Interim Results

Jubilee Platinum PLC
24 February 2006



                              Jubilee Platinum Plc
                          ('Jubilee' or 'the Company')

           Interim Results for the six months ended 31 December 2005

The Directors have pleasure in presenting the Company's unaudited accounts for
the six months ended 31 December 2005.

Highlights

•  Four boreholes drilled on the Company's flagship Tjate Platinum project in 
   the Bushveld Complex of South Africa

   • all intersected the targeted platinum group metal ('PGM')-bearing
     Merensky and UG2 reefs at projected grades and reef thicknesses

•  Drilling commenced on the Londokomanana nickel-copper-PGM project in
   Madagascar

   • three boreholes intersected thick nickel-copper-PGM mineralised
     formations (48 to 92 metres) at relatively shallow depths with weighted
     average grades of up to 0.62% nickel, 0.12% copper (in Antsahabe),
     including a 5 metre interval at 1.0% nickel  and a 1.7 metre interval at
     2% nickel

   • The wide formation thicknesses and shallow intersections indicate the
     potential for bulk mining targets.

•  Targets for drilling identified on the Lanjanina nickel-copper property in 
   Madagascar

•  A geophysical survey flown over the Company's Ambodilafa property and
   funded by BHP Billiton, under an exclusivity agreement, identified a 
   significant anomaly some 80 metres below surface, 2 kilometres wide by 
   4 kilometres long with an estimated thickness of 40 metres

•  The Company is well funded for its planned exploration programmes with
   total cash of £5.3 million, having issued, post balance sheet, a £1.5 million 
   8% convertible loan note



Colin Bird, Chief Executive, said;

'We are delighted to report further exploration successes and it is clear that
we are entering into a very exciting period for Jubilee Platinum as work
progresses quickly across our project portfolio in South Africa and Madagascar.
The Company is fully funded and in a strong position now to move forward apace
in 2006.'


CHAIRMAN'S STATEMENT

I am pleased to report substantial progress in operations and excellent drilling
results from our focussed exploration activity in the six months to 31 December
2005.

Pre-tax profit for the six months ended 31 December 2005 was £878,651 compared
with a loss of £103,215 for the six-month period to 31 December 2004. The
exceptional credit of £1.04 million in the Profit and Loss account relates to
the New Africa Mining Fund (NAMF) loan of ZAR11.4 million previously advanced to
Windsor Platinum (Pty) Ltd now assigned to Jubilee Platinum Plc, following
NAMF's conversion of its Windsor shares to Jubilee shares in December 2005.

The Company is fully funded and in a strong position to advance its flagship
Tjate property to prefeasiblity and to continue aggressive exploration including
further drilling in Madagascar.

Exploration expenditure in the period was £516,056 compared with £329,378 for
the six months ended 31 December 2004.

In the course of evaluating its various prospective properties, the Company has
entered into a number of discussions and confidentiality agreements with
interested parties, relating particularly to its Madagascan properties. Over the
coming months we will be considering the possibilities of individual project
joint ventures or alternatively, independently progressing our projects whilst
relying on our own funds.

The most significant activities in the period reported were the continued
drilling on our flagship Tjate PGM project in South Africa and the commencement
of drilling on the Company's Londokomanana nickel-copper-PGM project in
Madagascar.

SOUTH AFRICA

Tjate Project

The Company drilled four boreholes on the Dsjate farm, one of three contiguous
farms comprising the 5,143 hectares Tjate property.  The drilling results are
summarised in Table 1 below:


Table 1              Tjate drilling weighted average results

  Borehole        Reef       Intersected      Apparent         4E           Ni           Cu      Pt:Pd ratio
                                 at          thickness
                                  m              cm            Gpt          %            %

     DT1        Merensky         868            116           8.91         0.30         0.15         1.7
                   UG2          1248             93           6.01          na           na          1.1
     DT2        Merensky         722             61           3.83         0.22         0.11         2.1
                   UG2          1109             95           8.01          na           na          0.91
     DT3        Merensky         900             61           6.92         0.35         0.20         1.92
                   UG2          1290             82           7.49          na           na          1.16
     DT4        Merensky         685             79           6.42         0.26         0.14         1.6
                   UG2          1077             85           7.60          na           na          0.8

4E platinum, palladium, rhodium and gold    na - not applicable

Material event   A fifth borehole DT5 on the Tjate property was completed in
January 2006, having intersected the Merensky reef at 779 metres. The borehole
results showed a weighted average grade of 18.95g/t 4E with associated 0.91%
nickel and 0.27% copper over 48 centimetres.  This borehole was drilled only to
the shallower Merensky reef. The Company has decided to focus on the Merensky
reef in the belief that at current robust PGM and base metal prices, it could
support a stand-alone operation.

