Holding(s) in Company

Pan African Resources PLC
07 January 2005


                    PAN AFRICAN RESOURCES PLC ('the Company')
                                                                                
                               Holdings in Company

The Company was informed on 6 January 2005 that, as a result of a purchase of
2,500,000 million ordinary shares of 1p each in the capital of the Company
('Ordinary Shares'), Mr John Drinkwater is now beneficially interested in
13,750,000 Ordinary Shares representing 3.95 per cent of the issued share
capital of the Company.



Enquiries:

Nathan Steinberg
Finance Director
Pan African Resources plc

Tel: [phone]

7 January 2005


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