Quarter 4 Cash Flow

Anglo Pacific Group PLC
29 January 2004

29th January 2004

                            ANGLO PACIFIC GROUP PLC

                REPORT FOR THE QUARTER ENDED 31st DECEMBER 2003

1.     Gordon Resources Limited - Coalmine Royalty Entitlements - Queensland

For clarification purposes it should be emphasized that the following figures
report the cash received during the three months ended 31st December 2003 which
relate to the royalties earned and accrued in the previous quarter ended 30th
September 2003.

(a)     Kestrel (Rio Tinto)

The royalty received for the quarter to 30th September 2003 was A$221,228
compared to A$354,104 for the previous quarter.

(b)     Crinum (Broken Hill Proprietary - BHP)

The royalty received for the quarter to 30th September 2003 was A$1,738235
compared to A$578,206 for the previous quarter.

The Company issued a Press Release on 8th January 2004 (see
www.anglopacificgroup.com ) commenting on the outlook for the Company's
royalties for 2004 when production is expected to be mainly from the Private
Ground rather than the Crown Land. The Company remains optimistic about the
prospects for coal prices in 2004 and the demand for coking coal
internationally.

2.     Mining Projects

The Group continues its positive involvement and exposure to coal and coal
energy, and the gold, diamond and PGM sectors in North America and Australia.



For further information see our website: - www.anglopacificgroup.com


Other queries please contact:-
Jeffrey D Gold F.C.A., Company Secretary                          020 8458 5141



ANGLO PACIFIC GROUP PLC

PROFORMA QUARTERLY STATEMENT OF CONSOLIDATED CASHFLOWS

FOR THE QUARTER ENDED 31st DECEMBER 2003


                                                                            CURRENT QUARTER        YEAR TO DATE

                                                                                         £m                  £m
CASHFLOWS RELATED TO OPERATING ACTIVITIES

Receipts from product sales and related debtors                                           -                   -

Payments for:

Exploration and evaluation                                                                -                   -

Development                                                                               -                   -

Production                                                                                -                   -

Administration                                                                        (0.1)               (0.8)

Dividends received                                                                        -                   -

Interest and other items of a similar nature received                                     -                   -

Interest and other costs of finance paid                                                  -                   -

Income taxes paid                                                                     (0.1)               (1.7)

Other - Royalties received                                                              0.8                 3.6

NET OPERATING CASHFLOWS                                                                 0.6                 1.1

CASHFLOWS RELATING TO INVESTING ACTIVITIES

Payment for equity investments                                                        (2.7)               (5.0)

Payment for purchases of other fixed assets                                               -                   -

Proceeds from sale of equity investments                                                2.4                 3.6

NET INVESTING CASHFLOWS                                                               (0.3)               (1.4)

CASHFLOWS RELATED TO FINANCING ACTIVITIES

Proceeds from issue of shares, options etc.                                              -                    -

Proceeds from borrowings                                                                 -                    -

Repayment of borrowings                                                                  -                    -

Dividends paid                                                                           -                (1.6)

NET FINANCING CASHFLOWS                                                                  -                (1.6)

NET INCREASE/(DECREASE) IN CASH HELD                                                   0.3                (1.9)

Cash at beginning of quarter/period                                                    1.6                  3.8

Exchange rate adjustments                                                                -                    -

CASH AT END OF QUARTER/PERIOD                                                          1.9                  1.9

ANGLO PACIFIC GROUP PLC

PROFORMA QUARTERLY STATEMENT OF CONSOLIDATED CASHFLOWS

FOR THE QUARTER ENDED 31ST DECEMBER 2003


                                                                           Amount Available          Amount Used

                                                                                      £'000                £'000
FINANCING FACILITIES AVAILABLE

Barclays Bank PLC - overdraft facility                                                  Nil                  Nil

Barclays Bank PLC - Loan facility                                                       Nil                  Nil



ESTIMATED CASH OUTFLOWS FOR NEXT QUARTER                                                                     £'m

Exploration and evaluation                                                                                   Nil

Development                                                                                                  Nil


                                                                            Current Quarter     Previous Quarter

                                                                                      £'000                £'000

RECONCILIATION OF CASH

Cash on hand and at bank                                                                 34                   34

Deposits on call                                                                      1,864                1,602

Bank overdraft                                                                            -                    -

Total cash at end of quarter                                                          1,898                1,636



ISSUED AND QUOTED SECURITIES AT END OF CURRENT QUARTER

                                         Number Issued           Number Quoted
Categories of Securities

Ordinary Shares                          87.46 million           87.46 million


                                                                        Number       Exercise Price         Expiry Date

Options                                                              1,500,000                  18p            10/12/04

                                                                       900,000                23.5p            13/10/06




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