,000 Final Index Total Index DOES NOT fall Index DOES fall by 50% Level/Initial Yearly by 50% or more during or more during the Index Level Proceeds the Investment Term Investment Term Over 5 year Term Return at Total Plan Return at Total Plan maturity Proceeds maturity Proceeds 20% Higher 4,023.86 10,000 14,023.86 10,000 14,023.86 10% Higher 4,023.86 10,000 14,023.86 10,000 14,023.86 No Change 4,023.86 10,000 14,023.86 10,000 14,023.86 20% lower 4,023.86 10,000 14,023.86 8,000 12,023.86 40% lower 4,023.86 10,000 14,023.86 6,000 10,023.86 60% lower 4,023.86 4,000 8,023.86 N/A 100% lower 4,023.86 0 4,023.86 11

FTSE 100 and RPI Combination Plan1 Taxation of Plan proceeds at a glance No tax is payable on any income or gains made within a stocks and shares ISA. Early Bird Interest If you send us your cheque and Application Form before the Plan closing date of 22 August 2008, we will pay you interest of 4.5% per annum gross. Early Bird Interest earned on direct investments will begin 4 days after we receive your cheque and will continue up to and including 5 September 2008. The interest you earn will be added to your investment into the Plan on 8 September 2008. Interest made through a stocks and shares ISA will be paid net of a 20% flat rate charge. Important information The information in this brochure does not constitute tax, legal or investment advice. Before you invest you should refer to the FSA website MONEYmadeclear www.moneymadeclear.co.uk, which should ensure that you understand the benefits and the associated investment risks of this investment. If you need advice as to whether this Plan is suitable for you, you should consult a financial advisor. Investec does not offer advice or make any investment recommendations regarding this Plan. 12

Is this investment suitable for you? This investment may be suitable for you if: You are prepared to risk losing some or all of your initial investment You want a regular payment You do not need access to your money over the next 5 years You want a tax-efficient investment using your ISA or SIPP/SSAS allowance You have a minimum of 1,500 to invest It may not be suitable for you if: You are not looking for an investment linked to the performance of stock markets You are not prepared to put your capital at risk You do not have enough spare money for emergencies You may need immediate access to your money You want a known guaranteed rate of return You want to add to your investment on a regular basis You do not have 1,500 to invest Important information If you need advice as to whether this Plan is suitable for you, you should consult a financial advisor. Investec does not offer advice or make any investment recommendations regarding this Plan. 13

FTSE 100 and RPI Combination Plan1 What are the risks of the investment? The Plan provides a yearly payment fully linked to UK inflation (RPI) and this is achieved by exposing your initial investment to risk. If the level of the FTSE 100 Index at any time during the term of the Investment is less than 50% of the Initial Index Level: a. Non-ISA investments 63.75% of your initial Plan investment is at risk on a one-to-one basis if the Final Index Level is less than 63.75% of the Initial Index Level, b. ISA investments 100% of your initial Plan investment is at risk on a one-to-one basis if the Final Index Level is less than 100% of the Initial Index Level. In the case of both non-isa and ISA investments, if the FTSE 100 does not fall below 50% of it s initial level, an amount equal to your initial investment is returned at maturity. Your circumstances could change and this might force you to sell your Investment early. If this happens you may get back less than the amount you originally invested. The value of the Plan will be determined in part by the price at which the Investment can actually be sold on the relevant Dealing Date. The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax reliefs depend on individual circumstances. The favourable tax treatment of ISAs may not be maintained in the future and is subject to changes in legislation. Before you make a transfer of existing investments into this Plan you should consider any charges or costs for the transfer, the potential for loss of income or growth whilst the transfer is pending, and whether the risk to your capital in this Plan is suitable for you. When Investec Bank (UK) Limited receives your investment, it will be deposited into a Client Money account at HSBC Bank plc ( HSBC ). In the event of Investec Bank (UK) Limited s insolvency during this period, your money will be protected. However, there is a risk that HSBC may fail to meet its obligations. In the event of HSBC s insolvency your money will not be protected and you must rely on your right of recourse to the Financial Services Compensation Scheme.You may lose all or part of your initial investment. 14

