Rejection of Offer

Aminex PLC 14 March 2002 Aminex PLC ("Aminex" or "the Company") Rejection of Offer by Apple Oil and Gas Limited ("Apple") The Board of Aminex notes the Offer Document issued today by Apple. The Directors of Aminex, who have been so advised by Davy Corporate Finance Limited, strongly believe that Apple's Offer is wholly inadequate, severely understates the potential and prospects of Aminex, and should be rejected by Aminex Shareholders. The Directors and their advisers are considering the contents of the Offer Document and will shortly issue a document to Aminex Shareholders setting out in full the reasons why the Board believes they should reject Apple's pitiful and uncertain Offer. In the meantime, the Board of Aminex continues to advise Aminex Shareholders to take no action in respect of Apple's Offer. Brian Hall, Chief Executive of Aminex, said today: "There is nothing in Apple's document to change our original view that their offer is speculative and uncertain. Our shareholders have no guarantee of receiving anything if they accept. Apple are basically saying 'Give us your company and we may pay you back later'. On the other hand, they may not. The one thing that is certain is the £3 million to which they intend to help themselves." 14 March 2002 Enquiries: Aminex PLC +44 (0)20 7240 1600 Brian Hall Davy Corporate Finance Limited +353 1 679 6363 Hugh McCutcheon College Hill +44 (0)20 7457 2020 James Henderson Archie Berens Dennehy Associates +353 1 676 4733 Michael Dennehy Responsibility Statement The directors of Aminex accept responsibility for the information contained in this announcement except that the only responsibility accepted in respect of the information relating to Apple, which has been complied from published sources, is to ensure that it has been correctly and fairly reproduced and presented. Subject as aforesaid, to the best of the knowledge and belief of the directors of Aminex (who have taken all reasonable care to ensure that such is the case), the information contained in this announcement for which they accept responsibility is in accordance with the facts and does not omit anything likely to affect the import of such information. Davy Corporate Finance Limited, which is authorised to carry on investment business in Ireland by the Central Bank of Ireland, is acting exclusively for Aminex and no one else in connection with the offer and will not regard any other person as its client or be responsible to any person other than Aminex for providing the protections afforded to clients of Davy Corporate Finance Limited, nor for giving advice to any such person in relation to the offer. Davy Corporate Finance Limited has approved the contents of this announcement solely for the purpose of section 21 of the Financial Services and Markets Act 2000. The principal place of business of Davy Corporate Finance Limited is Davy House, 49 Dawson Street, Dublin 2, Ireland. Davy Corporate Finance Limited has given and has not withdrawn its consent to the issue of this announcement with the inclusion of its advice in the form and context in which it is included. This information is provided by RNS The company news service from the London Stock Exchange