Mr. David Robert Rappaport

INVESTEC USA HIRES DAVID RAPPAPORT AS GENERAL COUNSEL 11/15/2001 New York, November 13, 2001 - Investec USA Holdings, part of the Investec Group (JSE Securities Exchange: INT), today announced that David Robert Rappaport has joined the company as General Counsel.

In his new position, Mr. Rappaport is responsible for legal and compliance services for Investec USA and its US-based divisions, Investec Ernst & Company and Investec PMG Capital Corp.

Mr. Rappaport has been practicing law since 1984.For the past ten years he has been with Gruntal & Co., rising from a line assistant handling litigation to the role of Senior Vice President and General Counsel.In that post, he managed the company's legal and compliance departments, including Capital Markets, Litigation, Regulatory, and Investment Advisory counsels.
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"As we further expand the base and breadth of our business - particularly in the investment banking arena - we feel David has the ideal experience to help guide us on that path," Mr. Segall said.
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Mr. Murabito added that, "David will play an important role at Investec in coordinating regulatory and legal issues on a global basis.
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Prior to joining Gruntal, Mr. Rappaport was an Associate at a New York law firm, specializing in commercial and securities litigation.He spent the first five years of his legal career as an Assistant District Attorney in Kings County (Brooklyn, NY).While in law school, he worked at the U.S. International Trade Commission and the Agency for International Development.

Mr. Rappaport is a Member of the New York State Bar and was admitted to the United States District Court.He earned a J.D. from the Washington College of Law at American University and received a B.A. in International Relations from Lafayette College.
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David Rappaport, General Counsel, Investec USA Holdings Corp212-898-7440 or drappaport@investecernst.com

David Rappaport (Japheth) recently appeared as Benny Benson in the original production of Isaac's Window.
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When not on stage, David is General Counsel for Gruntal & Co., L.L.C., a national broker-dealer/investment bank. Many thanks to his wonderful family for their support.

NEW YORK , Nov. 13 /PRNewswire/ -- Investec USA Holdings , part of the Investec Group , today announced that David Robert Rappaport has joined the company as General Counsel.

In his new position , Mr. Rappaport is responsible for legal and compliance services for Investec USA and its US-based divisions , Investec Ernst & Company and Investec PMG Capital Corp..

Mr. Rappaport has been practicing law since 1984.For the past ten years he has been with Gruntal & Co. , rising from a line assistant handling litigation to the role of Senior Vice President and General Counsel.In that post , he managed the company's legal and compliance departments , including Capital Markets , Litigation , Regulatory , and Investment Advisory counsels.At Gruntal Mr. Rappaport played an integral part in the reorganization of the legal and compliance departments and served as the firm's liaison to industry regulators.

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As we further expand the base and breadth of our business - particularly in the investment banking arena - we feel David has the ideal experience to help guide us on that path , Mr. Segall said.
...
Mr. Murabito added that , David will play an important role at Investec in coordinating regulatory and legal issues on a global basis.
...
Prior to joining Gruntal , Mr. Rappaport was an Associate at a New York law firm , specializing in commercial and securities litigation.He spent the first five years of his legal career as an Assistant District Attorney in Kings County.While in law school , he worked at the U.S. International Trade Commission and the Agency for International Development.

Mr. Rappaport is a Member of the New York State Bar and was admitted to the United States District Court.He earned a J.D. from the Washington College of Law at American University and received a B.A. in International Relations from Lafayette College.

In the United States , Investec USA Holdings through its wholly owed subsidiary Investec Ernst & Company provides domestic and international securities clearance and settlement , listed and OTC execution services in securities and options , asset management , investment banking services , retail research , mutual fund and unit trust advisory services.

Investec Ernst & Company's Private Client Group through its nearly 400 registered representatives offers a wide range of financial services to retail , institutional , and professional clients around the world.The Investec PMG Capital subsidiary is a registered broker / dealer specializing in corporate finance , asset management , institutional research and sales.

Investec USA Holdings is part of the Investec Group , an international specialist - banking group , which provides a wide range of specialized products and services to a select client base in 15 countries worldwide.