Final Results

Anglo Pacific Group PLC
11 April 2003


FOR IMMEDIATE RELEASE                                            11 APRIL 2003





                             ANGLO PACIFIC GROUP PLC


                      PRELIMINARY RESULTS FOR THE YEAR ENDED


                                31 DECEMBER 2002


                                   HIGHLIGHTS


• Total dividends of 1.75p net per share

• Group profits before tax up by 46% to £5,191,000 (£3,545,000)

• Australian coal royalty receipts up by 47% to £5,802,000 (£3,942,000)

• Earnings up by 45% to 4.09p per share (2.83p)

• Cash of £3.8M

• Substantial interests in other coal, gold and PGM projects



Commenting on the results Anglo Pacific's Chairman, Peter Boycott, said:

'It is a pleasure to report record results and the payment of substantial
dividends for the last half year. With the continued expansion of our Canadian
coal interests and the positive outlook for the various gold and PGM projects,
the Board looks forward with confidence to further development of its strategic
interests in these sectors'


For further information please call:

Jonathan Rooper, CardewChancery

Tel: [phone]



                             Anglo Pacific Group PLC


                            Preliminary Results 2002


                                CHAIRMAN'S REVIEW



RESULTS

Following record royalty receipts from our Australian coal mining interests,
Group profits before tax increased by 46% to £5,191,000 compared to £3,545,000
for the previous year. Group turnover on continuing businesses increased by 47%
to £5,802,000 (2001:£3,942,000). The profit after tax and minority interests was
£3,560,000 (2001:£2,459,000), an increase of 45%.


Following the capital reduction of the Company's shares from 10p to 2p per share
on 2nd August 2002, the Company is able to pay dividends on profits arising
after 30th June 2002. The Company paid an interim dividend of 1.1p net per share
on 14th January 2003. The Board now proposes to pay to shareholders at the close
of business on 11th July 2003, for payment on 31st July 2003, a further dividend
of 0.65p net per share. This makes a total of 1.75p net per share in respect of
the six months period ended 31st December 2002.


In addition to its coal mining interests independently valued at A$81.4M the
Company now has a number of operational interests and quoted stakes in Gold and
Platinum Group Metals ('PGM') projects totalling a further £2,910,000 at cost
with a mid-market value at 31st December 2002 of £3,037,000. The Group held cash
of £3.8M on deposit at the year-end.


OPERATIONAL REVIEW

COAL ENERGY INTERESTS

These comprise our coal royalty interests in Queensland, Australia and various
coal and coal bed methane assets in British Columbia, Canada.

COAL ROYALTIES

In Australia, coal royalty receipts from the Kestrel and Crinum mines, operated
by Rio Tinto and BHP respectively, increased by 47% to £5,802,000 (2001:
£3,942,000).

The independent valuation of these interests at the year-end was A$81.4M, based
on the net present value of the pre-tax cashflow discounted at a rate of 7%. The
change in the valuation compared to last year has been adjusted to revaluation
reserve.

COAL DEPOSITS

Your Company continues to evaluate and expand its Canadian coal deposits in
British Columbia with its 50% holding in the Groundhog and Peace River projects.
The outlook for developing these resources has improved during the year due to
increased energy prices and the more positive political climate in British
Columbia.

COAL BED METHANE

During the year your Company acquired a 25% interest in Gosfield which owns a
substantial share of the Merritt coal and coal bed methane project in British
Columbia. Interest in this form of energy has increased sharply in recent months
and your Company is actively looking for partners to take this project forward.

GOLD AND PLATINUM GROUP METALS

Your Company has invested nearly £3M in gold and platinum projects in North
America and Australia. Press releases relating to some of these projects can be
found, together with other information, on the Company's website
www.anglopacificgroup.com.

The Company's strategy is to acquire projects that expect to yield dividend and
royalty cashflow as well as substantial share appreciation in the next two to
five years. The Company has made a number of strategic mining acquisitions and
has announced two substantial stakes: -

• The Company has a 6.4% stake in Kirkland Lake Gold ('KLG') in Northern
Ontario, Canada. KLG has restarted the Macassa mine and also owns the four
adjacent former producing mines that together have produced 22 million ounces of
gold over a seventy year period. KLG continues to discover gold at grades in
excess of 16 grams per ton and expects to produce circa 100,000 ounces of gold
in fiscal 2004.

