Rule 5.4 Announcement

RNS Number:6222J
Montrose Partners LLP
28 September 2006



Platinum Mining Corporation of India PLC
28 September 2006

SPI Partners Limited
28 September 2006



                        ANNOUNCEMENT IN ACCORDANCE WITH
               RULE 5.4 OF THE CITY CODE ON TAKEOVERS AND MERGERS


In accordance with Rule 5.4 of the City Code on Takeovers and Mergers (the
"Code"), SPI Partners Limited ("SPI"), a wholly owned subsidiary of SUN Trade
(International) Limited, announces that on 27 September 2006 it acquired an
interest in 51,984,000 ordinary shares of #0.00045 (0.045 pence) (the "Shares")
in Platinum Mining Corporation of India PLC ("PMCI") by way of irrevocable
commitments (the "Irrevocable Undertakings") from Mr Steven Newbery and Ms Lisa
Pickering, at a price of #0.12 (12 pence) per Share, as follows:

* 39,184,000 Shares from Steven Newbery; and
* 12,800,000 Shares from Lisa Pickering.

The Shares represent, in aggregate, approximately 29.6 per cent. of the 
entire issued ordinary share capital of PMCI.

The Irrevocable Undertakings will lapse if (i) an announcement relating 
to an offer by SPI for the entire issued share capital of PMCI (the       
"Offer") under Rule 2.5 of the Code is not released by 5.00pm on 7       
October 2006 or (ii) if the offer document relating to the Offer is not       
posted within 28 days following the date of the announcement referred to       
in (i) above (or within such longer period as may be determined by SPI       
with the consent of the Panel on Takeovers and Mergers). The Irrevocable       
Undertakings provide that Steven Newbery and Lisa Pickering shall       
exercise their voting rights attaching to the Shares in PMCI, the subject
of the Irrevocable Undertakings, in accordance with SPI's instructions in
order to enable any condition of the Offer to be satisfied and to enable
the Offer to become unconditional in all respects.

The total number of shares in PMCI in which SPI has an interest,       
including the Shares the subject of the Irrevocable Undertakings, amounts
to 80,839,008 PMCI shares representing approximately 46.03 per cent of
the entire issued ordinary share capital of PMCI. Save for the Shares
subject to the Irrevocable Undertakings, set out below are details of the
shares in PMCI in which SPI has an interest held by any associate(s) of
SPI:

     28,855,008 Shares registered in the name of Deutsche Bank International 
     Limited of PO Box 727, St. Paul's Gate, New Street, St Helier, Jersey     
     JE4 8ZB via CREST system agent State Street Nominees Limited.

Notes

Dealing Disclosure Requirements

Under the provisions of Rule 8.1 of the City Code, all dealings in      
"relevant securities" of PMCI or SPI by PMCI or SPI, or by any of their       
respective "associates" (within the meaning of the City Code) must also       
be disclosed by no later than 12:00 noon (London time) on the business       
day following the date of the relevant transaction. Under the provisions of
Rule 8.3 of the City Code, any person who, alone or  acting together with any
other person(s) pursuant to an agreement or understanding (whether formal or
informal) to acquire or control relevant securities of PMCI, owns or
controls, or becomes the owner or controller, directly or indirectly, of one
per cent. or more of any class of securities of PMCI is required to disclose,
by not later than 3:30pm (London time) on the business day following the date
of the relevant transaction, dealing in such securities of PMCI (or in any
option in respect of, or derivative referenced to, any such securities)
during the period to date on which the offer becomes or is declared
unconditional as to acceptances or lapses or is otherwise withdrawn.

A disclosure table, giving details of the companies in whose "relevant
securities" "dealings" should be disclosed, and the number of such securities in
issue, can be found on the Takeover Panel's website at
www.thetakeoverpanel.org.uk.

"Interests in securities' arise, in summary, when a person has long economic
exposure, whether conditional or absolute, to changes in the price of
securities. In particular, a person will be treated as having an "interest" by
virtue of the ownership or control of securities, or by virtue of any option in
respect of, or derivative referenced to, securities.

Terms in quotation marks are defined in the Code, which can also be found on the
Panel's website. If you are in any doubt as to whether or not you are required
to disclose a "dealing" under Rule 8, you should consult the Panel.




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

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