MADAGASCAR

Londokomanana Project

The Company commenced diamond drilling on its Lavatrafo and Antsahabe
properties, located in the southern and northern areas respectively, of the
Londokomanana concession.

Two boreholes on Lavatrafo, LAV1 and LAV2A some 150 metres apart on strike,
intersected respectively 70-metre and 92-metre wide multi-metal
(nickel-copper-platinum-palladium) formations at shallow depths of 37 metres and
72 metres respectively. The drilling results are summarised in the tables 2 and
3 below:

Table 2              LAV1 Borehole Results

        From                  To               Intercept              Ni                  Cu                 3E
       metres               metres              Metres                 %                   %                g/t
         38                 108.4                70.4                0.23                0.11               1.05
                Including
        72.8                108.4                35.7                0.31                0.19               0.99
        89.4                108.4                19.1                0.34                0.20               1.05
        75.3                 83.5                 8.3                0.32                0.23               1.15
       102.3                108.4                 6.1                0.47                0.24               1.02

3E platinum palladium gold





Table 3 LAV2A Borehole Results


        From                  To               Intercept              Ni                  Cu                 3E
       metres               metres              Metres                 %                   %                g/t
       72.35                164.05               91.7                0.26                0.14               0.66
                Including
       82.35                162.05               79.7                0.29                0.16               0.73
       115.0                158.8                43.8                0.40                0.25               0.80
       136.1                156.2                20.1                0.52                0.33               0.92

3E platinum palladium gold

The Company drilled one borehole - ANT1 - on the Antsahabe property in order to
confirm the continuity of mineralisation in the estimated 35 kilometres (from
Lavatrafo in the south to Antsahabe in the north) of formations at
Londokomanana. The borehole intersected 48 metres total (apparent thickness) of
multi-layered high-grade nickel-copper sulphide mineralisation close to surface
(estimated at 15 metres below surface). The weighted average grade of
intersections was 0.62% nickel and 0.12% copper. The drilling results are
summarized in table 4 below:

Table 4 ANT1 Borehole Results

          From                     To                   Intercept                  Ni                      Cu
         metres                  metres                  metres                     %                      %
          17.5                    44.5                    27.3                    0.64                    0.13
       Including
       21.5                       26.5                     5.0                    1.05                    0.20
       33.6                       34.6                     1.0                    2.09                    0.14
          54.2                    71.8                    17.6                    0.60                    0.12
       Including
        60.6                      61.8                     1.7                    2.06                    0.09
          76.6                    80.9                     4.3                    0.53                    0.11


The Antsahabe property includes some 22 kilometres of geophysical and
geochemical anomalies identified previously by the Company in this area.

Lanjanina Project

The Company undertook gradient array and dipole dipole geophysical surveys over
significant copper anomalies identified in follow-up soil sampling on its
Lanjanina property.  Based on these data several drill targets were identified
and drilling is scheduled to start in March 2006.

Ambodilafa Project

The Company entered into an exclusive agreement with BHP Billiton to carry out a
helicopter-borne Versatile Time Electro Magnetic (VTEM) geophysical survey over
the Company's Ambodilafa property, south of Antananarivo. This survey was
carried out at BHP Billiton's cost and covered 195.3 line kilometres. An
independent report on the survey identified a strong anomaly 'consisting of a
flat lying circular feature' with an estimated thickness of up to 40 metres and
some 2 kilometres wide, 4 kilometres long and a minimum 80 metres below surface.
The report highlighted that 'work to date has indicated a worthy target for
drill testing'.

The Company looks forward to continued good progress with drilling programmes in
2006, particularly in delineating the Londokomanana deposit and commencement of
drilling on the Lanjanina and Ambodilafa properties.

