Acquisition

Anglo-Eastern Plantations PLC
18 March 2004

           ANGLO-EASTERN PLANTATIONS MAKES US$10 MILLION ACQUISITION

Anglo-Eastern Plantations Plc, which owns over 25,000 hectares of plantations,
primarily in Indonesia, has acquired the entire issued share capital of P T Bina
Pitri Jaya, an Indonesian company whose principal asset is Bina Pitri Estate, a
planted oil palm estate of land title area of 4,329 hectares. Plantation land in
Indonesia is held under leases of between 25 and 35 years which are renewable.
The lease of Bina Pitri runs to 2033 when it should be renewable.

The planted area is about 4,400 hectares of which about 200 hectares are planted
in an extension area of 2,000 hectares over which the temporary land rights have
expired. Steps will be taken to obtain title over about 500 hectares of this
area.

The transaction requires the approval of the Indonesian Investment Co-ordination
Board which has indicated its approval in principle.

The total consideration is US$10 million, including US$2.8 million of confirmed
third party liabilities which require to be settled by the end of March 2004.
Other than the estate, there are no significant assets in the company purchased.
Financial data from the company is not comprehensive but sufficient for us to
enter the contract; 5% of the consideration is deferred for three months against
undisclosed liabilities. The consideration is payable in cash from
Anglo-Eastern's own resources. A local minority shareholder, of up to 20%, may
be introduced later.

Bina Pitri is located in the province of Riau in central Sumatra, about 50km
from the provincial capital, Pekanbaru, and about 180 km to the south east of
Anglo-Eastern's Tasik plantation. Riau has a large and well-developed plantation
industry. The estate has no oil mill, but fresh fruit bunches (FFB) will be sold
to mills nearby. Terrain and rainfall are very suitable for oil palms.

Planted on average about 8 years ago, the estate is in need of rehabilitation,
the cost of which is expected to require a further US$1million. The initial
annual crop of fresh fruit bunches is expected to be about 30,000mt (less than
10% of the existing group's), but this should build up strongly over the next
few years. Profit contribution in the first year is unlikely to be material.

Mr T H Chan, Chairman, commented 'The acquisition of Bina Pitri oil palm estate
is the first step in Anglo-Eastern's strategy to grow in part through the
acquisition of medium-sized planted estates, as well as through development of
our existing land reserves, by taking advantage of the strength of the group's
balance sheet. Total planted area of the group following this acquisition will
be 30,000ha.'

Enquiries:

Anglo-Eastern Plantations Plc                                    020-7236 2838
Rollo Barnes (Financial Director)

Bankside Consultants Limited
Charles Ponsonby                                                 020-7444 4166


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