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Peter Hambro Mining (POG)

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Friday 24 September, 2004

Peter Hambro Mining

Holding(s) in Company

Peter Hambro Mining PLC
24 September 2004

24 September 2004

                            Peter Hambro Mining Plc

                              Holdings in Company

The Company was notified on 24 September 2004 by Viscaria Investments Limited
that it now holds 7,883,250 Ordinary Shares in the Company, which represents
10.65 per cent. of the total issued share capital of the Company. Viscaria
Investments Limited is a company that is associated with a Director of the
Company - Pavel Maslovsky. As a result of the change in its holdings, Pavel
Maslovsky and persons associated with him, now hold in total 19,844,524 Ordinary
Shares in the Company, which represents 26.82 per cent. of the total issued
share capital of the Company.

The Company was also notified on 24 September 2004 by Petropavlosk Ltd.,
(formerly Mining Investors Ltd.) that it now holds 2,497,700 Ordinary Shares in
the Company.  This holding represents 3.38 per cent. of the total issued share
capital of the Company. Petropavlosk Ltd. is a company that is associated with
a Director of the Company - Peter Hambro. As a result of the change in its
holdings, Peter Hambro and persons associated with him, now hold in total
6,539,800 Ordinary Shares in the Company, which represents 8.84 per cent. of 
the total issued share capital of the Company.

                          Number           Number                Percentage
                          of shares sold   of shares retained    of issued
                                                                 share capital
                                                                 held post-sale

Pavel Maslovsky (PM)      3,000,000        19,844,524            26.82%
interests in the Company

Peter Hambro (PH)         1,000,000        6,539,800             8.84%
interests in the Company

Total PM and PH:          4,000,000        26,384,324            35.66%


Price of sale: £ 4.35 per share.

Commenting on the sales, Peter Hambro, Executive Chairman of Peter Hambro Mining
said:

"Pavel Maslovsky, my Russian business partner, and I have now been involved
together for ten years in the creation of Peter Hambro Mining and have decided
that it is time that we and the other members of the management team diversified
our assets in a small way.  Both Pavel and I have other private investment
objectives and would like to take this opportunity to realise them.

As you can see from the large holdings that we both retain in Peter Hambro
Mining we are fully committed to its future success and strongly believe in the
excellent potential embodied in its assets and management team."

                                    - Ends -




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