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Monday 16 July, 2001

Aberforth Partners

SAR - Paladin Resources PLC

Aberforth Partners
16 July 2001

                                                                FORM SAR 3

Lodge with Company Announcements Office and Newstrack, if appropriate, and
the Takeover Panel.  A copy must also be sent to the company the shares of
which are acquired.


                                              Date of disclosure: 16/07/01

               DISCLOSURE UNDER RULE 3 OF THE RULES GOVERNING
                 SUBSTANTIAL ACQUISITIONS OF SHARES ('SARs')



Date of acquisition: 13/07/01


Acquisition in: Paladin Resources PLC




(1) Class of voting shares  Number of shares/rights  If rights over shares
    (e.g. ordinary shares)  over shares acquired     acquired, as opposed
                                                     to the shares
                                                     themselves, specify
                                                     nature of rights

    Ordinary Shares of 10p      23,500,000 shares

                                    N/A rights               N/A



(2) Resultant total holding   Resultant total holding   Total percentage
    of voting shares (and %   of rights over shares
    of total voting shares    and % of total voting
    in issue)                 shares in issue)

    48,737,798  (23.13%)            N/A  (0.00%)             23.13%



(3) Party making disclosure: Aberforth Partners (as Investment Managers)



(4) (a)  Name of person acquiring shares or rights over shares: Aberforth
         Partners (as Investment Managers) and, if different, beneficial
         owner: N/A

    (b)  Names of any other persons acting by agreement or understanding
         (see SAR 5): N/A




Signed, for and on behalf of the party named in (3) above: N/A

(Also print name of signatory): Gordon R. Young, Partner


Telephone and extension number: 0131 220 0733


Note.  Under SAR 5, the holdings of and acquisitions by persons acting by
agreement or understanding must be aggregated and treated as a holding of
or acquisition by one person.  Note 3 on SAR 5 requires persons who must
aggregate holdings to disclose certain disposals.

For full details of the SARs disclosure requirements, see Rules 3 and 5
of the SARs.  If in doubt, contact the Panel on Takeovers and Mergers,
Monitoring Section, Tel. No: 020 7638 0129.