PMS Palmaris Cap.

RNS Number:2073F
Palmaris Capital PLC
15 November 2004


               Palmaris Capital plc ("Palmaris" or "the Company")

                 Statement re Perseverance Corporation Limited

The Company notes that the share price of Perseverance Corporation Limited ("
Perseverance") has risen significantly in recent weeks from 27 cents on 28th
September 2004 to 37.5 cents on 11th November 2004.  Palmaris Capital believe
this movement to be mainly due to the recent announcement by Perseverance of
significant increases to the resources and reserves at their Fosterville Gold
Mine. Perseverance is listed on the Australian Stock Exchange.

Palmaris Capital currently hold 57,233,745 shares in Perseverance representing
10.73% of the current issued share capital.


For further information please contact:

Greg Melgaard, Managing Director                              Tel: 020 7243 3991
Jim Richardson, Finance Director                              Tel: 01236 440 410
Alasdair Robinson, Noble & Company Limited                    Tel: 0131 225 9677


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