Eastern Platinum Limited

Eastern Platinum Limited

February 29, 2008 17:22 ET

Eastern Platinum Limited: Grant of Incentive Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 29, 2008) - Eastern Platinum Limited (the "Company") (TSX:ELR)(AIM:ELR)(JSE:EPS) reports that on February 19, 2008, in accordance with the Company's Stock Option Plan (the "Option Plan") and the policies of the Toronto Stock Exchange (the "TSX") it granted Incentive Stock Options on 1,000,000 shares of the Company's capital stock, exercisable up to February 20, 2018 at a price of $3.38 per share. The exercise price of these options was set at market price as defined by TSX policy.

These options were granted to employees and officers of the Company, including Director Dr. Robert Gayton, who was granted 400,000 options.

Total shares issued and outstanding: 669,807,027.

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