Placing, change of year end

White Knight Investments PLC
23 March 2004

                  White Knight Investment plc ('the Company')

Following its recent acquisition of 100% of Mistral Resource Development
Corporation Limited, the Company has extended its year-end to 30 September 2004.

White Knight Investments plc also announces that it has today placed 2,500,000
Ordinary 1p shares at 4p per share to Eloro & Exploration Co plc to augment
working capital prior to project funding.

Application is being made for the new Ordinary Shares to be admitted to trading
on AIM with admission expected to take place on 31 March 2004.


Enquiries:

Nathan Steinberg
Finance Director
White Knight Investments plc

020 7845 7500


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