At the Investment Date your money will be pooled and transferred to an account at Investec Bank (UK) Limited and (except as described in the following paragraph) applied to purchase one or more securities with a fixed maturity date from Investec Finance plc. These securities have been specifically structured to match the Investment Objectives of the Plan. Investec Finance plc is a subsidiary of Investec Bank (UK) Limited, and Investec Finance plc s obligations under these securities are guaranteed by Investec Bank (UK) Limited. There is a risk that Investec Bank (UK) Limited may fail to meet its obligations. In the event of Investec Bank (UK) Limited s insolvency your investment will not be guaranteed and you will have no recourse to the Financial Services Compensation Scheme in respect of such securities.you may lose all or part of your initial investment. Investec Bank (UK) Limited s capacity to meet its financial commitments is considered stable by a leading credit rating agency, FitchRatings. In the case of non-isa investments only (direct investments, SIPP/SSAS pension arrangements), after the Investment Date a portion of your initial investment will continue to be held in an account at Investec Bank (UK) Limited until it is required to be returned to you as a yearly return payment in accordance with the Terms and Conditions of the Plan. There is a risk that Investec Bank (UK) Limited may fail to meet its obligations. In the event of Investec Bank (UK) Limited s insolvency your money will not be protected and you must rely on your right of recourse to the Financial Services Compensation Scheme in respect of such amounts. The terms of the Investment may permit the issuer of these Investments to withhold, defer, reduce or even terminate payments in certain events and, as a result, you may receive less than you would otherwise have anticipated, or you may have to wait for the proceeds. The FTSE 100 Index is a capital-only index and it takes no account of dividend returns. As a result you will not receive any dividend payments or distributions. Past performance of the FTSE 100 Index should not be seen as an indication of future performance. 15

FTSE 100 and RPI Combination Plan1 What are the risks of the investment? continued The return received under this Plan at maturity is dependent on the Final Index Level which is the average of the closing levels of the Index on each Business Day from, and including, 13 March 2013 to, and including, 13 September 2013. The use of this averaging process to calculate the Final Index Level can reduce the negative effects of any falls in the market shortly before maturity but, equally, it can also reduce the benefits of any market rises shortly before maturity. You should think carefully about the benefits and risks of this Plan and whether it suits your personal circumstances and attitude to risk. We also recommend that you take professional advice before investing. It is important to understand that this Plan does not include the security of capital offered under a deposit with a bank or building society.you may lose all or part of the amount invested. Historic RPI levels should not be seen as an indication of future levels. It is possible that RPI growth rates can be negative as well as positive. 16

Your questions answered Q: To whom is this investment available? A: To invest in the Plan you must be aged 18 or over and for ISA applications we need your date of birth and National Insurance Number before we process your application.you must also be resident and ordinarily resident in the UK for tax purposes. Q: What will happen if I invest before the closing date of 22 August 2008? A: If you send us your cheque and Application Form before the closing date of 22 August 2008, we will pay you interest of 4.5% per annum gross, from 4 days after we receive your cheque until 5 September 2008. The interest you earn will be added to your investment into the Plan on 8 September 2008. For direct investments, interest will be subject to lower rate tax at 20%. If you are a higher rate taxpayer a further liability will arise. If you are entitled to receive your interest gross (i.e. without tax deducted at source) please complete a form R85 and return it with your application. You can find a copy online at www.hmrc.gov.uk/forms/r85.pdf, or call us on 0845 603 9176 and we will send you one. For investments via an ISA, interest earned will be paid net of a 20% flat rate charge. If you have any doubts as to your tax situation you should consult a financial advisor or tax advisor. Q: To which Index is performance of my investment linked? A: It is linked to the FTSE 100 Index which is a capitalisation weighted index of the 100 most highly capitalised companies traded on the London Stock Exchange. The Index currently includes companies such as BP, BT Group, Tesco and Marks and Spencer (as at June 2008). The Index is a capital-only index, which does not include the re-investment of dividends. Q: In what is my capital invested? A: Your money will be invested in five year securities issued by Investec Finance plc. These have been designed to produce the Investment Objectives under the Plan. In the case of direct investments only, to meet the Investment Objectives under the Plan, a portion of your money will be retained by Investec Bank (UK) Limited and will be returned to you in accordance with the Terms and Conditions of the Plan. The Plan is not the same as a bank or building society account and the investment does not include the security of capital afforded under a deposit with a bank or building society. If you have any doubts whether this investment is suitable for you, you should contact your financial advisor. Q: Is an approved Base Prospectus available? A: A copy of the approved Base Prospectus and related Final Terms relating to the underlying securities can be obtained upon request from Investec Structured Products, 2 Gresham Street, London EC2V 7QP. 17

