Signing of Agreement

Aminex PLC
04 August 2005



AMINEX PLC

("the Company")


Signing of Production Sharing Agreement in North Korea


Aminex PLC today announces that The Company and its wholly-owned subsidiary
Korex Ltd. (together "Aminex") have signed a formal Production Sharing Agreement
("PSA") with the authorities in the Democratic Peoples Republic of Korea ("DPRK
") covering the West Sea offshore basin, a part of the East Sea offshore basin,
the onshore Anju basin, the onshore Jaeryong basin and the onshore Pyongyang
basin. The total area of the PSA is approximately 66,000 square kilometres and
includes the greater part of the country's onshore and offshore territory
considered prospective for oil and gas.



The term of the PSA is nine years divided into three periods of three years
each. The structure which has been negotiated is intended to provide a fair
return to both the host government and to the contractor, generally in line with
a well-established international format.  The work obligation in the first
period consists of new seismic acquisition and one new exploration well.



Aminex announced an exclusive twenty-year Petroleum Agreement with the DPRK in
September 2004 under which it undertook to carry out certain work and provide
technical assistance aimed at advancing petroleum exploration in the country.
This is now well-advanced and Aminex, together with Korean specialists, has made
rapid progress during 2004/5 in extensively analysing existing technical data.



In exchange for carrying out this work, Aminex received (1) rights to a royalty
on hydrocarbons to be produced from any new drilling in the country by third
parties (2) entitlement to a carried interest in any new wells drilled by other
incoming companies and (3) prior rights to apply for specific licences and
explore in its own name anywhere in the contract area.



By signing the PSA Aminex has now exercised these prior rights over most of the
contract area and will now commence a full exploration programme, including
conducting new seismic surveys and exploration drilling.



The Aminex PSA, which is made under Swiss law, is far more comprehensive than
any other exploration agreement previously signed in DPRK and is an important
step for Aminex and for the exciting oil and gas potential of the country.
Intermittent exploration has taken place over a thirty-year period and oil has
already been discovered in the West Sea but never exploited due to lack of
resources.  The West Sea basin is adjacent to and thought to be an analogue of
Bohai Bay, China's largest indigenous source of oil and gas and the scene of
recent major discoveries.



The strategic area covered by the PSA is very large and offers the potential for
high-impact petroleum exploration.  With the PSA in place Aminex will commence
new seismic surveys shortly.



Brian Hall, Chief Executive of Aminex, commented



"The agreement is the culmination of our work since we signed a Petroleum
Agreement last year for cooperation with the DPRK.  This extensive PSA of 66,000
square kilometres includes several distinct basins and presents a rare
opportunity for an independent company to gain exclusive access to a potentially
important new petroleum province.  The proceeds of a recent successful share
placing and open offer to existing shareholders will be partly used in the
initial work envisaged by the PSA".



                                                                 4th August 2005

Enquiries:

Aminex plc
    Brian Hall                              020 7240 1600

College Hill
    Jim Joseph/Ben Brewerton                020 7457 2020








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