Changes to the Board of Directors

Monteagle S.A.
14 February 2000


CHANGES IN DIRECTORATE

The board of Monteagle announces that Mr P Latilla-Campbell and Mr C P
Latilla-Campbell have resigned as directors with effect from 24th January 2000. 
Mr P Latilla-Campbell's health dictates that he reduce his commitments and his
departure severs a link between the Company and his family which goes back over
sixty years.  His knowledge and experience, particularly of mining and of
Zimbabwe will be greatly missed.  His son Christopher has also felt it necessary
to leave the Board to spend more time on family matters.

Mr A R C Barclay was appointed as a non-executive director of the Company with
effect from 24th January 2000.  Mr Barclays is a director of Megalomedia plc,
The Sanctuary Group plc and Western Selection P.L.C. in the U.K.  He is also a
director of Conafex S.A., which is listed on the Luxembourg and Johannesburg
Stock Exchanges, and Falcon Investments S.A., which is listed on the Luxembourg,
Johannesburg and Zimbabwe Stock Exchanges.

There are no other details that require disclosure.