• Your Company has a 10.6% stake in Platinum Australia Ltd ('PLA') which
owns the Panton project in the Kimberley region of North West Australia where a
mine producing PGMs is expected to start up within the next twelve months.
Lonmin is a major shareholder in this project.

MARBLE

During the year Ledmore Marble was sold for £275,000 which resulted in a profit
of £75,000 before writing off inter-company loans of £144,000.

TALC

Your Board continues to extend and improve its talc interests in Shetland in
order to sell or find a joint venture partner for the project.

BOARD APPOINTMENTS

On 3rd March 2003 Mr Michael Chanarin resigned to pursue his other business
interests. The Board thanks him for all his hard work and efforts on behalf of
the Company during his time as a Director. We all wish him well in his future
career. I welcome to the Board Dr John Whellock and Mr Anthony Yadgaroff who
were appointed non-executive Directors on 3rd March 2003.

I also wish to thank all our staff and my fellow Directors for their continued
application and hard work in what has been a busy and very positive year of
change for the Group.

STRATEGY

The Board intends to continue paying a proportion of the coal royalty as
dividends to shareholders. In addition we will pursue an active mining
participation strategy using the balance of our cashflow for the Gold and PGM
sectors in Australia and North America. This will involve:-

• Other royalty and profit sharing cashflows

• Strategic acquisitions in mining operations that have significant
discovery or increased production potential

• Development of the Company's Canadian coal deposits and coal bed
methane interests by negotiating carried interests at the appropriate time to
achieve further royalty cashflows

• Utilisation of circa 40p per share of tax losses available to the Group

• Sale or joint venture of the talc interests

In pursuing these strategies and to strengthen the mining, operational and
technical skills available to the Board, the Board has recently appointed an
advisory panel to assist it in its analysis of mining projects. Details of the
three advisers are set out in the Directors' Report.

ATTRIBUTABLE ASSETS

In order for shareholders to more clearly appreciate the potential commercial
value of your Company's interests, the latest attributable asset position of
your Company's acquisitions in key coal, gold and PGM projects around the world
is summarised below. The guideline figures are estimated in proportion to the
holding that your Company has in each project based on latest published data:-

Australian Coal Royalty                             78 M tons coal

Canadian Groundhog, Peace River & Merritt           426 M tons coal

Canadian Coal Bed Methane                           4.4 Billion cu ft cbm

Canadian Gold at Kirkland & Oxford Lake             186 K ozs gold

Australian Platinum at Panton (PLA)                 276 K ozs pgms


Shareholders are again referred to the Company's website for further information
on this and the Company's other operational interests.

OUTLOOK

With the current positive outlook for gold and PGMs and the Company's continuing
steady coal royalty cashflows, the Board is optimistic about the prospects for
the year ahead.

Finally I wish to thank shareholders for their continued support.

P.M. BOYCOTT

Chairman

11th April 2003


ANGLO PACIFIC GROUP PLC
CONSOLIDATED PROFIT AND LOSS ACCOUNT
YEAR ENDED 31 DECEMBER 2002

                                                                2002      2001
                                                              £000's    £000's
Turnover
Continuing operations                                          5,802     3,942
Discontinued operations                                          142       183
                                                                ____      ____
                                                               5,944     4,125
                                                                ____      ____
Cost of sales

Continuing operations                                              -         -
Discontinued operations                                         (169)     (210)
                                                                ____      ____
                                                                (169)     (210)
                                                                ____      ____
Gross profit                                                   5,775     3,915
                                                                ____      ____
Continuing operations
Administrative expenses                                         (733)     (574)
Profit on disposal of investments                                  7        92
Other operating income                                           120       100
                                                                ____      ____
Operating profit from continuing operations                    5,196     3,560
                                                                ____      ____
Discontinued operations
Administrative expenses                                          (57)     (156)
                                                                ____      ____
Operating (loss) from discontinued operations                    (84)     (183)
                                                                ____      ____
Total operating profit                                         5,112     3,377
Profit on disposal of subsidiaries                                75       229
Interest received                                                148        38
Write down of assets                                            (144)      (99)
                                                                ____     _____
Profit on ordinary activities before tax                       5,191     3,545
Taxation on ordinary activities                               (1,631)   (1,118)
                                                                ____     _____
Profit for the financial year                                  3,560     2,427
Minority Interests                                                 -        32
Dividends:  Interim                                             (957)        -
            Final                                               (568)        -
                                                                ____     _____
Retained profit for the financial year                         2,035     2,459
                                                              ======   =======
Earnings per ordinary share                                     4.09p     2.83p
Diluted earnings per ordinary share                             4.03p     2.76p
                                                              ======   =======

