Anchors aweigh for Trans Hex

News release

The purchase of the 966 Gross Registered Tonne mv Ivan Prinsep signals the
beginning of deep water operations for alluvial diamond miner Trans Hex.
The vessel will be used to fast-track the start-up of mining activities in the
Diamond Fields International (DFI) joint venture off the Namibian coast.
"I know the vessel and the general joint venture mining area well," said Andre
Louw, Trans Hex executive director in charge of marine operations. "The proven
and cost effective air-lift technology used on mv Ivan Prinsep is ideal for
mining operations in the promising Marshall Fork and Diaz Reef features."
The recently purchased vessel is in Cape Town undergoing maintenance and
repairs including a number of technical enhancements. In addition, experienced
personnel are being handpicked to fill a variety of available vacancies.
The installation of a new upgraded Sonar Visualisation System (SVS) will
provide high resolution graphical images of the sea bed during mining

activities. This improvement will greatly assist the deployment and operation
of the mining heads consequently increasing production.

The vessel should head for the mining area within the next ten to twelve weeks,
about five and half months ahead of the schedule laid out in the DFI joint
venture agreement.

"This vessel is an interim contribution to the joint venture," explained Louw.
"We are in the process of purchasing a second vessel which will undergo
refitment in Cape Town. This ship, once fully converted into a mining unit,
will fully comply with the agreed-upon technical specifications for the joint
venture. It is anticipated that deployment of the second vessel to the mining
area will take place by the target date of mid November."

"At that time the mv Ivan Prinsep will be re-assigned to exploration and
sampling work on some of Trans Hex's other concessions," adds Louw.

To date, Trans Hex marine operations have been confined to shallow water
activities in the so-called 'a' concession areas - less than 20-metres water
depth - off the South African West coast. Operations in these zones are highly
weather dependent and extended foul conditions can adversely affect production
output.

"Larger vessels are less affected by inclement weather," said Louw. "Our entry
into deeper water operations will allow us to more accurately plan marine
diamond production. I am confident this is the beginning of big things for
Trans Hex."
Ends.
For further information : Andre Louw
Trans Hex Group
Tel: (021) 683-2685
Issued by : Cullum Johnston
BHA Communications
Tel: (021) 683-2685 / 083 212-2455
Date : 26th March 2001