Net Asset Value(s)

MAJEDIE INVESTMENTS PLC

The unaudited consolidated net asset value of the Ordinary shares of the
Company at the close of business on 30 May 2008 was as follows:

With debentures at par value: 422.96 pence per share

With debentures at fair value: 408.48 pence per share

Following the change in accounting for our investment in Majedie Asset
Management Limited (MAM), as disclosed in our March 2008 Half-Yearly Financial
Report, the net asset values above include MAM at its fair value as assessed at
31 March 2008. The fair value of the debentures has been estimated using
information supplied by FT Interactive Data.