HAO Hanover Cap

RNS Number:6243G
Hanover Capital Group PLC
24 January 2003

     Hanover Capital increases its investment in Valley Forge Site Limited

Hanover Capital Group Plc ("Hanover" or the "Company"), the AIM quoted mining
investment company previously known as the Tera Group, has increased its
investment in Valley Forge Site Limited, which owns the Toubikoto and
Manianguiti mining projects, in Mali to 40%.

Under the terms of the agreement, Hanover has acquired a further 204 ordinary
shares in Valley Forge Site Limited equally from Keyvale Investments Limited and
Vadni International Limited.  The total purchase consideration in respect of
this additional investment in Valley Forge Site Limited is #531,250 to be
satisfied through the issue of 4,427,084 ordinary 1p shares at a price of 12p
per share. As a result of the investment, Hanover will own 384 ordinary shares
in Valley Forge Site Limited.  Application has been made for the 4,427,084
Hanover shares to be traded on AIM and admission is expected on 31 January 2003.

Following the above transactions and the transaction with Jubilee Investment
Trust plc, these parties hold an interest in Hanover:


              Company                             Shares            %
   Vadni (International) Limited                 4,440,104        6,07
    Keyvale Investments Limited                  4,440,104        6,07

Issued share capital after these transactions and the transaction with Jubilee
Investment Trust Plc is as follows:

Ordinary Shares of 1p                                 73,122,292
"A" Warrants                                          2,814,024
"B" Warrants                                          12,345,271
"C" Warrants                                          9,531,247

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

"Our decision to further invest in Valley Forge Site Limited comes at a time
when gold is at a six year high, and we are confident that these investments
will, in the long term, provide shareholders with shareholder value.

                                    - 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




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