LON - Lonmin Plc - Notification of Transactions of Directors

LON - Lonmin Plc - Notification of Transactions of Directors                    
Lonmin Plc                                                                      
(Incorporated in England and Wales)                                             
(Registered in the Republic of South Africa under registration number           
1969/000015/10)                                                                 
JSE code:LON                                                                    
Issuer Code:LOLMI & ISIN:GB0031192486                                           
("Lonmin")                                                                      
4 February 2008                                                                 
Notification of Transactions of Directors and Persons Discharging Managerial    
Responsibilities ("PDMRs")                                                      
Pursuant to DR 3.1.4 R Lonmin Plc (the "Company") confirms that in accordance   
with the rules of the Long Term Incentive Plan ("LTIP") contained within the    
Lonmin Plc Shareholder Value Incentive Plan, the PDMR listed below was on 1     
February 2008 granted a LTIP Award over Ordinary Shares of the Company.         
PDMR            Position                     No. of shares                      
Chris Sheppard  Executive Vice President -   3,000                              
               Marikana Mining                                                  
The LTIP Award will normally vest on the third anniversary of the award date.   
The proportion of an award that vests will be dependent on satisfaction of a    
performance condition comprised of two objective tests, assessed independently  
of each other.                                                                  
One half of the award is based on Relative TSR, comparing the total return      
accruing to Lonmin shareholders with that of 20 companies selected from the     
mining and metals sector over a three-year period (assuming dividend            
reinvestment), with no provision for re-testing.  None of the RTSR-based part of
the LTIP Award will vest for performance below the median of the group, the     
vesting schedule thereafter being as follows:                                   
Threshold  (median)                       20% vesting                           
Target (upper quartile)                   70% vesting                           
Stretch (top decile)                    100% vesting                            
Between these targets, a straight-line sliding scale operates.                  
The other half of the LTIP Award is based on EBIT (Earnings Before Interest and 
Tax) by reference to the Company`s absolute level of audited EBIT for the year  
ended 30 September 2009.  There will be no re-testing and no part of the EBIT-  
based LTIP Award will vest for performance less than threshold.  The vesting    
schedule thereafter is as follows:                                              
Threshold                          20% vesting                                  
Target                             pro rata vesting                             
Stretch                            100% vesting                                 
Between threshold and stretch, a straight-line sliding scale operates.          
For reasons of commercial sensitivity, the targets are not disclosed, but the   
Remuneration Committee believes that they should prove stretching, yet          
realistic.  There will be full disclosure of the performance target at the end  
of the performance period.                                                      
The Remuneration Committee believes that this combination of measures fully     
aligns the interests of the executives and senior managers who participate in   
the LTIP with both the strategic objectives of the Company and the interests of 
its shareholders.                                                               
In addition, Chris Sheppard was on 1 February 2008 also granted an award of     
notional shares under the Stay & Prosper Plan (the "Plan").                     
PDMR            Position                No. of notional shares                  
Chris Sheppard  Executive Vice          17,500                                  
               President - Marikana                                             
               Mining                                                           
The Plan is a cash settled plan.  50% of the award is linked to the same EBIT   
performance condition as described above and the remaining 50% is subject to    
continued employment for a period of three years.  The retention component of   
the Plan is designed to retain key managers within the group and therefore is   
not subject to performance conditions.  There are no `good leaver` provisions   
associated with the Plan.                                                       
The executive directors of Lonmin Plc are not eligible to participate in the    
Plan.                                                                           
Date: 04/02/2008 14:48:54 Supplied by www.sharenet.co.za                     
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