FTSE 100 and RPI Combination Plan1 Q: What are the tax consequences of my investment? A: Direct investments: If you invest directly into the Plan (not via an ISA or an ISA transfer) you may still be able to receive some or all of your growth from the Plan free from further liability to tax. This will depend on each individual s circumstances. If you invest directly into the Plan (not via an ISA or ISA transfer), under current law and practice, it is expected that when the Plan matures, any growth arising on the payment at maturity may be subject to capital gains tax ( CGT ). Currently, there is an annual CGT exemption ( 9,600 for 2008/2009) which means you only pay tax on total gains made above this allowance (this includes other gains you may make in the same year that the Plan matures). An amount up to 36.25% of your initial investment may be subject to CGT at maturity. If you sustain a loss on the payment at maturity, this may constitute an allowable loss for CGT purposes. Under current law and practice, it is expected that the yearly payments will not be subject to income tax or CGT. A: ISA investments: You can invest into the Plan using part or all of your 7,200 ISA allowance for 2008/09, in which case any maturity money will be free from further liability to tax under current legislation. If at maturity you sustain a capital loss, the ISA Regulations do not permit you to offset this for tax purposes against other gains. A: ISA transfers: If you have other ISA investments you can transfer them into this Plan if you wish, in which case the tax efficient status of your investment will continue. The deadline for receiving ISA transfers 18 from existing ISA managers is 8 August 2008. Before you decide to transfer existing ISAs you should consider the effect of any charges which may apply when you transfer your existing investments.you should also bear in mind the potential for loss of income or growth whilst the transfer is pending and whether the risk to your initial investment in this Plan is suitable to your attitude to investment risk. You can transfer your cash ISAs and stocks and shares ISAs to our stocks and shares ISA. You are able to transfer some or all of your previous year subscriptions without affecting your annual ISA investment allowance. You are able to transfer current year subscriptions. Such transfers must be for the whole current year subscription in that ISA up to the day of transfer. Once the subscription is transferred it is treated as if it had been invested directly into our ISA. Therefore, you are still able to make further subscriptions to our ISA up to the full remaining balance of your 7,200 annual ISA investment allowance in that tax year. Should you transfer your current year subscriptions from a cash ISA into our stocks and shares ISA, the current year subscriptions are treated as if they had been made to our stocks and shares ISA. This means that you will be regarded as never having subscribed to the cash ISA. Therefore, subject to the overall subscription limits you will be able to subscribe to a cash ISA in the same tax year. If you wish to transfer current year subscriptions from a cash ISA to a stocks and shares ISA, you must not have already made a current year subscription to a stocks and shares ISA. The levels and bases of tax and tax reliefs are subject to change and the value of tax reliefs will depend on individual circumstances.

Additionally, the favourable tax treatment of ISAs may not be maintained in the future. There is a possibility that other taxes may exist that are not paid through the Plan Manager or imposed by it. If you are in any doubt as to the tax treatment of this Plan, please consult a financial advisor or tax advisor. Q: Who is the Plan Manager? A: The Plan is issued by Investec Bank (UK) Limited (Registered No: 00489604 England), which is authorised and regulated by the Financial Services Authority. Registered under Financial Services Authority No. 172330. Investec Bank (UK) Limited does not offer investment advice or make any recommendations regarding this investment. If you have any doubt whether this investment is suitable, you should obtain professional advice and should only invest if you understand and are comfortable with the risks. Q: What happens if I change my mind? A: When you first invest we will send you a cancellation notice which provides you with a 14 day period in which to change your mind. The Plan Manager will then return to you your cash subscription without interest. If the Plan Manager receives your cancellation notice after the close of the offer period, it will then return to you without interest any cash subscriptions in the Plan, less an allowance for a reduction in the market value of the Investments if applicable.you might not get back the amount you originally invested in the Plan. If you are transferring an existing ISA to us, the cancellation notice will be sent to you after we receive the proceeds from your previous ISA manager. If you should decide to cancel then we may repay the cash proceeds directly to you, in which case you could lose any favourable tax treatment. Q: What happens if I cash in my Investment early? A: The Plan is designed to be held for the full Investment Term. If, however, your circumstances change and you need to cash in your investment, you may, but we cannot guarantee what the cash value of your investment will be at that point. If you cash in your investment early, we will pay you the value of your investment in accordance with the prevailing market rate at that time (less any associated selling costs and transfer taxes, including Stamp Duty or Stamp Duty Reserve Tax to the extent applicable) plus, in the case of direct investments only, the amount of any cash held by Investec Bank (UK) Limited in respect of your Plan, but please note this amount may be less than the amount you originally invested. There is, therefore, a restricted market in the investment. We would need to receive an instruction in writing to cash in your investment and you should be aware that any instruction to close your Plan will result in us selling your investment and you may get back less than you invested. In addition, at the date at which you cash in your investment early, there will be a difference between the buying price and the selling price also known as the spread and this will be taken into account in determining the amount of money you get back. Information on procedures for cashing in your Investment early is provided in the Terms and Conditions. 19

