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Southernera Resources Ltd (SRE)

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Wednesday 12 March, 2003

Southernera Resources Ltd

Capital Reorganisation

    SouthernEra Announces Support for Messina Debt Restructuring


    Shares Issued and Outstanding: 61,593,793

    TSX: SUF

    AIM: SRE


    TORONTO, March 12 /CNW/ - The Board of SouthernEra Resources Limited is

pleased to announce that it has resolved to support its 70.9 percent-owned

subsidiary Messina Limited in its endeavours to restructure its balance sheet

with a view to the reduction of Messina's debt.

    SouthernEra will support and underwrite a Messina rights offer. This

support is subject to agreement with Messina on the terms of a rights offer as

well as the associated regulatory process in South Africa.

    SouthernEra Resources is an independent producer of platinum group metals

(PGM's) and diamonds. The company also has an extensive PGM and diamond

exploration program. The common shares are listed on the Toronto Stock

Exchange and the London Stock Exchange AIM.



    For further information: Please contact - SouthernEra Resources Limited,

Patrick C. Evans, President and CEO; or Dr. Sally Eyre, Vice President,

Corporate Affairs, Telephone: (416) 359-9282, Fax: (416) 359-9141,

E-mail: inbox(at)








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