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Top-ranked energy specialists join Commodities and Resources investment team

12 February 2008 Investec Asset Management

Investec Asset Management is pleased to announce that it has appointed Mark Lacey and Jonathan Waghorn to join its Commodities and Resources Investment Team.

Lacey and Waghorn, who will be based in Investec Asset Management’s London office, were previously employed at Goldman Sachs as Executive Directors and were joint heads of its highly ranked Energy Research team. In 2007, Lacey was the number one rated oil and gas analyst in the leading investment survey “Thompson Extel”. Waghorn was rated a 5-star analyst by “Starmine” for his stock-picking and earnings estimates in the oil and gas sector, one of only two 5-star analysts in this sector.

Domenico Ferrini, Investment Director at Investec Asset Management commented:

“Expertise in the Commodities and Resources area is a key part of the portfolio of specialist capabilities which support the business model of Investec Asset Management. The recruitment of a top calibre team demonstrates our long-term commitment to the Commodities and Resources proposition. Commodity related investing has been one of the corner stones of our investment business since inception in 1991 in South Africa, a resources-led economy.”

Investec Asset Management currently manages over $65bn globally and in excess of $5bn in commodities and resource related assets, including the successful Global Energy and Global Gold Funds and the new Investec Global Commodities & Resources Hedge Fund, which has returned in excess of 41% since its launch1) in January 2007.

The Commodities and Resources team will now comprise seven members with an average of over ten years experience in commodity and resource markets.

Given the global nature of commodity markets, the team – with its diverse background in both financial markets and industry – has members operating from London as well as Cape Town.

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