Director Shareholding

Director Trading Notification 
    SouthernEra Resources Limited
 
    Shares Issued and Outstanding: 51,828,400
    TSX: SUF
    AIM: SRE
 
    TORONTO, Dec. 24 /CNW/ - On December 20, 2002 Dr. Christopher M.H.
Jennings and Messrs. Thomas C. Dawson and Philip S. Martin, all directors of
SouthernEra Resources Limited, subscribed, through private placements, for
28,000, 30,000 and 20,000 common shares respectively, of the Company. The
shares were issued at a price of Canadian $7.25, representing a 15 percent
premium to the close price on December 19, 2002. The issued shares are subject
to a four-month hold period. The Canadian $565,500 proceeds will be expended
on Canadian exploration programmes.
    SouthernEra Resources Limited is an independent producer of platinum
group metals and diamonds. The Company also has an extensive PGM and diamond
exploration programme. 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, Patrick C. 
Evans, President and CEO; or Dr. Sally Eyre, Vice President Corporate Affairs, 
Telephone: [phone], Fax: [phone], e-mail: 
inbox(at)southernera.com
    (SUF. SRE)
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