Agreement with BHP Billiton

Jubilee Platinum PLC
01 November 2005






1 November 2005



AIM: JLP

                              Jubilee Platinum Plc

                          ('Jubilee' or 'the Company')





        Jubilee and BHP Billiton Agree to an Airborne Geophysical Survey

                 over Adjacently Held Properties in Madagascar



Highlights



•         Jubilee and BHP Billiton have agreed to carry out a large-scale
helicopter Versatile Time-Domain Electromagnetics ('VTEM') geophysical survey
over each other's adjacently held properties in Madagascar



•         The survey will be funded by BHP Billiton, and the data from both
properties shared with Jubilee on an exclusive basis



•         Based on the results the parties may agree to enter into a joint
agreement for further development of any or all of their properties



BHP Billiton's Marolambo and Jubilee's Ambodilafa concessions together form a
large property, which is part of an extensive ultrabasic system. The properties
are located some 160 kilometres southeast of the Madagascan capital
Antananarivo.



Previous regional reconnaissance drilling by others in Ambodilafa, undertaken in
1969, intersected 93 metres of disseminated sulphides, containing pyrrhotite,
pentlandite and chalcopyrite (nickel and copper ore minerals), averaging 1%
copper equivalent.  The intersection included a 1.5 metre intercept assaying
2.2% nickel and 0.35% copper.  Later stream sediment sampling in 1990 defined
several drainage catchments in the area and showed anomalous platinum and
palladium values.



The VTEM method is state-of-the-art and is acknowledged as an excellent
prospecting tool for identifying anomalies related to massive sulphides.



Colin Bird, chief executive officer of Jubilee, said: 'We are delighted that BHP
Billiton has undertaken to fund the airborne geophysical programme and
subsequent interpretation of the data. This affirms our view that Madagascar is
highly prospective for base and platinum group metals and this activity,
together with our Londokomanana project, means that Jubilee is developing a
strong strategic position in Madagascar.'





For further information please contact:

Colin Bird                                Cathy Malins / Annabel Leather

Jubilee Platinum plc                      Parkgreen Communications Ltd

Tel [phone]                  Tel [phone]




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