Re Agreement

RNS Number:2696F
Hanover Capital Group PLC
18 December 2002

  Hanover Capital Makes a further Mining Investment through the Acquisition of
         Shares in a Copper, Nickel and Platinum Mining Project in Mali

Hanover Capital Group Plc ("Hanover" or the "Company"), the AIM quoted mining
investment company previously known as the Tera Group, has acquired a strategic
shareholding in a nickel, copper and platinum mining project in the Republic of
Mali.  This is part of the Company's initial mining investments following its
restructuring from a technology related company and the appointment of a Board
which specialises in investing in mining and natural resource projects.

The Company has acquired 384 ordinary shares, representing 40% of the issued
share capital in Barnard Castle Limited, which owns the Touban mining project in
Mali.  These are located in south eastern Mali near the border with the Ivory
Coast and Burkina Faso. The concession measures some 104 square kilometres and
includes the village of Touban. .

Under the terms of the agreement, Hanover's purchase consideration of the
investment in Barnard Castle Limited is in the amount of #500,000 to be
satisfied through the issue of 5,000,000 Hanover ordinary shares of 1p each at
10 per share and the issue of 2,500,000 "B" Warrants at 24p each to be exercised
within 5 years and 2,500,000 "C" Warrants at 20p each to be exercised within 4
years.   In due course it is the intention of Hanover to substantially increase
its investments in Steinbeck Limited (the subject of an announcement being
released concurrently) and Barnard Castle Limited in the near future.

Michael Edelson, Non-Executive Chairman commented on the investments:

"The addition of Barnard Castle Limited to our investment portfolio is a
strategic one, as it provides investors with diversity and an attractive hedging
proposition.  Most of our investments to date have been within the gold market,
our move to include Copper, Nickel and Platinum in our portfolio makes us a more
attractive proposition."

                                    - Ends -



For further information, please contact:

Michael Edelson, Non-Executive Chairman, Hanover Capital Group Plc
0161 274 3777

Ana Ribeiro/Simon Robinson, Parkgreen Communications
020 7287 5544




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