Issue of Equity - Brazilian Subsidiary Fundraising

    Issue of Equity - Brazilian Subsidiary Fundraising
             



                          ANGUS & ROSS PLC
                             (AIM: AGU)

  BRAZILIAN SUBSIDIARY RAISES £825,000 AS PART OF PRE IPO FINANCING
          FIRST REPORT ON GREENLAND DRILLING BEING PREPARED

Angus & Ross  plc ("A&R"  or "the  Company"), the  AIM quoted  mining
exploration  company  with   interests  in   Greenland,  Brazil   and
Australia, is pleased to announce  that its Brazilian subsidiary  St.
Andrews Mining Limited ("St. Andrews") has raised a total of £825,000
in a pre IPO round of equity financing via a Private Placing.

11 million  shares were  sold  at 7.5p  each including  3.34  million
subscribed for by  A&R. As  a result  outside shareholders  including
local management now  own 19%  of St.  Andrews, with  A&R owning  the
balance of 81%. At the placing  price, St. Andrews is capitalised  at
£5 million.

St. Andrews continues to  focus on proving up  gold resources in  the
Matto Grosso area  of central Brazil  and the monies  raised will  be
used to  fund  exploration  taking place  at  the  company's  various
projects in Brazil, particularly Santa Débora - where a comprehensive
programme of trenching, and drilling  is taking place to establish  a
JORC standard  gold resource  on  a small  section of  the  company's
exploration licences in the Salinas - Praia Grande gold trend.

Canadian consultants, Wardrop Engineering  Inc., will be  supervising
local consultants Multigeo Mineração  and St. Andrews' management  in
order to achieve JORC standard resources at both Santa Débora and the
smaller but higher grade Santa Elena project.

A further  Private  Placing  is  likely  to  be  made  subsequent  to
Multigeo's report, reflecting  an updated valuation  of the  company.
The Board of St. Andrews is  planning for an initial public  offering
in early 2008  in order to  finance development of  Santa Débora  and
other projects.

In Greenland exploration drilling continues and the first two batches
of assay results have been received.  These are being correlated with
the drill logs and a full  report and interpretation of the  progress
to date is being prepared for release as soon as possible.



For further information contact:

Angus & Ross Plc
Robin Andrews, Chairman                         01751 430988
Paul Williams, Finance Director                 01606 855022

Bishopsgate Communications                      020 7562 3366
Nick Rome

Landsbanki Securities (UK)                      020 7426 9000
Fred Walsh

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