Holdings following placing

RNS Number:7557N
African Eagle Resources PLC
21 July 2003


                          AFRICAN EAGLE RESOURCES plc

                           SIGNIFICANT SHAREHOLDINGS

African Eagle Resources plc (African Eagle) announces that, following the recent
placing of new shares and admission to AIM, the holdings of the directors and
significant shareholders in the enlarged share capital of African Eagle are as
follows: 
 
                                                                                      
                                Shares in issue                    58,563,508          
                                                                                       
                                Director's interests:            No of shares        % 

                                John Park                           3,508,467     5.99 

                                Mark Parker                         2,256,087     3.85 

                                Chris Davies                          266,667     0.46 

                                Herman Oehl                           700,000     1.20 

                                Euan Worthington                      225,000     0.38 

                                Total directors' interests          6,956,221    11.88 
                                                                                       
                                Significant shareholders:        No of shares        % 

                                RAB Europe Fund Limited             9,600,000    16.39 

                                Orogen Holding (BVI) Ltd            6,903,703    11.79 

                                J P M F Commodity Share fund        4,450,000     7.60 

                                Mr R B Rowan                        3,043,826     5.20 
 
Note 1     Orogen Holding (BVI) Limited is a 100% subsidiary of Gold Fields 
           Limited 
 
Note 2     Mr Rowan's interests include the holdings of Sunvest Corporation Ltd 
           of which Mr Rowan is the majority shareholder. 
 
 
John Park 
Chairman 
 
21 July 2003 

                                                                                                         
                Press Contacts                                          Tel                  Fax         

                John Park (Chairman)    African Eagle            00 61 7 5528 6750    00 61 7 5528 6750  

                Mark Parker (MD)        African Eagle            01590 679 420        020 7691 7745      

                Carina Corbett          4C Communications Ltd    020 7907 4761        020 7907 4769      

                John Robertson          Nabarro Wells            020 7710 7400        020 7710 7401      

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