FTSE 100 and RPI Combination Plan1 Q: What happens at the end of the investment? A: On 16 September 2013 you will have the option to cash in your Plan, or alternatively you may be able to transfer it to another plan offered by another plan manager, or to reinvest the proceeds into other products which may be available at that time from Investec Bank (UK) Limited. We will contact you shortly before maturity to ask your preference. Until we receive your instructions we will hold your maturity proceeds on your behalf but will not pay any interest to you on your proceeds. Q: When will I receive financial settlement? A: Within 7 Business Days of the Plan maturing subject to receiving your written instructions on what alternate action to take with the maturity proceeds. Q: Are there any charges or expenses I have to pay? A: We have allowed for all the costs and charges payable to third parties in relation to the management and distribution of the Plan when setting the return for the product, and these costs and charges are therefore already taken into account in the growth rates and index participation rates that are available. When calculating the returns from your investment, no other initial or ongoing charges will be deducted from these rates. Q: How much will any advice cost? A: If you require personal financial advice you should consult a financial advisor who will provide you with details of their costs. If you do not require any advice, commission may still be paid by us to a financial advisor. The amount paid will depend on the size of the investment. The payment of this commission by Investec Bank (UK) Limited will not affect the cost of the investment to you or the investment returns detailed in this brochure. The amount will also be included in your welcome letter. Q: What happens if I die? A: All Plan investments will be dealt with in accordance with the instructions of your personal representatives, and/or as part of probate/administration. ISA investments automatically lose their ISA status immediately upon the death of the holder. The investment can be sold or transferred to beneficiaries. Q: How will you keep me informed? A: We will send you a written acknowledgement by the end of the next working day following receipt of your completed Application Form. After the start of the investment, following the purchase of securities for your investment, we will send you an opening statement showing your holdings in your investment. We will send you a further annual statement from June 2009. Q: What should I do if I have more questions? A: It is essential that you only invest in the Plan if you fully understand the benefits and associated risks. Where you have unanswered questions you should seek advice from a financial advisor. 20

