Acquisition

Jubilee Platinum PLC 29 July 2003 JUBILEE PLATINUM plc 37 Thurloe Street London SW7 2LQ Tel: 020 7584 2155 Fax: 020 7584 5893 Press Release Embargoed: 7:00am 29th July 2003 Jubilee Platinum plc - Acquires options on substantial land package with platinum group metal (PGM) potential in the western Bushveld Complex of South Africa - Applies for prospecting permits for its optioned eastern Bushveld properties, in conjunction with South African empowerment partner Jubilee Platinum plc ('Jubilee'), the AIM quoted platinum exploration company, is pleased to announce that its 90% owned South African subsidiary Maude Mining & Exploration (Pty) Ltd ('Maude') has entered into prospecting and purchase option agreements on a substantial land package. The concession, which totals 1962 hectares with PGM potential in the western Bushveld Complex, will complement Jubilee's already significant optioned PGM property holdings in the eastern Bushveld Complex. Jubilee firmly believes that due to the lack of global competing PGM geological environments, land acquisitions of this nature are and will become increasingly crucial to future world PGM supply. The Company's mission is to acquire property in areas with demonstrated sound geological PGM potential in order to build on its growing PGM land position. The package, comprising six properties, is located in the Rustenburg and Brits magisterial districts of the western Bushveld. The terms of the option agreements for the four properties in Rustenburg (1365 hectares) and two in Brits (597 hectares) include cash payments and purchase price, on success, for the surface and mineral rights. The properties, which have been carefully evaluated are located in favourable PGM geological environments and prolific platinum producing areas, which host nearby platinum development projects and producing platinum mines, including Marikana, Western Platinum mine, Karee Platinum mine, Aquarius Platinum, Eastern Platinum mine, Anglo Platinum's Pandora UG2 property and the Crocodile River mine. The Properties The Rustenburg properties are situated some 40km northwest of Rustenburg. The overlying cover on the properties includes material believed to derive from the important zonal platinum bearing Rustenburg Layered Suite (RLS). In the Brits area, the important platinum bearing UG2 chromitite reef is believed to be present on the properties, and if so, by interpretation and interpolation it could extend up to 8km in two separate zones. The surrounding Karee Platinum, Western Platinum and Aquarius Platinum operations are currently working the UG2 reefs. These properties add considerably to Jubilee's existing optioned PGM property portfolio of more than 4300 hectares in the eastern limb of the Bushveld Complex, held by its subsidiary Dullstroom Plats (Pty) Ltd ('Dullstroom'). Prospecting Permit Application - Eastern Bushveld Jubilee is also pleased to announce that Dullstroom together with K-Plats (Pty) Ltd, its black empowerment partner, have formally submitted applications for prospecting permits to the Department of Minerals and Energy, for its optioned eastern Bushveld properties. The application submissions are an important exploration milestone. Dullstroom's eastern Bushveld PGM properties lie some 15km south of Anglo American's Der Brochen platinum mine development and on the postulated strike extension of the platinum bearing Merensky and UG2 reefs. Based on an independent geological appraisal, Jubilee believes that the Merensky and UG2 reefs continue southwards under its tenements. Drilling targets have been established to target the two reefs. Ends For further information please contact: Colin Bird Justine Howarth / Cathy Malins Jubilee Platinum plc Parkgreen Communications Ltd Tel 020 7584 2155 Tel 020 7287 5544 This information is provided by RNS The company news service from the London Stock Exchange