Statement re Possible Offer

Brancote Holdings PLC
8 November 2000


Date          8 November 2000

Contacts      Richard Prickett, Chairman
              Bill Humphries, Managing Director
              Brancote Holdings PLC                          020 7493 1002

              William Staple
              Benfield Advisory Limited                      020 7578 7070

              David Bick
              Holborn Public Relations                       020 7929 5599
                                                [e-mail]


                            BRANCOTE HOLDINGS PLC

The  Directors  of  Brancote  Holdings  PLC ('Brancote') are continuing to
review the  strategic options available to the company  as outlined in the
announcement of 15 June 2000.

As a  result of  this process the  Directors have entered into discussions
with a select number of multi national mining companies  which  may or may
not lead to an offer for the share capital of Brancote.   It is emphasised
that  these  discussions are  at an  early  stage and  the  Directors  are
continuing to examine the other options available to the Company.

A  progress  report on the Company's 60 per cent owned Esquel gold project
in Argentina was announced on 30 October 2000.   The Company's priority is
to  complete  the  third  phase  drilling  programme  referred  to in this
announcement by mid-December.


Benfield Advisory Limited, which is regulated in the United Kingdom by the
Securities  and  Futures  Authority  Limited,  is  acting  exclusively for
Brancote in relation to this announcement and for no-one else and will not
be  responsible  to any other person for providing protections afforded to
customers of Benfield Advisory Limited or for providing advice in relation
to  this  announcement  or  in  relation to any transaction or arrangement
referred to herein.