Proposed Placing & Open Offer

Aminex PLC
02 June 2005

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN PART OR IN WHOLE IN OR INTO THE
UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA


For immediate release

2nd June, 2005



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

 Proposed Placing and Open Offer to raise up to Stg£6.6 million (€9.7 million)

Highlights

•        Intention to place 50,800,000 Ordinary Shares at Stg 8.7p per share to
raise approximately Stg£4.4 million (€6.5 million) (the "Placing");

•        Intention to launch an Open Offer to qualifying shareholders of
24,973,433 Ordinary Shares on the basis of 1 new Ordinary Share for every 4
existing Ordinary Shares at Stg 8.7p per share to raise up to Stg£2.2 million
(the "Open Offer"); and

•        Proceeds of the proposed Placing and Open Offer to fund capital
expenditure on the Group's Tanzanian and North Korean acreage and other
opportunities.

The Board of Aminex is pleased to announce that Aminex intends to conditionally
place firm 50,800,000 Ordinary Shares ("Placing Shares") with institutional and
other investors, representing approximately 51% of the existing Issued Share
Capital on 3 June 2005. The gross proceeds of the Placing will amount to
approximately Stg£4.4 million (€6.5 million) and are intended to be used to fund
capital expenditure for the Group's Tanzanian and North Korean acreage and other
opportunities.

The Placing is being arranged by Oriel and Davy. The Placing has not been
underwritten and is conditional on Oriel, Davy and the Company entering into a
placing agreement (the "Placing Agreement") which is expected to happen on 3
June 2005. In addition, the Placing will be conditional on shareholder approval,
the Placing Agreement becoming unconditional in all respects and admission of
the Placing Shares and the Open Offer Shares to the official lists of the Irish
Stock Exchange and the UK Listing Authority and to trading on the main markets
of the Irish Stock Exchange and the London Stock Exchange.

In addition, the Company today announces that, subject to entering into the
Placing Agreement, it intends to launch an Open Offer to qualifying shareholders
of 24,973,433 Ordinary Shares ("Open Offer Shares") on the basis of 1 new
Ordinary Share for every 4 existing Ordinary Shares at Stg 8.7p per share to
raise up to Stg£2.2 million on 3 June 2005.

A further announcement will be made in due course.

For Further Information:
Aminex PLC
([phone])
Brian Hall

Oriel Securities Limited
([phone])
Simon Bragg/Scott Richardson Brown

Davy Corporate Finance Limited
([phone])
Hugh McCutcheon/Fergal Meegan


Oriel Securities Limited (''Oriel'') (which is regulated in the UK by the
Financial Services Authority) and Davy Corporate Finance Limited and J & E Davy
(collectively ''Davy'') (each of which are regulated in Ireland by the Irish
Financial Services Regulatory Authority) are acting exclusively for Aminex in
connection with the requirements of the Irish Stock Exchange and the UK Listing
Authority and for no one else and will not be responsible to any other person
for providing the protection afforded to customers of Oriel and Davy nor for
providing advice in connection with this announcement.


                      This information is provided by RNS
            The company news service from the London Stock Exchange