Terms and Conditions Definitions (i) Account shall mean your ISA and/or Direct Account. (ii) Application Form means the FTSE 100 and RPI Combination Plan 1 application for an ISA or a Direct Account. (iii) Banking Day means a day on which commercial banks in London are open for general business (including dealings in foreign exchange and foreign currency deposits). (iv) Business Day means any day on which the Exchange and each Related Exchange is scheduled to be open for trading for its regular trading sessions. (v) Calculation Agent means Investec Bank (UK) Limited acting as calculation agent. (vi) Client Money means the provisions of the FSA s Client Assets Sourcebook relating to client money. (vii) Dealing Date means the 1st and 11th Business Day in each month. (viii) Direct Account means any part of the FTSE 100 and RPI Combination Plan 1, which is not an ISA Account. (ix) Early Bird Interest means interest payable for application monies received in advance of the Plan closing date, 22 August 2008. (x) Exchange means The London Stock Exchange (LSE). (xi) Final Index Level means the average of the closing levels of the FTSE 100 Index on each Business Day from, and including, 13 March 2013 to, and including, 13 September 2013. (xii) FSA means the Financial Services Authority. www.fsa.gov.uk. (xiii) FSA Handbook means the FSA Handbook of Rules and Guidance as amended from time to time. (xiv) FSA Rules means the Rules included within the FSA Handbook promulgated by the FSA. (xv) HMRC means Her Majesty s Revenue & Customs. (xvi) HSBC means HSBC Bank plc. (xvii) Index means the FTSE 100 Index. This product is not in any way sponsored, endorsed, sold or promoted by FTSE International Limited. (xviii) Index Sponsor means FTSE International Limited, a UK incorporated company which calculates the Index and which is owned jointly by the London Stock Exchange and the Financial Times. (xix) Initial Index Level means the closing index level of the FTSE 100 Index on the Strike Date. (xx) Investments means the securities the Plan Manager purchases and holds on your behalf under the Plan. (xxi) Investment Date means 8 September 2008. (xxii) Investment Objective means the objective of securing the return described in the brochure to which these Terms and Conditions are attached. (xxiii) Investment Term means the period 8 September 2008 to 16 September 2013 inclusive. (xxiv) ISA is a scheme of investment managed in accordance with the ISA Regulations by the ISA Manager under terms agreed between the ISA Manager and the investor (ISA terms and conditions). (xxv) ISA Manager means Investec Bank (UK) Limited. (xxvi) ISA Regulations means The Individual Savings Account Regulations 1998, as amended or replaced from time to time. (xxvii) Issuer means any issuer of Investments. (xxviii) Maturity Date means the date on which Investments mature. (xxix) Nominee means Ferlim Nominees Limited. (xxx) Plan means the FTSE 100 and RPI Combination Plan 1, comprising the Investments subscribed for through your ISA and/or your Direct Account, as specified in your Application Form(s) and, in the case of a Direct Account only, the cash portion of your investment retained by Investec Bank (UK) Limited pursuant to these Terms and Conditions. (xxxi) Plan Manager means Investec Bank (UK) Limited which is authorised and regulated by the FSA and bound by its rules. (xxxii) Related Exchange means each exchange or quotation system where trading has a material effect (as determined by the Calculation Agent) on the overall market for futures or options contracts relating to the FTSE 100 Index, including any transferee or successor to any such exchange or quotation system or any 21

FTSE 100 and RPI Combination Plan1 substitute exchange or quotation system to which trading in futures or options contracts relating to the FTSE 100 Index has temporarily relocated (provided that the Calculation Agent has determined that there is comparable liquidity relative to the futures or options contracts relating to the FTSE 100 Index on such temporary substitute exchange or quotation system as on the original Related Exchange). (xxxiii) RPI means the Retail Prices Index which is an average measure of change in the prices of goods and services bought for the purpose of consumption by the vast majority of households in the UK. The precise measure used for the purpose of the plan is for all items with no seasonal adjustments. The calculation of the RPI Indices is undertaken by the UK Statistics Authority (www.statistics.gov.uk). The UK Statistics Authority s overall objective is to promote and safeguard the quality of official statistics that serve the public good. (xxxiv) Strike Date means 8 September 2008 or, if such date is not a Business Day, the next following Business Day. The Plan Manager provides the FTSE 100 and RPI Combination Plan 1 to you on the following Terms and Conditions (of which the Application Form is a part): 1. On the receipt of a duly completed Application Form and cheque (or banker s draft, telegraphic transfer or any other means acceptable to the Plan Manager) the Plan Manager may accept your application subject to these Terms and Conditions. The Plan Manager reserves the right to reject an application for any reason. The Plan is not available outside the UK. The Plan Manager will give you the right to cancel your Plan within 14 days of the Plan Manager s acceptance of your Application Form in accordance with the requirements of the FSA Handbook.You will be informed of your right to cancel in the information that the Plan Manager sends you on receipt of your application. Alternatively you can write to Investec Administration, PO Box 1008, Ziggurat Building, 25 Grosvenor Road, St Albans, Hertfordshire AL1 9LZ. If you do so, please provide your name and address and the Plan number with clear instructions to cancel your investment. If the Plan Manager receives your cancellation notice after the close of the offer period, and before the Strike Date, it will return to you without interest any cash subscriptions in the Plan. If the Plan Manager receives your cancellation notice after the Strike Date, it will return to you without any interest cash subscriptions that may be subject to a market value adjustment. Where you do not exercise your cancellation rights, the Plan will continue in line with the Terms and Conditions. 2. You must subscribe to your ISA with your own cash or by transfer of cash from an existing ISA. Transfers of cash from existing ISAs will normally be arranged with the existing ISA managers. Once the cash from the existing ISA has been transferred, your ISA will be subject to these Terms and Conditions. In respect of an ISA transfer, a cancellation notice will be sent to you after the funds are received from your previous ISA manager. If, following an ISA transfer you cancel your ISA, you may lose the favourable tax treatment applicable. The Plan Manager reserves the right to withhold any amounts under 1 which cannot be applied to the Plan. The remaining pence will not be returned to you. 3. All transactions relating to this Plan are covered by the Proceeds of Crime Act 2002 and the Money Laundering Regulations 2007 (as amended from time to time) and the guidance notes provided by the Joint Money Laundering Steering Group. The Plan Manager is responsible for compliance with these regulations.you may be asked for proof of identity and evidence of address when investing or on maturity The Plan Manager may also make enquiries of third parties in verifying identity. This would include electronic verification through a third party provider. 4. ISAs can be either cash or stocks and shares. If you are subscribing for a stocks and shares ISA you must not have subscribed and may not subscribe to another stocks and shares ISA in the same tax year. Please note that the Plan Manager only offers the stocks and shares component in this investment. 5. You will immediately inform the Plan Manager in writing if you cease to be a qualifying individual for the purposes of the ISA Regulations. The Plan Manager will notify you if, by reason of any failure to satisfy the provisions of the ISA Regulations, an ISA has, or will, become void. 22

