Interim Results

Anglo Pacific Group PLC
13 September 2001

                                                                              
                           ANGLO PACIFIC GROUP PLC                            
                                                                              
                                  HIGHLIGHTS                                  
                                                                              
                                                                              
                           Interim results for the                            
                        Six months ended June 30 2001                         
                                                                             
 
 
 
* Operating profit up 69% to £1.7 million 
 
* Earnings per share 1.30p (2000 loss per share 2.80p) 
 
* Coal royalty income increased by 111% to £1.95 million 
 
* Increased cash deposits 
 
Anglo Pacific's Executive Chairman, Peter Boycott, said:- 
 
  
'I am pleased to report that the Australian coal mines have produced record
royalty receipts for the half year. Group cash resources have increased
substantially. Your Board continues to look for ways of increasing
shareholder value.' 
  

Enquiries:-

Jonathan Rooper        Cardew & Co.                     020 7930 0777
Gavin Barry            Cardew & Co.                     020 7930 0777
 

CHAIRMAN'S STATEMENT

I am pleased to report record royalties from our Australian coal mining
interests. This has had a major impact on our six month profit figures and
the Group's liquidity. Anglo Pacific has no bank borrowings and currently has
cash on deposit of over £1.4 million. 

RESULTS

The operating profit for the six months ended 30th June 2001 increased to
£1,699,000 (2000 £1,008,000). After interest payable, tax and write down of
mineral assets, the retained profit for the period after tax was £1,128,000
(2000 £2,438,000 loss). Turnover for the six months, excluding discontinued
operations, was £2.1 million compared to £1.0 million. 
 
The Group sold the final tranche of Brancote Holdings PLC shares realising a
further profit of £92,000. 
 
As announced on 29th June 2001 after the Company's Annual General Meeting,
the Special Resolutions which were not passed will be re-presented at the
next appropriate General Meeting. Your Board is not therefore recommending an
interim dividend. 
 
OPERATIONS 
 
Coal royalties from the two mines in Queensland, Australia, operated by BHP
and Rio Tinto, increased to £1.95 million (2000 £0.93 million). The changes
proposed by the Queensland Government to the method of calculating the coal
royalties effective from 1st October 2001 will, if implemented, have a
positive effect on the level of royalties received by the Group.  
 
Without taking this potential change into account, the independent valuation
of the coal royalty in June 2001, based on a net present value of the pre-tax
cashflow discounted at a rate of 7%, was £30.3 million (A$81.7 million)
compared to £26.8 million (A$71.8 million) at 31st December 2000. At present
the net royalty income is taxed in Australia at a rate of 30%. 
 
Your Board continues to look for joint venture partners or buyers for the
Group's marble and talc interests. 
 
Anglo Digital has raised £200,000 by the issue of additional shares to Mr Jon
Moulton (25%) and existing management (25%), reducing the Group's interest to
50.1%. This subsidiary continues to receive a flow of interesting investment
propositions. Development costs to date have been written off as
administrative expenses in these accounts. 

OUTLOOK

The increasing cashflows from the Group's coal royalties enable your Board to
look forward to the future with confidence. The Directors continue to look
for ways of increasing shareholder value. 

                                                                             
Anglo Pacific Group PLC                                                       
CONSOLIDATED PROFIT AND LOSS ACCOUNT                                          
FOR THE SIX MONTHS ENDED 30th JUNE 2001
                                                                              
                                                                           
                                      6 months to    6 months to      Year to 
                                        June 2001      June 2000    Dec. 2000 
                                            £'000          £'000        £'000 
  Turnover                                            
  Continuing Operations                      2051           1000         3215 
  Discontinued Operations                       0           1352         1909 
                                            2,051          2,352        5,124 
  Cost of Sales                                            
  Continuing Operations                      (126)           (83)        (236) 
  Discontinued Operations                       0         (1,349)      (1,875) 
                                             (126)        (1,432)      (2,111) 
  Gross profit                              1,925            920        3,013 

  Continuing Operations                                            
  Administrative expenses                    (340)          (346)        (746) 
  Profit on disposal of                         
  investments                                  92            484          724 
  Other operating income                       22             51          123 
  Operating Profit from
  Continuing Operations                     1,699          1,106        3,080 

  Discontinued Operations                                            
  Administrative expenses                       0          (101)        (139) 
  Operating Loss from 
  Discontinued Operations                       0           (98)        (105) 
  Total Operating Profit                    1,699          1,008        2,975 
  Loss on disposal of Subsidiaries              0              0      (3,113) 
  Interest payable                            (6)          (220)        (322) 
  Write down of mineral assets                  0        (3,014)        (388) 

  Profit / (Loss) on ordinary         
  activities before tax                     1,693        (2,226)        (848) 

  Taxation on ordinary activities           (576)          (212)        (927) 

  Profit / (Loss) for the financial period  1,117        (2,438)      (1,775) 
  Minority interests                           11             0            0 
  Dividends                                     0             0            0 

  Retained profit / (loss) for
  the financial period                      1,128        (2,438)      (1,775) 

  Earnings / (Loss) per ordinary share      1.30p        (2.80)p      (2.04)p 
  Fully diluted earnings / (Loss)          
  per ordinary share                        1.25p        (2.80)p      (2.04)p 


