PMCI Platinum Min

RNS Number:3300M
Montrose Partners LLP
20 November 2006


  THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO
                                CANADA OR JAPAN

                               PRESS ANNOUNCEMENT
FOR IMMEDIATE RELEASE                                           20 November 2006
                                   CASH OFFER
                                   
                                      BY

                             MONTROSE PARTNERS LLP

                                  ON BEHALF OF

                              SPI PARTNERS LIMITED

                                      FOR

                    PLATINUM MINING CORPORATION OF INDIA PLC

          EXTENSION OF OFFER AND ANNOUNCEMENT OF LEVEL OF ACCEPTANCES

SPI Partners Limited ("SPI") announces today that as at 1.00 pm on 17 November
2006, being the second closing date of the cash offer for the entire issued
share capital of Platinum Mining Corporation of India PLC ("PMCI") not already
owned by SPI announced on 28 September 2006 and made by Montrose Partners LLP
("Montrose Partners") on behalf of SPI (the "Offer"), valid acceptances of the
Offer had been received in respect of a total of 20,825,216 PMCI Shares
representing approximately 11.85 per cent. of PMCI's existing issued share
capital.

Prior to the announcement of the Offer SPI had received irrevocable undertakings
to accept the Offer from Mr Steven Newbery and Ms Lisa Pickering in respect of,
in aggregate, 51,984,000 PMCI Shares representing approximately 29.6 per cent.
of PMCI's existing issued share capital. The acceptances to be received pursuant
to these irrevocable undertakings are not included in the total number of valid
acceptances received as at 1.00pm on 17 November 2006.
SPI owns 28,955,008 PMCI Shares representing approximately 16.49 per cent. of
PMCI's existing issued share capital. None of the PMCI Shares owned by SPI are
included in the total number of valid acceptances received as at 1.00pm on 17
November 2006.

As at 1.00pm on 17 November 2006 the total number of PMCI Shares which (i) SPI
owns (as detailed above), (ii) in respect of which SPI has received irrevocable
undertakings to accept the Offer (as detailed above) and (iii) which have been
the subject of valid acceptances (as detailed above) amounts to 101,764,224 PMCI
Shares representing approximately 57.94 per cent. of PMCI's existing issued
share capital.

The Offer is being extended and will remain open for acceptance until 1.00pm
(London time) on 24 November 2006. The Offer remains subject to the terms and
conditions set out in the offer document dated 13 October 2006 setting out terms
and conditions of the Offer (the "Offer Document") and in particular a
satisfactory resolution of the evident termination of the Operating Agreement.
PMCI Shareholders who have not yet accepted the Offer and who hold PMCI Shares
in certificated form are urged to complete, sign and return the Form of
Acceptance as soon as possible and in any event by no later than 1.00pm (London
time) on 24 November 2006. If you hold your PMCI Shares in uncertificated form
(that is in CREST) you are urged to accept the Offer by TTE Instructions as soon
as possible and in any event so as to be settled not later than 1.00pm (London
time) on 24 November 2006.

PMCI Shareholders who have any enquiries about the Offer or who are experiencing
problems lodging their acceptance of the Offer should contact Montrose Partners
as detailed below as soon as possible.

Enquiries:
Montrose Partners LLP                                     Tel: +44 020 7484 0902
(Financial Adviser to SPI Partners Limited)
Matthew Clarke

Further information

Save as disclosed above, no PMCI Shares have been acquired or agreed to be
acquired by or on behalf of SPI or any person acting in concert with SPI during
the Offer Period and neither SPI nor any person acting in concert with SPI has
the benefit of any irrevocable commitment or letter of intent in respect of any
PMCI Shares or has any interest in any PMCI Shares, or any short position
(whether conditional or absolute and whether in the money or otherwise and
including any short position under a derivative), any agreement to sell, any
delivery obligation, any right to require another person to purchase or take
delivery in respect of any PMCI Shares, any right to subscribe for any PMCI
Shares or any stock borrowing or lending arrangement in respect of any PMCI
Shares.

SPI, Mr Steven Newbery and Ms Lisa Pickering are acting in concert for the
purposes of the City Code on Takeovers and Mergers.

The Offer remains subject to the terms and conditions set out in the Offer
Document.

Terms used in this announcement shall have the meaning given to them in the
Offer Document, save where the context otherwise requires.

Montrose Partners LLP, which is authorised and regulated in the United Kingdom
by the Financial Services Authority, is acting exclusively for SPI and for
no-one else in connection with the Offer and will not be responsible to anyone
other than SPI for providing the protections afforded to clients of Montrose
Partners or for providing advice in relation to the Offer or any other matter
referred to herein.

This announcement does not constitute, or form part of, any offer for, or any
solicitation of any offer for, securities. Any acceptance or other response to
the Offer should be made only on the basis of information referred to in the
Offer Document and, in relation to PMCI Shares in certificated form, the Form of
Acceptance.

The Offer is not being, and will not be, made, directly or indirectly, in or
into, or by the use of the mails of, or by any means or instrumentality
(including, without limitation, electronic mail, facsimile transmission, telex,
telephone, internet or other forms of electronic communication) of interstate or
foreign commerce of, or any facility of a national securities exchange of,
Canada or Japan or any jurisdiction where to do so may violate the laws in that
jurisdiction. Accordingly, copies of the Offer Document and the Form of
Acceptance are not being, and must not be, directly or indirectly, mailed,
transmitted or otherwise forwarded, distributed or sent in, into or from, Canada
or Japan or any such jurisdiction and the Offer will not be capable of
acceptance by any such use, means, instrumentality or facility. Any person
(including, without limitation, any nominee, trustee or custodian) who could, or
otherwise intends to, or who may have a contractual or legal obligation to,
forward the Offer Document and/or the accompanying Form of Acceptance and/or any
other documents related to the Offer outside the United Kingdom, should read the
details in this regard which are contained in the Offer Document before taking
any action.

Under the provisions of Rule 8.3 of the City Code, if any person is, or becomes,
"interested" (directly or indirectly) in one per cent. or more of any class of
"relevant securities" of PMCI, all "dealings" in any "relevant securities" of
PMCI (including by means of an option in respect of, or a derivative referenced
to, any such "relevant securities") must be publicly disclosed by not later than
3.30pm on the London business day following the date of the relevant
transaction. This requirement will continue until the date on which the Offer
becomes, or is declared unconditional as to acceptances, lapses or is otherwise
withdrawn or on which the Offer Period otherwise ends. If two or more persons
act together pursuant to an agreement or understanding, whether formal or
informal, to acquire an "interest" in "relevant securities" of PMCI, they will
be deemed to be a single person for the purpose of Rule 8.3.

A disclosure table, giving details of companies in whose "relevant securities"
"dealings" should be disclosed, and the number of such securities in issue, can
be found on the Panel's website at www.thetakeoverpanel.org.uk.



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            The company news service from the London Stock Exchange

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