Agreement with Mitsubishi

Jubilee Platinum PLC
13 December 2006



    Mitsubishi Corporation and Jubilee Agree to US$16 Million Investment in
              Jubilee's SA Subsidiary Windsor Platinum Investments


Jubilee Platinum Plc ('Jubilee' or 'the Company') announces that it and its
wholly owned South African subsidiary Windsor Platinum Investments (Pty) Limited
('Windsor') have entered into a Convertible Loan Note Instrument constituting up
to US$16,000,000 Convertible Loan Notes ('Notes') with Mitsubishi Corporation 
('Mitsubishi'). The Notes are convertible into Windsor shares.


Highlights


•         Mitsubishi intends to invest US$16 million for a strategic stake in
          Jubilee's South African holding company (Windsor)


•         Initial investment of US$4 million made


•         Jubilee incurs no debt as a result of investment


•         Major new partner recognises Jubilee's property value


•         This investment furthers Jubilee's ambitions for  South African
          platinum group metals ('PGM') production


Colin Bird, Chief Executive Officer of Jubilee, said: 'We are particularly
pleased to have entered into this agreement with Mitsubishi further to the
listing of Jubilee's shares on the Johannesburg Stock Exchange. This instrument
by Mitsubishi provides us with a strong position from which to grow and develop
aggressively our PGM mission in South Africa.  Mitsubishi's investment is an
endorsement of the inherent value of our South African PGM portfolio. This
transaction provides significant funding for our South African exploration
without any dilution of Jubilee's share register. We welcome Mitsubishi as a
significant partner in Windsor.'



Mitsubishi said: 'We are pleased to have made this agreement with Jubilee and
look forward to working with them on their South African projects.'


Key Terms of the Instrument



•   Zero-interest Notes of up to US$16 million in one year


•   Windsor / Jubilee incur no debt, since failure to convert Notes within
    two years cancels the Notes


•   US$4 million first tranche Notes immediately payable by Mitsubishi


•   Second and third tranche Notes in equal amounts of US$6 million each,
    payable in March and September 2007 respectively at Mitsubishi's election


•   Mitsubishi will have the right within two years from September 2007 to
    convert all or part of the aggregated Notes into Windsor Ordinary Shares,
    provided that such conversion will not result in Mitsubishi holding more 
    than 20% indirect beneficial interest in the Tjate project.


•   Any Notes not converted after 24 months will be cancelled


•   The Notes issued will rank parri passu in all respects as direct,
    unsubordinated and unsecured obligations of Windsor


About Mitsubishi Corporation



Mitsubishi Corporation is Japan's largest trading company with over 200 bases of
operation in approximately 80 countries worldwide. Mitsubishi has long been
engaged with customers around the world in virtually every industry and is
recording particularly strong performances in resources related businesses such
as Energy and Metals.


About Windsor


Windsor is Jubilee's wholly owned platinum investment arm in South Africa. It
holds a portfolio of PGM properties in the Bushveld Complex including its
flagship Tjate property.

For further information please contact:

Colin Bird                           Cathy Malins / Annabel Leather

Jubilee Platinum plc                 Parkgreen Communications Ltd

Tel [phone]             Tel [phone]


                      This information is provided by RNS
            The company news service from the London Stock Exchange