PMCI Platinum Min

RNS Number:7340J
Platinum Mining Corp of India PLC
29 September 2006

                    Platinum Mining Corporation of India PLC

                    Rejection of unsolicited offer from SPI

29 September 2006

The board of directors ("the Board") of Platinum Mining Corporation of India PLC
("PMCI") refers to the announcement yesterday ("the Announcement") under Rule
2.5 of the City Code on Takeover and Mergers by Montrose Partners LLP on behalf
of SPI Partners Limited ("SPI") of its firm intention to make an offer for the
entire issued and to be issued share capital of PMCI at a price of 12 pence per
ordinary share (the "Proposed Offer").

This is an unsolicited approach from SPI and no formal approach was made to PMCI
prior to, or since, the Announcement.

The Board, in conjunction with its financial adviser W.H. Ireland Limited, has
reviewed the content of the Announcement and the terms of the Proposed Offer
carefully and believes that the level of the Proposed Offer significantly
undervalues PMCI based on its prospects and the value of its assets.

The Board intends unanimously to reject the Proposed Offer and urges
shareholders to take no action at this time.

The Board's detailed views on the Proposed Offer and why shareholders of the
Company should reject it will be sent to shareholders once the formal offer
document from SPI has been issued.

Enquiries:
Malcolm Groat, Director                  Platinum Mining Corporation of India PLC

Telephone: 01202 606010

Keith Irons/Simon Rothschild             Bankside Consultants

Telephone: 020 7367 8888

Paul Dudley/Peter Jackson                WH Ireland Limited

Telephone: 020 7220 1666




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