Change of Nomad

Regulatory Announcement                                                        
                                                                               
Company                           Pan African Resources plc                    
                                                                               
TIDM                              PAF                                          
                                                                               
Headline                          Change of Nominated Adviser and Broker       
                                                                               
Released                          2 July 2008                                  

                           Pan African Resources PLC                           

                       (`Pan African' or the `Company')                        

(Incorporated and registered in England and Wales under Companies Act 1985 with
                registered number 3937466 on 25 February 2000)                 

                            Share code on AIM: PAF                             

                            Share code on JSE: PAN                             

                              ISIN: GB0004300496                               

                    Change of Nominated Adviser and Broker                     

Pan African Resources PLC (AIM:PAF; JSE:PAN) is pleased to announce that it has
appointed, with immediate effect, RBC Capital Markets as its Nominated Adviser
and Broker under the AIM Rules.

                                     ENDS                                      

For further information on Pan African Resources plc, please visit the website
at www.panafricanresources.com

Enquiries:

Pan African         RBC Capital Markets Macquarie First     St James's         
Resources                               South Corporate     Corporate Services 
                    Andrew Smith        Finance (Pty)       Limited            
Jan Nelson, CEO                         Limited                                
                    [phone]                         Phil Dexter        
[phone] 7882                Amanda Markman                         
                                                            [phone]    
Keith Spencer,      Martin Eales        [phone] 3916               
Chairman                                                                       
                    [phone]     Thato Morojele      FDBeachhead Media &
[phone] 7881                                    Investor Relations 
                                        [phone]                    
Nicole Spruijt                                              Jennifer Cohen     
                                        Annerie Britz                          
Public Relations                                            [phone]
                                        [phone]                    
[phone]                                         Louise Brugman     
                                                                               
                                                            [phone]