Update on Marange Claims

African Consolidated Resources Plc ('ACR' or the 'Company')

                            Update on Marange Claims

The  Company notes recent press coverage of orders of the Zimbabwe Supreme Court
handed  down  on  25 January  2010 (the  'Supreme  Court Orders') in relation to
matters  connected  to  the  claims  previously  registered  in the names of its
subsidiaries on the Marange diamond field (the 'Marange Claims').

The  Supreme Court Orders related to  an interlocutory appeal in connection with
the  High Court  Judgement handed  down on  25 September 2009 (the '25 September
Judgement')  which as  already announced  confirmed the  Company's title  to the
Marange  Claims.   Also  as  previously  announced the 25 September Judgement is
subject  to  an  appeal  to  the  Supreme  Court (the 'Substantive Appeal'). The
Company understands that this appeal is not likely to be heard for some time.

The  Supreme  Court  Orders  stipulated  that  both the diamonds seized from the
Company  in January  2007 and all  diamonds acquired  from the Marange Claims be
surrendered  to the  Reserve Bank  of Zimbabwe  pending the determination of the
Substantive Appeal.

There  are many legal and judicial processes currently ongoing.  These include a
recent  attempt to introduce new evidence questioning the Company's title, which
was  not produced at the hearing before  the 25 September Judgement and which is
strongly disputed by the Company.

While  the Company welcomes the Supreme Court  Orders, none of the Supreme Court
Orders  or  other  legal  and  judicial  processes - other than the 25 September
Judgement - address the substantive issue in relation to the Marange Claims.  To
restate the position, the substantive issue is the upholding of ACR's rights and
mining  title at  Marange.  This  was achieved  comprehensively through  the 25
September  Judgement  and,  although  subject  to  the Substantive Appeal to the
Supreme   Court,  this  judgement  remains  in  force.   Furthermore,  immediate
execution  of  the  orders  pursuant  to  the  25 September  Judgement are still
demanded.

The  Company notes that the state  owned Zimbabwe Mining Development Corporation
('ZMDC')  has failed to  vacate the Marange  Claims in contravention  of the 25
September  Judgement and under a joint venture arrangement with a third party is
continuing  its efforts to exploit the  diamond resources present at the Marange
Claims.   The Company has  been legally advised  that one of  the effects of the
Supreme Court Orders is that any diamonds being currently mined by third parties
in  joint venture with ZMDC must be handed  over to the Reserve Bank of Zimbabwe
for safe keeping.

The  Company will continue to take all steps it can to protect its rights and to
regain possession of the Marange Claims.

The  Company remains firmly resolved to work  with all elements of Government to
achieve  an outcome that shows  respect for the law,  respect for the courts and
security  for the substantial commitments  made by international investors.  The
Company  continues to endeavour to  engage all offices of  Government to reach a
joint venture arrangement that will best serve the interests of Zimbabwe and its
diamond sector.

Enquiries:


  African Consolidated Resources plc
  Andrew Cranswick                      [phone]
  Roy Tucker                            [phone] / [phone]


  Ambrian Partners Limited
  Richard Greenfield                    [phone]
                                                                           

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