PETER HAMBRO MINING PLC – GOLD EXCHANGEABLE BONDS

Peter Hambro Mining Group announced earlier this month it has agreed to purchase a total of $87 million nominal of its 7% Gold Exchangeable Bonds due 2012 at an average price of US$95.00 plus accrued interest from a number of investors.

Peter Hambro, Chairman, commenting on the announcement said: “As was our stated
intention, we have used part of the proceeds of today’s placing to de-risk our balance sheet”.