RNS Number:2551J
Hanover Capital Group PLC
26 March 2003


HANOVER CAPITAL GROUP PLC ("HANOVER")

SHAREHOLDERS IN THE MALI MINING COMPANIES

Hanover Capital Group PLC ("Hanover") wishes to clarify the position relating to
the beneficial shareholders who have acquired shares in Hanover in exchange for
shares in companies holding mining rights in Mali. It remains the objective of
Hanover to build up its portfolio of mining rights in that country.


Barnard Castle Limited ("BC")

Controls 70% of the Touban Mining Project in Mali.

Shares acquired by Hanover in BC to date were acquired from Sloane Holdings
Limited ("Sloane").  The amount of Hanover shares held by Sloane are 4,750,000,
representing 6.46% of the Issued Share Capital of Hanover.

The beneficial shareholders of Sloane are a "Social Structure"

Valley Forge Site Limited ("VFS")

Controls 70% of the Toubikoto and Manianguiti Mining Projects in Mali.

Shares acquired by Hanover in VFS to date were acquired from Keyvale Investments
Limited ("Key") and from Vadni (International) Limited ("Vadni").  The amount of
Hanover shares held by Key are 4,440,104, representing 6.04% of the Issued Share
Capital of Hanover and the amount of Hanover shares held by Vadni are 4,440,104,
representing 6.46% of the Issued Share Capital of Hanover.

The beneficial shareholders of both Key and Vadni are "Social Structures"

Steinbeck Limited ("Steinbeck")

Controls 70% of the Darset and Anefis Mining Projects in Mali.

Shares acquired by Hanover in Steinbeck to date were acquired from Taunton Vale
Limited ("TV"), Stonedale Investments Limited ("SI"), Gold Flower Limited ("GF")
and from Sunoak Holdings Limited ("SH").  The amount of Hanover shares held by
TV are 6,494,138, representing 8.84% of the Issued Share Capital of Hanover, the
amount of Hanover shares held by SI are 6,494,138, representing 8.84% of the
Issued Share Capital of Hanover, the amount of Hanover shares held by GF are
2.25% of the Issued Share Capital of Hanover and the amount of Hanover shares
held by SH are 3,154,295, representing 4.29% of the Issued Share Capital of
Hanover.

The beneficial shareholders of TV, SI, GF and SH are various "Social
Structures".

"Social Structures" is the term now normally used in Africa for what used to be
referred to as a tribal interests. Such social structures act through appointed
representatives.

The Government of Mali holds 30% of each of the above-mentioned mining projects
and no Government official is a part of the "Social Structures" as aforesaid,
this having been confirmed by their representatives

After various discussions with their representatives, it can be confirmed that
the shareholders of the three companies are not "in concert" with each other.

No director of Hanover or his associate is either a direct or indirect
shareholder of the above-mentioned companies.



For further information, please contact:

Ana Ribeiro/Simon Robinson, Parkgreen Communications          020 7287 5544


End

26 March 2003




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