Private Client Activities Partner of choice from wealth creation to wealth management Scope of activities Private Client Activities comprises two businesses: Private Banking and Private Client Portfolio Management and Stockbroking Private Banking Activities -   Banking Activities -   Growth and Acquisition Finance -   Investment Management and Advisory Services -   Specialised Lending -   Structured Property Finance -   Trust and Fiduciary Services Target market -   Ultra high net worth individuals -   Active wealthy entrepreneurs -   High income professionals including property developers and investors, self-employed entrepreneurs, management buyout and management buy-in candidates and sophisticated investors Private Client Portfolio Management and Stockbroking Activities -   Investment portfolio management and stockbroking Target market Private Client Securities, South Africa:  High net worth individuals Rensburg Sheppards plc, UK: Transaction concluded in May 2005, see page 43. Strategic focus Private Banking Investec Private Bank positions itself as the “investment bank for private clients”, offering specialist financial services to our chosen target market. This strategy is underpinned by the fundamental and aspirational philosophy of “out thinking” as opposed to “out muscling” competitors. Private Client Portfolio Management and Stockbroking South Africa Mission:To be the premier South African portfolio management and stockbroking house We differentiate ourselves by: • Continually demonstrating superior portfolio management returns to clients. • Introducing new discretionary and non-discretionary products and services. • Offering clients additional value through products developed within the broader Investec group. • Enhancing client focus with teams offering specialist solutions to clients. • Leveraging cross-sell opportunities within the Investec group.