Statement re. Press Comment

Pan Andean Resources PLC
22 April 2002


The board of Pan Andean is aware of media speculation that discussions are
taking place with companies which may lead to an offer for the shares of Pan
Andean. No such discussions are currently taking place.

The board is actively evaluating ways to enhance shareholder value. Should any
of the strategies currently being examined get to an advanced stage, they will
be communicated to shareholders.


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