Prospectus Filed for Largest Investment

RNS Number : 0786M

Baker Steel Resources Trust Ltd

12 September 2012

BAKER STEEL RESOURCES TRUST LIMITED

(Incorporated in Guernsey with registered number 51576 under the provisions of The Companies (Guernsey) Law, 2008 as amended)

12 September 2012

Prospectus Filed for Largest Investment

Baker Steel Resources Trust Limited (the "Company") announces that its largest investment Ivanplats Limited ("Ivanplats") yesterday filed its preliminary prospectus in Canada in anticipation of an Initial Public Offering ("IPO") and listing on the Toronto Stock Exchange.

The investment in Ivanplats represented 30.7% of the Company's unaudited net asset value as at 31 August 2012.

As part of the IPO process, Ivanplats has implemented a reorganisation of its shares approved at its AGM on 26 May 2011, whereby the shares of all existing shareholders are subject to lock-up arrangements of six months to thirty-nine months. Further details are available in Ivanplats' preliminary prospectus.

There is no information available about the expected price range for the IPO or the timing for its completion. Further announcements will be made by the Company as Ivanplats announces additional information.

Ivanplats' preliminary prospectus is available on the Canadian information service SEDAR on http://www.sedar.com/GetFile.do?lang=EN&docClass=9&issuerNo=00033595&fileName=/csfsprod/data134/filings/01959806/00000001/C%3A\SEDAR\FILINGS\Ivanplats\INP_PrelimProspEN.pdf

Further details of the Company and its investments are available on the Company's website www.bakersteelresourcestrust.com

Enquiries:

Baker Steel Resources Trust Limited +44 20 7389 8237

Francis Johnstone
Trevor Steel

RBC Capital Markets +44 20 7653 4000

Martin Eales

Winterflood Investment Trusts +44 20 3100 0250

James Moseley

Pelham Bell Pottinger

Lorna Spears +44 20 7861 3883

Joanna Boon +44 20 7861 3867