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Golden Prospect PLC (AMBR)

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Monday 20 September, 2004

Golden Prospect PLC

Acquisition

Golden Prospect PLC
20 September 2004

                   GOLDEN PROSPECT ACQUIRES MINING INVESTMENT
                         BANKING AND BROKERAGE BUSINESS


Golden Prospect Plc (AIM:GOL), the diversified natural resources investment
company announces the acquisition of Ambrian Partners Limited, the London based
investment banking and institutional brokerage firm focused on the mining and
metals sector.



Golden Prospect will issue 6,226,282 new 10p shares at 30p each and pay £300,250
in cash valuing the transaction at approximately £2.17 million.  The Financial
Services Authority has approved the transaction.  Application will be made for
the new shares to be admitted to trading on AIM, and such trading is expected to
commence by 30 September 2004.



Ambrian Partners was founded in 2001 and is a member of the London Stock
Exchange.  Ambrian provides strategic and financial advisory services to
companies and governments in mergers, acquisitions and divestitures as well as
institutional brokerage services.  Revenue generated by Ambrian in the 12 month
period to 30th June 2004 amounted to over £1m.



The acquisition combines these services with the investment activities of Golden
Prospect to create a specialist finance group focused on the natural resources
sector comprising three business segments: corporate finance, equity broking and
investments.



Ambrian's clients have included some of the largest mining companies in the
world as well as several promising mid tier and junior mining companies.
Ambrian's ability to provide investment banking services to both large and small
mining and metals companies differentiates it from other financial advisers in
the natural resources sector.



'Ambrian is a great strategic fit for Golden Prospect', says Chairman, Malcolm
Burne.  'Ambrian has established itself as a leading financial adviser across
the mining and metals sector and has a strong reputation for integrity among
clients and both industry and corporate finance expertise.  Its client list is a
testament to all these things', Mr. Burne added.



'The combination of Ambrian with Golden Prospect provides the enlarged group
with increasing opportunities for the services both companies offer in the
natural resources sector.  We are pleased to join with a company and team that
are so highly regarded in the City', said Tom Gaffney, Managing Director of
Ambrian Partners.



Mr. Gaffney and Ambrian's non-executive Chairman, Mr. Lawrence Banks, CBE, will
join the board of Golden Prospect.



Prior to founding Ambrian, together with Charles Hutson (who was seriously
injured in March 2003), Mr. Gaffney was a Director of JP Morgan's Metals &
Mining Team and he was a Director in the Corporate Finance Department of Robert
Fleming from 1995.  He has worked in investment banking for 20 years and has
specialised in the mining and metals sector.



Mr. Banks was Deputy Chairman of Robert Fleming Holdings Limited, the private
London-based investment bank which now forms part of JP Morgan Chase & Co.



Information on the service contract of each of the proposed directors, together
with their other directorships, will be announced when the appointment becomes
effective.



Golden Prospect's core investment positions provide both a commodity mix of base
and precious metals plus geographical spread.  Mr. Gaffney commented 'Golden
Prospect continues to represent a unique opportunity for investors to gain
exposure to the natural resources sector'.




For further information contact:

Malcolm Burne, Chairman, Golden Prospect: 0207 845 7500

Tom Gaffney, Managing Director, Ambrian: 0208 528 1446

Lachlan Johnston/ Tom Randell, Merlin PR: 0207 653 6620


Notes to City Editor:

Ambrian's completed engagements include:-

•         Ambrian was the financial adviser to Norsk Hydro, the third largest
global aluminium supplier and one of the world's largest oil and gas producers,
on the US$110 million sale of its German based alumina business comprising a 50%
interest in the Stade alumina refinery and related stake in a bauxite mine in
Guinea

•         Ambrian was the financial adviser to Credit Suisse First Boston in
connection with the sale of Valcambi SA, Switzerland's largest gold refinery,
and a partial interest in the associated gold distribution business to a
partnership formed by Newmont Mining Corporation, the world's largest gold
producer, and a group of Swiss investors.

•         Ambrian was the financial adviser of Monterrico Metals, the AIM-listed
Peruvian copper exploration companies in connection with its three fundraisings
during the past two years including the company's initial placing and admission
to trading on AIM.



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

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