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Pan African Resource (PAF)

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Monday 31 January, 2005

Pan African Resource

Holding(s) in Company

Pan African Resources PLC
31 January 2005

                    PAN AFRICAN RESOURCES PLC ('the Company')
                              Holdings in Company                                        

The Company was informed on 21 January 2005 that, as a result of a purchase of
1,550,000 million ordinary shares of 1p each in the capital of the Company
('Ordinary Shares'), Mr John Drinkwater is now beneficially interested in
15,300,000 Ordinary Shares representing 4.35 per cent of the issued share
capital of the Company.


Nathan Steinberg
Finance Director
Pan African Resources plc

Tel: 020 7845 7500

31 January 2005

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