Issue of Equity

Brancote Holdings PLC
5 February 2002

                             Brancote Holdings Plc

                         Placing and Additional Listing

The Company is pleased to announce that they have placed 2,169,240 new ordinary
shares at 120p per share to raise approximately £2.6m of working capital to fund
the ongoing feasibility study at the Esquel Gold Project in Argentina. The
shares have been placed through the Company's broker, Seymour Pierce Limited,
with institutional clients.

Application has been made for these shares to be admitted to the Alternative
Investment Market of the London Stock Exchange and admission is expected on 12
February 2002. The new shares will rank pari passu with the existing ordinary
shares in the Company.


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