STATEMENT OF CONSOLIDATED RETAINED PROFITS

                                           £'000          £'000        £'000 
  At 1 January - Deficit b/fwd            (8,629)        (6,854)      (6,854) 
  Profit / (Loss) for the period           1,128         (2,438)      (1,775) 
  At 30 June - Deficit c/fwd              (7,501)        (9,292)      (8,629) 
 

                                                                              
Anglo Pacific Group PLC
CONSOLIDATED BALANCE SHEET
AS AT 30th JUNE 2001
                                                        
                              30th June 2001             31st December 2000   
                          £'000        £'000            £'000         £'000  
  Fixed Assets                                                       
  Tangible assets                      1,115                          1,141 
  Investments                         26,990                         26,840 
                                      28,105                         27,981 

  Current Assets                                                       
  Investments                 0                            14           
  Stocks                     40                            60           
  Debtors                 1,339                         1,672           
  Cash at bank and 
  in hand                   733                           196           
                          2,112                         1,942           
  Current Liabilities                                                       
  Creditors - amounts
  falling due within 
  one year                (507)                       (1,469)           
  Net current assets                   1,605                            473 
  Total assets less                   
  current liabilities                 29,710                         28,454 
  Creditors - amounts                                                      
  falling due after                                                      
  more than one year                                                       
  Borrowings               (50)                             0           
  Deferred Tax            (347)                         (455)           
                                       (397)                          (455) 
                                      29,313                         27,999 
  Capital and reserves                                                       
  Share capital                        8,696                          8,696 
  Share premium                        2,581                          2,581 
  Capital redemption reserve             122                            122 
  Revaluation reserve                 25,118                         25,118 
  Foreign currency 
  translation reserve                    109                            111 
  Profit and loss account                   
  - (deficit)                        (7,501)                        (8,629)  
  Equity shareholders' funds          29,125                         27,999 
  Minority Interests                     188                              0 
                                      29,313                         27,999 
                  
Anglo Pacific Group PLC                                                
CONSOLIDATED CASH FLOW STATEMENT                                            
FOR THE SIX MONTHS ENDED 30th JUNE 2001                                       
                                                                   Year ended 
                                       Six months    Six months          31st 
                                       ended 30th    ended 30th      December 
                                           Jun-01        Jun-00          2000 
                                            £'000         £'000         £'000 
  Net cash inflow from operating activities 1,847           235         1,022 
  Interest paid                               (6)         (232)         (344) 
  Tax paid                                  (661)         (136)         (416) 
  Capital expenditure and 
  financial investment                       (42)           329           689 
  Disposals of subsidiaries                     0             0         3,955 
  Equity dividends paid                         0             0          (43) 
  Net cash inflow/(outflow)
  before financing                          1,138           196         4,863 
  Net cash (outflow)/inflow
  from financing                            (601)         (442)       (3,902) 
  Increase/(decrease) in cash                 537         (246)           961 


RECONCILIATION OF OPERATING PROFIT TO OPERATING CASH FLOW
                                             
                                                                   Year ended 
                                       Six months    Six months          31st 
                                       ended 30th    ended 30th      December 
                                           Jun-01        Jun-00          2000 
                                            £'000         £'000         £'000 
  Operating profit                          1,699         1,008         2,975 
  Minority interest                          (11)             0             0 
  Depreciation                                 28           217           343 
  (Gain) on sale of tangible fixed assets    (92)         (484)         (660) 
  Net decrease/(increase) in          
  working capital                             223         (506)       (1,636) 
                                            1,847           235         1,022 
 
                                                                                
                                              
Notes                                         
              
  1. Fixed asset investments
     The principal components of the fixed asset investments are the Kestrel
     (formerly Gordonstone) and Crinum royalties.  All fixed asset investments
     are stated either at cost to the Group or at independent valuation.
     The company commissioned a valuation of the coal royalties in June 2001,
     based on a net present value of the pre-tax cashflow discounted at a rate
     of 7%, which produced a valuation of £30.3 million (A$81.7 million), a
     surplus of £3.5 million over the book amount.  At present the net royalty
     income is taxed in Australia at a rate of 30%.  Were the coal royalties
     to be realised at the revalued amount there are £11.3 million (A$30.4
     million) of capital losses potentially available to offset against
     taxable gains.  Neither the revalued amounts nor the related potential
     tax liabilities are incorporated in the accounts.

  2. Basis of preparation
     These unaudited accounts, which do not constitute statutory accounts have
     been prepared using accounting policies set out in the Group's 2000
     statutory accounts.  The financial statements have been subject to a
     review by the Group's auditors The 2000 accounts received an unqualified
     auditor's report and have been delivered to the  Registrar of Companies. 
                                                    

  3. Earnings per ordinary share
     The earnings per ordinary share is calculated on the Group's profit after
     tax of £1,128,000 and 86,962,955 shares.  Fully diluted earnings per
     share is calculated on a profit after tax of £1,158,000 and 92,430,624
     shares.

  4. This statement will be sent to shareholders and will be available at the
     Company's registered office at 29 Albemarle Street, London W1S 4JB.