STATEMENT OF TOTAL RECOGNISED                                   2002      2001
GAINS AND LOSSES                                              £000's    £000's
Retained profit for the financial year                         2,035     2,459
Unrealised revaluation of Australian royalty interests        (2,274)    4,156
Currency translation surplus/(loss) on foreign currency
investments                                                       24      (54)
                                                                ____     _____
                                                                (215)    6,561
                                                              ======   =======


ANGLO PACIFIC GROUP PLC
CONSOLIDATED BALANCE SHEET
AT 31 DECEMBER 2002

                                                      2002                2001
                                          £000's    £000's    £000's    £000's
Fixed assets
Tangible assets                                        839               1,009
Investments                                         31,623              30,990
                                                     _____               _____
                                                    32,462              31,999
Current assets
Stocks                                         -                 121
Debtors                                    1,091                 980
Cash at bank and in hand                   3,766               2,212
                                           _____               _____
                                           4,857               3,313

Current liabilities
Creditors - amount falling due within
one year                                  (2,473)               (535)
                                            ____                ____

Net current assets                                   2,384               2,778
                                                     _____               _____
Total assets less current liabilities               34,846              34,777

Long term liabilities
Provisions for liabilities and charges                (411)               (217)
                                                     _____               _____
                                                    34,435              34,560
                                                   =======             =======

Capital and reserves
Called up share capital                              1,749               8,696
Share premium account                                  420               2,581
Capital redemption reserve                               -                 122
Revaluation reserve                                 27,000              29,274
Foreign currency translation reserve                    81                  57
Special reserve                                        632                   -
Profit and loss account surplus/(deficit)            4,553              (6,170)
                                                     _____               _____
Equity shareholders' funds                          34,435              34,560
                                                   =======              ======


ANGLO PACIFIC GROUP PLC
CONSOLIDATED CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2002

                                                      2002                2001
                                          £000's    £000's    £000's    £000's

Net cash inflow from operating                       5,029               3,865
activities
Returns on investments and servicing
of finance
Interest received                            148                  49
Interest paid                                  -                 (10)
Interest paid on finance leases                -                  (1)
                                           _____               _____
Net cash inflow from returns on
investments and servicing of finance                   148                  38

Taxation
Overseas tax paid                           (995)             (1,199)
UK Income tax                                  -                   -
                                           _____               _____
                                                      (995)             (1,199)

Capital expenditure and financial investment

Payments to acquire tangible fixed
assets                                       (85)                (32)
Receipts from sales of tangible fixed
assets                                         -                  37
Sale of equity investments                    76                 106
Purchase of equity investments            (2,977)                 (2)
                                           _____               _____
Net cash (outflow)/inflow from capital
expenditure and financial investment                (2,986)                109

Acquisitions and disposals
Disposal of subsidiaries (net of expenses)             268                  56
                                                     _____               _____

Net cash inflow before financing                     1,464               2,869

Financing

Issue of ordinary share capital               90                   -
Capital element of finance lease               -                  (2)
repayments
Repayment of borrowings                        -                (850)
                                           _____               _____
Net cash inflow/(outflow) from                          90                (852)
financing
                                                     _____               _____
Increase in cash                                     1,554               2,017
                                                     _____               _____


Notes

1.  Earnings per ordinary share is calculated on the Group's profit after
tax of £3,560,000 (2001 - £2,459,000) and the weighted average number of shares
in issue during the year of 86,997,202 (2001 - 86,962,955).


The diluted earnings per ordinary share is calculated on a profit after tax of
£3,584,000 and 88,923,202 shares.


2.  The above figures do not constitute full accounts within the meaning
of Section 240 of the Companies Act 1985. The figures for the year ended 31st
December 2001 constitute abridged accounts extracted from the published accounts
for the year which have been filed with the Registrar of Companies and on which
the auditors' report was unqualified. The audit opinion on the accounts for the
year ended 31st December 2002 has not yet been signed.






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