Acquisition

Jubilee Platinum PLC
29 July 2003


                                                            JUBILEE PLATINUM plc
                                                               37 Thurloe Street
                                                                  London SW7 2LQ
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Press Release
Embargoed: 7:00am 29th July 2003


                              Jubilee Platinum plc

  -          Acquires options on substantial land package with platinum group
     metal (PGM) potential in the western Bushveld Complex of South Africa

  -          Applies for prospecting permits for its optioned eastern Bushveld
                                  properties,
             in conjunction with South African empowerment partner

Jubilee Platinum plc ('Jubilee'), the AIM quoted platinum exploration company,
is pleased to announce that its 90% owned South African subsidiary Maude Mining
& Exploration (Pty) Ltd ('Maude') has entered into prospecting and purchase
option agreements on a substantial land package.  The concession, which totals
1962 hectares with PGM potential in the western Bushveld Complex, will
complement Jubilee's already significant optioned PGM property holdings in the
eastern Bushveld Complex.

Jubilee firmly believes that due to the lack of global competing PGM geological
environments, land acquisitions of this nature are and will become increasingly
crucial to future world PGM supply. The Company's mission is to acquire property
in areas with demonstrated sound geological PGM potential in order to build on
its growing PGM land position.

The package, comprising six properties, is located in the Rustenburg and Brits
magisterial districts of the western Bushveld.

The terms of the option agreements for the four properties in Rustenburg (1365
hectares) and two in Brits (597 hectares) include cash payments and purchase
price, on success, for the surface and mineral rights.

The properties, which have been carefully evaluated are located in favourable
PGM geological environments and prolific platinum producing areas, which host
nearby platinum development projects and producing platinum mines, including
Marikana, Western Platinum mine, Karee Platinum mine, Aquarius Platinum, Eastern
Platinum mine, Anglo Platinum's Pandora UG2 property and the Crocodile River
mine.

The Properties

The Rustenburg properties are situated some 40km northwest of Rustenburg.

The overlying cover on the properties includes material believed to derive from
the important zonal platinum bearing Rustenburg Layered Suite (RLS).

In the Brits area, the important platinum bearing UG2 chromitite reef is
believed to be present on the properties, and if so, by interpretation and
interpolation it could extend up to 8km in two separate zones.

The surrounding Karee Platinum, Western Platinum and Aquarius Platinum
operations are currently working the UG2 reefs.

These properties add considerably to Jubilee's existing optioned PGM property
portfolio of more than 4300 hectares in the eastern limb of the Bushveld
Complex, held by its subsidiary Dullstroom Plats (Pty) Ltd ('Dullstroom').

Prospecting Permit Application - Eastern Bushveld

Jubilee is also pleased to announce that Dullstroom together with K-Plats (Pty)
Ltd, its black empowerment partner, have formally submitted applications for
prospecting permits to the Department of Minerals and Energy, for its optioned
eastern Bushveld properties. The application submissions are an important
exploration milestone.

Dullstroom's eastern Bushveld PGM properties lie some 15km south of Anglo
American's Der Brochen platinum mine development and on the postulated strike
extension of the platinum bearing Merensky and UG2 reefs.  Based on an
independent geological appraisal, Jubilee believes that the Merensky and UG2
reefs continue southwards under its tenements.  Drilling targets have been
established to target the two reefs.

 Ends

For further information please contact:

Colin Bird                                  Justine Howarth / Cathy Malins
Jubilee Platinum plc                        Parkgreen Communications Ltd
Tel [phone]                           Tel [phone]



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