Malcolm Burne
Chairman
23 February 2006


For further information please contact:


Colin Bird                                        Cathy Malins / Annabel Leather
Jubilee Platinum plc                              Parkgreen Communications Ltd
Tel: [phone]                                Tel: [phone]
www.jubileeplatinum.com



Jubilee Platinum Plc

Consolidated Profit and Loss Account
For the six months ended 31 December 2005



                                                                   Six months            Six months
                                                                        ended                 ended
                                                                    31 Dec 05             31 Dec 04
                                                                       £000's                £000's

Administrative expenses                                                  (274)                 (213)
                                                                         ____                  ____

Operating loss                                                           (274)                 (213)

Profit on assignment of loan                                            1,044                     -
                                                                         ____                  ____

Operating profit/(loss) before interest                                   770                  (213)

Interest receivable                                                       108                   110
                                                                         ____                  ____

Profit/(loss) on ordinary activities before taxation                      878                  (103)

Tax on profit/(loss) on ordinary activities                                 -                     -
                                                                         ____                  ____
Profit/(loss) on ordinary activities after taxation                       878                  (103)

Minority interests:
Equity                                                                      5                     7

Profit (loss) on ordinary activities attributable to                      
members of
Jubilee Platinum Plc
                                                                         ____                  ____
                                                                          883                   (96)

Profit/(loss) per ordinary share - basic                                  1.2p                 (0.2p)




Consolidated Statement of Total Recognized Gains & Losses
For the six months ended 31 December 2005

                                                                   Six months            Six months
                                                                        ended                 ended
                                                                    31 Dec 05             31 Dec 04
                                                                       £000's                £000's

Profit/(loss) for the period                                              883                   (96)

Translation differences on foreign currency
net investments                                                           264                    67
                                                                        _____                 _____
Total recognised gains and losses for the period                        1,147                   (29)                




Consolidated Balance Sheet
As at 31 December 2005

                                                                    31 Dec 05             31 Dec 04
FIXED ASSETS                                                          £ 000's               £ 000's

Tangible assets                                                            31                    27
Intangible assets                                                       1,489                   658
Investments                                                             3,198                 3,289
                                                                        _____                 _____
                                                                        4,718                 3,974

CURRENT ASSETS

Debtors                                                                   411                    58
Cash at bank and in hand                                                3,884                 2,861
                                                                        _____                 _____
                                                                        4,295                 2,919

CREDITORS: amounts falling due within one year                           (126)                  (95)
                                                                        _____                 _____
NET CURRENT ASSETS                                                      4,169                 2,824
                                                                        _____                 _____

TOTAL ASSETS LESS CURRENT LIABILITIES                                   8,887                 6,798
                                                                        _____                 _____
MINORITY INTERESTS
Equity interests                                                           17                     9
                                                                        _____                 _____
                                                                        8,904                 6,807
                                                                        _____                 _____
CAPITAL & RESERVES

Ordinary Share Capital                                                    774                   647
Share Premium                                                           8,604                 7,277
Profit and Loss Account                                                  (474)               (1,117)
                                                                        _____                 _____
                                                                        8,904                 6,807
                                                                        _____                 _____

Jubilee Platinum Plc

Interim report - Notes

1.         The interim statement for the six months ended 31 December 2005 is
unaudited and was approved by the directors on 17 February 2006.  The financial
information set out above does not constitute statutory accounts within the
meaning of section 240 of the Companies Act 1985.

2.         The accounting policies remain as stated in the Annual Report for the
period ended 30 June 2005.

3.         The exceptional item in the Profit and Loss account relates to the
New Africa Mining Fund (NAMF) loan of ZAR11.4 million previously advanced to
Windsor Platinum Investments  (Pty) Ltd (Jubilee's 100% owned South African
subsidiary), now assigned to Jubilee Platinum Plc following NAMF's conversion of
its Windsor shares to Jubilee shares in December 2005.

4.         The calculation of profit per ordinary share is based on profits of
£883,651 for the six months ended 31 December 2005 and the weighted
average number of ordinary shares outstanding during the same period of
70,696,060.

5.             The investment of £3.2 million included in Fixed Assets
represents the Group's 25% interest in Tjate Platinum Corporation (Pty) Ltd.

6.         Copies of the interim report are available to the public free of
charge from the Company at 4th Floor, 2 Cromwell Place London SW7 2JE during
normal office hours for 30 days from the date of this report.

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