6. The Plan Manager shall not accept any further amounts into an ISA if the ISA Regulations no longer give you the right to invest in that ISA. 7. For Direct Account investments, when Investec Bank (UK) Limited receives your investment, it will be deposited into a Client Money account at HSBC. In the event of Investec Bank (UK) Limited s insolvency during this period, your money will be protected. However, there is a risk that HSBC may fail to meet its obligations. In the event of HSBC s insolvency your money will not be protected and you must rely on your right of recourse to the Financial Services Compensation Scheme. At the Investment Date, your money will be pooled and transferred to an account at Investec Bank (UK) Limited. In the event of Investec Bank (UK) Limited s insolvency during this period, your money will not be protected. In either scenario you may lose all or part of your initial capital investment. Except as stated below interest will not be paid on monies held within client accounts. For the avoidance of any doubt no interest is payable on Client Money held after the Maturity Date or following an early withdrawal from the Plan. Where Early Bird Interest is paid, it will be after deduction of any tax payable and it will be credited to your Account. Early Bird Interest will begin to accrue 4 Banking Days after the date of receipt of your cheque and will be payable at a rate of 4.5% per annum gross until 5 September 2008. The amount of interest invested or reinvested will be rounded down to the nearest whole number of pounds and the balance retained by the Plan Manager. It will be credited once on a simple interest basis. The amount of interest invested or reinvested will be subject to a deduction of lower rate tax of 20% for direct investments. For direct investments a further tax liability may exist for higher rate taxpayers. If you are entitled to receive your interest gross (i.e. without tax being deducted) please complete an R85 registration form and return it with this application.you can find a copy online at www.hmrc.gov.uk/forms/r85.pdf. Or call us on 0845 603 9176 and we will send you one. 8. For ISA Investments, when Investec Bank (UK) Limited receives your investment, it will be deposited into an ISA Client Money account at HSBC. In the event of Investec Bank (UK) Limited s insolvency during this period, your money will be protected. However, there is a risk that HSBC may fail to meet its obligations. In the event of HSBC s insolvency your money will not be protected and you must rely on your right of recourse to the Financial Services Compensation Scheme. At the Investment Date your money will be pooled and transferred to Investec Bank (UK) Limited. In the event of Investec Bank (UK) Limited s insolvency during this period, your money will not be protected. In either scenario you may lose all or part of your initial investment. Except as stated below interest will not be paid on monies held within client accounts. For the avoidance of any doubt no interest is payable on Client Money held after the Maturity Date or following an early withdrawal from the Plan. Where Early Bird Interest is paid it will be after deduction of a 20% flat rate charge. Early Bird Interest will begin to accrue 4 Banking Days after the date of receipt of your cheque and will be payable at a rate of 4.5% per annum gross until 5 September 2008. The amount of interest invested or reinvested will be rounded down to the nearest whole number of pounds and the balance retained by the Plan Manager. It will be credited once on a simple interest basis. 9. On the Investment Date, the Plan Manager will purchase Investments for your Plan. The Investments will be securities that have been specifically structured to match the Investment Objective of your Plan and the terms of which will provide that the amount payable on redemption will be determined by reference to the percentage change (if any) over the security s redemption period in the value of chargeable assets of a particular description. The Plan will be debited immediately Investments are purchased on your behalf and the Plan Manager will not be obliged to account for any interest earned pending settlement. Investment in the Plan will not commit your funds to any extent beyond the amount invested by you. When the Plan Manager purchases and sells Investments in accordance with these Terms and Conditions, it will always be acting as your agent, and not as the agent of the Issuer. 23

