PGL - Pallinghurst - Gemfields Completes Faberge Branding Arrangements

PGL - Pallinghurst - Gemfields Completes Faberge Branding Arrangements          
Pallinghurst Resources (Guernsey) Limited                                       
Registration Number: 47656                                                      
(Incorporated in Guernsey)                                                      
ISIN: GG00B27Y8Z93                                                              
BSX share code: PALLRES                                                         
JSE share code: PGL                                                             
("Pallinghurst" or "the Company")                                               
GEMFIELDS COMPLETES FABERGE BRANDING ARRANGEMENTS                               
Shareholders are referred to the Company`s abridged pre-listing statement       
released on the Stock Exchange News Service ("SENS") of the JSE Limited ("JSE") 
on Friday, 15 August 2008. Pallinghurst is pleased to announce that Gemfields   
Resources plc ("Gemfields") has completed the arrangements granting it an       
exclusive worldwide licence to use the Faberge brand name in respect of coloured
gemstones (excluding diamonds). Pallinghurst owns 46.8% in Faberge Limited and  
an effective 28% interest in Gemfields through portfolio company Rox Limited.   
Gemfields intends that the Faberge name be reserved for high-end, conflict-free 
and ethically mined gemstones of guaranteed provenance. In addition, Faberge    
gemstones will be individually numbered and certificated to ensure traceability.
Pallinghurst CEO Arne H. Frandsen said: "This transaction delivers the framework
within which both Gemfields and Faberge can deliver on the strategy of bringing 
some of the world`s premier gemstones to the market under the Faberge brand.    
This will create significant incremental value for Pallinghurst and all parties 
involved."                                                                      
Gemfields CEO Sean Gilbertson said: "Coloured gemstones were a key theme in the 
remarkable works of Peter Carl Faberge. Gemfields` ability to deploy the Faberge
name on coloured gemstones continues that association and adds yet another      
compelling layer to Gemfields` vision of bringing high grade, ethically         
produced, conflict-free gemstones of certified provenance directly from the mine
to the market on an integrated basis."                                          
The licence, granted pursuant to an option which Gemfields acquired in June     
2008, covers an initial 15 year term.                                           
1 September 2008                                                                
Sponsor                                                                         
Investec Bank Limited                                                           
Enquiries                                                                       
Pallinghurst                                                                    
Arne H. Frandsen, CEO         +44 (0) 20 751 83399                              
College Hill                  +27 (0) 11 447 3030                               
Johannes van Niekerk          +27 (0) 82 921 9110                               
Date: 01/09/2008 15:12:01 Supplied by www.sharenet.co.za                     
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