Capital Reorganisation

SouthernEra Subsidiary Messina Limited Announces Restructuring Plans

 

    Shares Issued and Outstanding: 51,828,400

    TSX: SUF

    AIM: SRE

 

    TORONTO, Dec. 10 /CNW/ - SouthernEra Resources Limited announced today

that the board of directors of its 70.91 percent subsidiary Messina Limited is

considering a further restructuring of the Messina Limited balance sheet with

a view to reducing debt.

    The Messina cautionary announcement stated that following the recently

well supported rights offer (see SouthernEra news release dated November 11,

2002) the Messina shareholders have been advised to exercise caution when

dealing in their Messina shares until further details are announced. The

common shares of Messina are traded on the Johannesburg Stock Exchange, South

Africa.

    SouthernEra Resources Limited is an independent producer of platinum

group metals and diamonds. The Company also has an extensive PGM and diamond

exploration program. The common shares of SouthernEra are traded on the

Toronto Stock Exchange (SUF) and the London Stock Exchange's AIM (SRE).

 

    For further information: SouthernEra Resources Limited, Dr. Sally Eyre,

Vice President Corporate Affairs, Telephone: [phone],

Fax: [phone], e-mail: inbox(at)southernera.com

    (SUF.)