leptis Magna

10 December 2004


Leptis Magna plc floats on AIM

Friday 10 December - Leptis Magna plc today announces its first day of dealings
on AIM.

Leptis Magna plc is an investment company focusing on African natural resources
and infrastructure projects. When it identifies suitable investment
opportunities, the Company intends to acquire them using a variety of means,
including cash and the issue of additional equity. The Board intends to
establish and develop a portfolio of projects, which the Company intends to take
forward in conjunction with the projects' existing executive management teams.

Michael Hammond, a founding partner of City Capital Corporation (3C), is
non-executive Chairman of Leptis Magna and Scott Beattie is non-executive
director. Further executive and non-executive directors will be invited to join
the Board as the Company makes strategic investments.

WH Ireland is the Nominated Adviser and Broker to the issue and 3C is the
Company's capital markets adviser.

Michael Hammond commented:
"This is a very important day for Leptis Magna. We are confident that suitable
investment possibilities will be identified over the coming months, enabling us
to start driving the business forward in the medium-term."

Placing Price 40p
Number of new ordinary shares being issued under the Placing 2,500,000
Percentage of enlarged issued share capital subject to the Placing 33.3%
Number of ordinary shares in issue on Admission 7,500,000
Gross proceeds of the Placing #1,000,000
Net proceeds of the Placing to be received by the Company #850,000

Copies of the prospectus are available from WH Ireland Limited, Cannongate
House, 62-64 Cannon Street, London EC4N 6AE.