SOURCE: Southern African Resources PLC

May 25, 2005 09:37 ET

Southern African Resources PLC announces - Change of Name

London -- (MARKET WIRE) -- May 25, 2005 --


African Platinum plc (formerly Southern African Resources Plc)
Ticker: APP (formerly SFU)
Index: AIM
Sector: Exploration

SHAREHOLDERS APPROVE SA RESOURCES NAME CHANGE

London, 25 May 2005 - Shareholders of AIM-listed platinum exploration and development company Southern African Resources plc today approved a proposal to change the company's name to African Platinum plc - Afplats for short - which has been registered with the Registrar of Companies with immediate effect. The company's AIM trading symbol will also change from SFU to APP with effect from Thursday 26 May 2005.

Chief executive Roy Pitchford said the name change was designed to give the company a more clearly descriptive identity ahead of its planned secondary listing on the American Stock Exchange, the purpose of which is to facilitate further investment by North American investors.

"Given our exclusive focus on platinum group metals and our goal of building the premier pan-African platinum investment opportunity, we felt our old name was too generic to support our expanding corporate marketing campaign. 'African Platinum' on the other hand states the nature of our business explicitly," he said.

The pre-feasibility study on Afplats's flagship Leeuwkop project in the Western limb of the South African Bushveld Complex is due to be published early next month. The current mineral resource is 50 million ounces 4E (the three platinum group metals plus gold) including 8 million ounces in the indicated category, and the company's objective is to build a resource base exceeding 100 million ounces 4E in the greater Leeuwkop/Imbasa/Inkosi project area. The Leeuwkop scoping study envisages a 300 000 ounce 4E per year mining and concentrating operation as the first phase of a project that will eventually encompass multiple mines on the property. Afplats also holds exploration rights over prospective platinum group metals targets in countries neighbouring South Africa.

AFRICAN PLATINUM PLC ENQUIRIES:
Chief Executive - Roy Pitchford
+27 (0)82 419 2581 or +44 (0)77 9390 9985



Investor & Media Relations - Kathy du Plessis
+27 (0)11 728 4701 or +27 (0)83 266 5847 (Mobile)
platinum@dpapr.com or info@afplats.com



Website: www.sar-plc.com or www.afplats.com

DISCLAIMER: Investing in all equities, including natural resources-related equities, carries risks which should be taken into consideration when making an investment. This announcement contains forward-looking statements regarding African Platinum plc (formerly Southern African Resources Plc), including the development of its mining development projects. Actual results relating to any and all of these subjects may differ materially from those presented.


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