PMCI Platinum Min

RNS Number:6859M
Platinum Mining Corp of India PLC
24 November 2006

                    PLATINUM MINING CORPORATION OF INDIA PLC

                      OFFER DECLARED WHOLLY UNCONDITIONAL

The Board of Platinum Mining Corporation of India ("PMCI") notes the
announcement made on 23 November 2006 by Montrose Partners LLP on behalf of SPI
Partners Ltd ("SPI") that SPI's cash offer for PMCI (the "Offer") has been
declared wholly unconditional.

The announcement further stated that:

(i) valid acceptances have been received in respect of approximately 46.83 per
cent. of PMCI's issued share capital and that SPI now owns or has received valid
acceptances in respect of approximately 63.26 per cent. of PMCI's issued share
capital;

(ii) the Offer will only remain open for acceptance until 1.00pm (London time)
on 8 December 2006; and

(iii) SPI reserves the right, if sufficient acceptances of the Offer are
received by such time, to acquire compulsorily the remaining PMCI shares to
which the Offer relates on the same terms as the Offer and/or to procure the
making of an application for the cancellation of the admission of PMCI's shares
to trading on AIM.

Whilst continuing to believe that SPI's offer of 12 pence per PMCI share is
inadequate, the Board recognises that control of PMCI has now effectively passed
to SPI.

Given that SPI only requires further acceptances in respect of less than 12 per
cent of PMCI's issued share capital in order to be able to procure the making of
an application for the cancellation of the admission of  PMCI's shares to
trading on AIM, the Board, so advised by W.H. Ireland Limited, recommends
shareholders to consider carefully the risks of not accepting the Offer,
including the fact that they could become minority shareholders in a company
controlled by SPI without any market for their shares in PMCI.

Any shareholders in PMCI who have not yet accepted the Offer and who do not wish
to take such risks are accordingly recommended to accept the Offer as soon as
possible and in any event by not later than 1.00pm (London time) on 8 December
2006, after which time the Offer will no longer be capable of acceptance.

In the circumstances, those directors of PMCI who have beneficial shareholdings
in PMCI intend to act as follows in respect of their shareholdings:


Director                     Number of shares in respect   Number of shares in respect     Total beneficial
                                   of which the director    of which the director does         shareholding
                             intends to accept the Offer      not intend to accept the
                                                                                 Offer
Philip Adeane                                        nil                       700,000              700,000
Malcolm Groat                                  1,916,750                           nil            1,916,750
Umesh Sahdev                                   3,000,000                       125,000            3,125,000

Enquiries:

Malcolm Groat
Platinum Mining Corporation of India PLC
Telephone 01202 606010

Paul Dudley/Peter Jackson
W.H. Ireland Limited
020 7220 1666

W.H. Ireland Limited, which is authorised and regulated in the United Kingdom by
the Financial Services Authority, is acting exclusively for PMCI and for no one
else in connection with SPI's offer and will not be responsible to anyone other
than PMCI for providing the protections afforded to clients of W.H. Ireland
Limited nor for giving advice in relation to SPI's offer or any matter or
arrangement referred to in this announcement.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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