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Peter Hambro Mining (POG)

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Tuesday 20 May, 2003

Peter Hambro Mining

Annual Report and Accounts

Peter Hambro Mining PLC
20 May 2003

                            PETER HAMBRO MINING PLC

                      Releases Annual Report and Accounts

20 May 2003

PETER HAMBRO MINING PLC today released its Annual Report for the financial 
year ending 31 December 2002.

Copies of the report, together with the notice of the Annual General Meeting
and the forms of proxy, are being sent to shareholders today. The Annual 
General Meeting will be held at 12 noon on Thursday, 12th June 2003 at the 
Rubens at the Palace Hotel, 39 Buckingham Palace Road, London SW1.

Highlights from the Company's 2002 Annual Report and Accounts include:

   • PETER HAMBRO MINING PLC shares were admitted to trading on the
     Alternative Investment Market of the London Stock Exchange (AIM) 
     in April 2002
   • A new 1 million tonne per annum resin-in-pulp plant was constructed
     and first gold was poured from new plant in September 2002
   • Production of 70 thousand ounces at a cash cost of US$136 per ounce
   • Profit of 97.68% subsidiary JSC Pokrovskiy Rudnik ("JSCP") up 9% to
     US$12.1 million (2001: US$11.1 million).
   • Upgrade of total Pioneer reserves and resources to 9.4 million ounces,
    compared with 1.5 million at the time of admission to trading on AIM.

PETER HAMBRO MINING PLC is also playing a key role in the consolidation of 
the Russian gold industry as demonstrated by the proposed joint venture in 
the Magadan Region and the proposed acquisition of the Tokur Deposit in the
Amur Region.

An on-line version of the Annual Report is available on the company's website
at Copies may also be requested directly from the
company and are available at company's offices, 7 Eccleston Street, Belgravia,
London SW1W 9LX.


Alya Samokhvalova                 Peter Hambro Mining      +44 20 7393 0102
David Simonson/Nicola Davidson    Merlin Financial         +44 20 7606 1244

Notes to Editors:

PETER HAMBRO MINING PLC is a London-based mining company, whose principal asset
is JSCP. JSCP operates 2 gold deposits in the Amur Region in Russia. JSCP's
principal deposit is the Pokrovskiy mine, which produced 70,000 ounces of gold
in 2002 and has estimated reserves and resources of 3 million ounces. Its other
gold deposit, Pioneer, is currently at an advanced exploration stage, and has
estimated Russian category C2 and P1 + P2 resources of 9.4 million ounces. JSCP
also has a 51% stake in Olekminskiy Rudnik, a titanium deposit also in the Amur

                      This information is provided by RNS
            The company news service from the London Stock Exchange