PEG Petards Group Plc

RNS No 6394A
PETALING TIN BERHAD
21st July 1998



PETALING TIN BERHAD ("PTB" or "Company")
Imminent Surrender Of Mining Leases & Cessation Of Tin Mining Business

The Board of Directors of PTB regrets to inform that the Company has ceased its
core business of tin mining and related activities following requests from the
Pejabat Daerah/Tanah Kuala Langat and the lessor of the mining land, Kumpulan
Perangsang Selangor Berhad, for PTB to surrender its mining leases.

The request for surrender of mining leases was made by the Pejabat Daerah/Tanah
Kuala Langat in order to pave way for the Malaysian Wetlands Sanctuary Project
in the state of Selangor.  The mining leases concerned are as follows:-

Location                                Area                  Expiry of lease

MC5 Lot No.3980                         268.39 hectares       19 July 2004 
Mukim of Tanjong Duabelas, Selangor

MC6 Lot No.8064                         281.66 hectares        5 October 2004
Mukim of Tanjong Duabelas, Selangor

MC10 Lot No. 8527                        80.95 hectares       14 November 2014
Mukim of Tanjong Duabelas, Selangor


The Company has no other mining leases apart from the above.

Consequent to the cessation of the tin mining activities in view of the imminent
surrender of the mining leases, the Company has lost its main source of revenue
and income.  The Company has implemented a retrenchment exercise for its mine
workers.

The Board and Management will be pursuing negotiations with the relevant parties
for compensation in return for surrender of the mining leases.  In addition, the
Company is also currently considering new sources of revenue and income and
expects to make an announcement on same in due course.


Chang Yeut Mei
Company Secretary
For and on behalf of
PETALING TIN BERHAD


END

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