Holding(s) in Company

Pan African Resources PLC
31 January 2005




                    PAN AFRICAN RESOURCES PLC ('the Company')
                                        
                                        
                              Holdings in Company                                        
                                        

The Company was informed on 21 January 2005 that, as a result of a purchase of
1,550,000 million ordinary shares of 1p each in the capital of the Company
('Ordinary Shares'), Mr John Drinkwater is now beneficially interested in
15,300,000 Ordinary Shares representing 4.35 per cent of the issued share
capital of the Company.



Enquiries:


Nathan Steinberg
Finance Director
Pan African Resources plc

Tel: [phone]


31 January 2005






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