FTSE 100 and RPI Combination Plan1 10. For Direct Account investments, after the Investment Date a portion of your initial investment will continue to be held in an account at Investec Bank (UK) Limited and will be applied by the Plan Manager in making payments to you of yearly payments. There is a risk that Investec Bank (UK) Limited may fail to meet its obligations. In the event of Investec Bank (UK) Limited s insolvency your money will not be protected and you must rely on your right of recourse to the Financial Services Compensation Scheme in respect of such amounts. 11. Under the terms of the Plan, the Maturity Date will occur after 5 years and one week. This is explained in the brochure of which these Terms and Conditions are part, under the section headed What are the aims of the FTSE 100 and RPI Combination Plan 1? The Investments are structured so that their value at maturity will correspond to the amount you are due to receive from your Plan at maturity in accordance with the Investment Objective. The Plan Manager will contact you prior to the Maturity Date to inform you of any action required by you. The Plan Manager may, at its discretion, repay maturity proceeds to you by transferring the funds into the bank or building society account from where the initial investment originated. Should this occur you will be informed in writing by the Plan Manager.You should note that once the Plan has matured, the proceeds from the Plan do not earn interest if held by the Plan Manager. 12. The proceeds of an ISA will not be subject to either UK income tax or UK capital gains tax and any gains or losses on your investment will be disregarded for the purposes of UK capital gains tax. Where Investments are held through the Direct Account you may be subject, depending on your personal circumstances, to UK tax on any income paid or any capital gain arising on disposal. These statements are based on current legislation, regulations and practice, all of which may change. 13. Occasions can arise where the Plan Manager, or one of its other clients, will have some form of interest in business which is being transacted for the Plan. If this happens, or the Plan Manager becomes aware that its interests or those of one of its other clients conflict with your interests, you will be informed and asked for your written consent before any transaction is carried out. A copy of Investec Bank (UK) Limited s conflicts policy can be obtained upon request from Investec Administration, PO Box 1008, Ziggurat Building, 25 Grosvenor Road, St Albans, Hertfordshire AL1 9LZ (0845 603 9176). A summary can be found at www.investec.com/unitedkingdom/ukpolicies. 14. Your Investments will be registered in the name of Ferlim Nominees, and documents of title if any will be kept in the custody of the Nominee, who is not authorised under the Financial Services and Markets Act 2000. Such documents of title shall not be lent to any third party and money may not be borrowed on your behalf against the security of those documents. 15. Your Investments will be registered collectively in the name of the Nominee and, although the amount of Investments that you hold will be recorded and separately identified by the Plan Manager, your holding may not be identifiable by separate documents or certificates of title. Therefore, in the event of default, any shortfall in the Investments may be shared pro rata among all investors in the FTSE 100 and RPI Combination Plan 1. 16. The Plan Manager will maintain insurance cover to indemnify you against, amongst other risks, misappropriation of funds or securities by any employee of the Plan Manager. 17. At all times you or your nominated agent may request sight or a copy of entries in the Plan Manager s records relating to your Investments in accordance with the rules of the FSA Handbook. Such records will be maintained for a minimum of seven years after the Investment Date. 18. The Plan Manager will supply you annually with a report on the value of the Investments and any cash held through your ISA and/or your Direct Account. 19. The Plan Manager may employ agents in connection with the services it is to provide and may delegate any or all of its powers or duties to any delegate(s) of its choice in accordance with the ISA Regulations. The Plan Manager will satisfy itself that any person to whom it delegates any of its functions and responsibilities under these Terms and Conditions is competent to carry out those functions and responsibilities. The Plan Manager shall not be liable for the 24