Acquisition of Shareholding

7 November 2002

ANGLO PACIFIC GROUP ACQUIRES 8% STAKE IN PLATINUM AUSTRALIA

Anglo Pacific Group PLC (APG) is pleased to announce that it has acquired
4,800,000 shares in Platinum Australia Limited ('PLA') for a cash consideration
of £520,000.  This represents 8% of the issued share capital of PLA prior to a
rights issue currently in progress.

PLA, which is listed on the Australian Stock Exchange, proposes to become
Australia's first dedicated platinum producer through its Panton Sill project
in the Kimberley region of Western Australia.  PLA has announced that the
project comprises a mining and concentrating operation utilising a resource
of 2.6moz of PGMs (primarily platinum, palladium and gold) at a grade of over
5g/t, with a further 2moz of lower grade PGM resource and significant
exploration potential.  The estimated 16 million tonne deposit at Panton Sill
is believed to have many similarities with the South African Bushveld complex.

Lonmin Australia, which is a subsidiary of Lonmin UK, is the major shareholder
in PLA.  Its current holding is 38.5% of the issued share capital prior to the
rights issue.  It is expected that APG will emerge as the second largest
shareholder in PLA as a result of this purchase.  PLA is in the process of
completing a rights issue that is fully underwritten by Lonmin Australia.

This purchase is part of Anglo Pacific Group's strategy to seek more active
participation in high quality resource opportunities, of which there are a
number of others currently under consideration.

Further information:

Brian Wides                   Anglo Pacific Group    0208 455 2708             
                                                                               
Jonathan Rooper / Gavin Barry CardewChancery         0207 930 0777             
                                                                               

www.anglopacificgroup.com