Directors' Dealings

Pan Andean Resources PLC
17 December 1999

Pan Andean Resources announces that the directors of the company were granted
the following options on 17 November 1999 for nil consideration:


Directors        No. of shares  Exercise  Date from which        Expiry
                 under option    price     exerciseable           date
                                                         
Dr John Teeling     500,000       22p     17 November 1999   17 November 2006
David Horgan      1,000,000       22p     17 November 1999   17 November 2006 
David Bramhill      100,000       22p     17 November 1999   17 November 2006