LONMIN PLC - ANNOUNCEMENT

Lonmin  Plc  and Helix Resources NL - Proposed Issue of Helix Shares,  Joint
Venture and Strategic Alliance


Lonmin  Plc  (Lonmin) is pleased to announce that it has signed a Memorandum
of   Understanding  (MOU)  with  Helix  Resources  NL  (Helix),  a   company
incorporated in Western Australia, covering;


*  Lonmin taking a private equity placement of six million Helix shares at a
price of Australian dollars (A$) 1.30 per share, together with the issue  of
options  over  2 million Helix shares exercisable at A$1.00  by  31  October
2002.   Lonmin will also participate in Helix's pro-rata options issue which
will  entitle  Lonmin  to  options over a further  2  million  Helix  shares
exercisable  at  A$1.00.  The placement of fully paid shares  would  provide
Lonmin  with  an  initial  equity of 11.8% in the  capital  of  Helix.   The
placement  price recognises costs already incurred by Helix  in  progressing
the  Munni Munni project to full Feasibility Study (FFS) stage.  Lonmin  has
agreed that at no time will its equity in Helix exceed 19.9%.


*  Additionally, Lonmin being entitled to a 50 per cent interest in the  new
Munni  Munni joint venture by providing funding and technical assistance  to
deliver a FFS.  Lonmin will provide funding of A$8.0 million over the  first
15 months from the date of formation of the joint venture.


* Lonmin having the right to purchase the products from Munni Munni.


*  A  strategic alliance for the exploration of PGM's generally and for  the
progressing of Helix's Munni Munni project in particular.


The   parties  expect  Board  approvals  and  completion  of  the  necessary
documentation  to give effect to the terms outlined in the  MOU  within  the
next month.


For  further  information please contact Anthony Cardew or  Jon  Simmons  at
Cardew  and Co; tel: 020 7930 0777, or Ian Farmer/Chris Davies at  020  7201
6000.


Reference may also be made to the website www.helix.net.au.


END