Disposal

Aminex PLC
19 March 2004



                                   AMINEX PLC
                          ("Aminex" or "the Company")

                   DISPOSAL OF INVESTMENT IN TATARSTAN ASSET


Aminex PLC ("Aminex"), the oil and gas company listed on the London and Irish
Stock Exchanges, announces that it has today completed an agreement to sell its
shareholding in OAO Ideloil ("Ideloil"), an oil company operating in the Russian
internal republic of Tatarstan, to Dolkono Holdings Limited and Nereids Holdings
Limited.


Total consideration payable to Aminex is US$2.2 million, all of which is to be
satisfied by cash payments.  US$1.2 million relates to the repayment by OAO
Ideloil of outstanding loans and accrued interest due to Aminex and the balance
of US$1.0 million (payable by Dolkano Holdings Limited and Nereids Holdings
Limited in equal amounts of US$500,000) relates to the equity interest itself.
The net sale proceeds, after expenses, of over US$2.0 million will be applied to
the enhancement of existing assets, possible new ventures under consideration
and general working capital purposes.


Ideloil is treated as an associate in the consolidated accounts of Aminex and
the net equity investment in OAO Ideloil at December 31, 2002, as stated in the
books of Aminex PLC, amounted to US$757,000.  During 2002, gross production of
OAO Ideloil was approximately 676,000 barrels of oil and the volume of reserves
attributable to Aminex's interest at December 31, 2002 amounted to approximately
10.2 million barrels of oil.  Historically Aminex has only received minimal
dividends from its accumulated share of Ideloil's profits of US$2 million.  As
previously advised to shareholders, Aminex has been engaged in litigation with
OAO Ideloil since March 2002, contesting the validity of a series of share
issues that have potentially diluted Aminex's interest from approximately 29% at
December 31, 2001 to approximately 10% now.  A condition of the sale and the
loan repayment is that Aminex will cease all such litigation against OAO
Ideloil.


The Aminex Group acts as operator on many of its significant leases in the USA
and on its licences in Tanzania, in particular the Nyuni exploration programme
where drilling is currently in progress.  Following the sale of Aminex's larger,
operated  Russian oil and gas interests in 2001, Ideloil has become a non-core
part of Aminex's business.  In order to concentrate on its core operated
activities, Aminex has decided to take advantage of current market conditions
and dispose of what was likely in due course to become only a trade investment
in Ideloil.  This is the last of the company's assets in Russia, exit from which
will result in significant cost savings and free up resources for other,
potentially more productive activities.


19 March 2004


ENQUIRIES:


Aminex PLC                                           Tel: [phone]
Brian Hall

College Hill                                         Tel: [phone]
James Henderson
Nick Elwes




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