Rejection of Offer

Aminex PLC
14 March 2002



                                   Aminex PLC

                          ("Aminex" or "the Company")


           Rejection of Offer by Apple Oil and Gas Limited ("Apple")


The Board of Aminex notes the Offer Document issued today by Apple.  The
Directors of Aminex, who have been so advised by Davy Corporate Finance Limited,
strongly believe that Apple's Offer is wholly inadequate, severely understates
the potential and prospects of Aminex, and should be rejected by Aminex
Shareholders. The Directors and their advisers are considering the contents of
the Offer Document and will shortly issue a document to Aminex Shareholders
setting out in full the reasons why the Board believes they should reject
Apple's pitiful and uncertain Offer.  In the meantime, the Board of Aminex
continues to advise Aminex Shareholders to take no action in respect of Apple's
Offer.

Brian Hall, Chief Executive of Aminex, said today:

"There is nothing in Apple's document to change our original view that their
offer is speculative and uncertain.  Our shareholders have no guarantee of
receiving anything if they accept.  Apple are basically saying 'Give us your
company and we may pay you back later'.  On the other hand, they may not.  The
one thing that is certain is the £3 million to which they intend to help
themselves."

14 March 2002

Enquiries:

Aminex PLC                                            [phone]
Brian Hall

Davy Corporate Finance Limited                        [phone]
Hugh McCutcheon

College Hill                                          [phone]
James Henderson
Archie Berens

Dennehy Associates                                    [phone]

Michael Dennehy



Responsibility Statement

The directors of Aminex accept responsibility for the information contained in
this announcement except that the only responsibility accepted in respect of the
information relating to Apple, which has been complied from published sources,
is to ensure that it has been correctly and fairly reproduced and presented.
Subject as aforesaid, to the best of the knowledge and belief of the directors
of Aminex (who have taken all reasonable care to ensure that such is the case),
the information contained in this announcement for which they accept
responsibility is in accordance with the facts and does not omit anything likely
to affect the import of such information.

Davy Corporate Finance Limited, which is authorised to carry on investment
business in Ireland by the Central Bank of Ireland, is acting exclusively for
Aminex and no one else in connection with the offer and will not regard any
other person as its client or be responsible to any person other than Aminex for
providing the protections afforded to clients of Davy Corporate Finance Limited,
nor for giving advice to any such person in relation to the offer.

Davy Corporate Finance Limited has approved the contents of this announcement
solely for the purpose of section 21 of the Financial Services and Markets Act
2000. The principal place of business of Davy Corporate Finance Limited is Davy
House, 49 Dawson Street, Dublin 2, Ireland.

Davy Corporate Finance Limited has given and has not withdrawn its consent to
the issue of this announcement with the inclusion of its advice in the form and
context in which it is included.



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