Offer Update

RNS Number:5822N
Montrose Partners LLP
08 December 2006


  THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO
                                CANADA OR JAPAN
                               PRESS ANNOUNCEMENT
FOR IMMEDIATE RELEASE                                           8 December 2006
                                   CASH OFFER
                                       BY
                             MONTROSE PARTNERS LLP
                                  ON BEHALF OF
                              SPI PARTNERS LIMITED
                                      FOR
                    PLATINUM MINING CORPORATION OF INDIA PLC
                                  OFFER CLOSED

On 28 September 2006, Montrose Partners LLP ("Montrose Partners") announced a
cash offer on behalf of SPI Partners Limited ("SPI") to acquire the entire
issued share capital of Platinum Mining Corporation of India PLC ("PMCI") not
already owned by SPI on behalf of SPI (the "Offer"). The offer document setting
out the full terms of the Offer (the "Offer Document") was posted to PMCI
Shareholders on 13 October 2006.

On 23 November 2006 the Offer was declared unconditional in all respects.

1.00 pm on Friday 8 December 2006 was the final closing date for acceptances of
the Offer.

SPI announces that, as at 1.00 pm on 8 December 2006, valid acceptances of the
Offer had been received in respect of a total of 141,962,019 PMCI Shares,
representing approximately 80.82 per cent. of PMCI's existing issued share
capital. This total includes acceptances received in respect of 51,984,000 PMCI
Shares (representing approximately 29.6 per cent. of PMCI's issued share
capital) which were subject to irrevocable undertakings to accept the Offer from
Mr Steven Newbery and Ms Lisa Pickering.

As disclosed in the Offer Document and the announcements on 3 November, 20 and
23 November 2006, SPI owns 28,855,008 PMCI Shares representing approximately
16.42 per cent. of PMCI's existing issued share capital. None of the PMCI Shares
owned by SPI are included in the total number of valid acceptances received as
at 1.00pm on 8 December 20066.

Accordingly, as at 1.00pm on 8 December 2006 SPI owns or has received valid
acceptances in respect of 170,817,027 PMCI Shares representing approximately
97.25 per cent. of PMCI's existing issued share capital.

The Offer has not been extended beyond 8 December 2006 and accordingly is now
closed.

The consideration payable to PMCI Shareholders who have accepted the Offer will
be posted (in respect of PMCI Shares held in certificated form) or settled
through CREST (in respect of PMCI Shares held in CREST) in accordance with the
Code.

Enquiries:
Montrose Partners LLP                                     Tel: [phone]
(Financial Adviser to SPI Partners Limited)
Matthew Clarke

Further information

Terms used in this announcement shall have the meaning given to them in the
Offer Document, save where the context otherwise requires.

Montrose Partners LLP, which is authorised and regulated in the United Kingdom
by the Financial Services Authority, is acting exclusively for SPI and for
no-one else in connection with the Offer and will not be responsible to anyone
other than SPI for providing the protections afforded to clients of Montrose
Partners or for providing advice in relation to the Offer or any other matter
referred to herein.

This announcement does not constitute, or form part of, any offer for, or any
solicitation of any offer for, securities. Any acceptance or other response to
the Offer should be made only on the basis of information referred to in the
Offer Document and, in relation to PMCI Shares in certificated form, the Form of
Acceptance.




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