The Company is pleased to advise that the on-going dispute between the Company and Peak Resources Limited of Hong Kong in respect of the validity of an option relating to the Company's assets in Ukraine has been settled with the effect that the disputed option is now terminated.

For the avoidance of doubt, this settlement is not in any way related to the on-going litigation in Ukraine regarding the validity of the Company's Ukrainian production licences and the position in this regard remains as announced by the Company on 9 May 2006.   

For further information, please contact:

Regal Tel: 020 7408 9500
Paul Morgan - Chairman & CEO 
 
Buchanan Communications Tel: 020 7466 5000
Bobby Morse