LON - Lonmin Provides Update On Takeover Panels Statement

LON - Lonmin Provides Update On Takeover Panels Statement                       
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")                                                                      
Lonmin provides update on Takeover Panels statement                             
3 September 2008                                                                
The Board of Lonmin Plc ("Lonmin" or the "Company"), advised by Citi and        
Greenhill, notes the announcement released this morning by the Takeover Panel   
concerning the pre-conditional approach for the Company by Xstrata Plc.         
The text of this announcement, released at 10.07 hrs this morning, was as       
follows:                                                                        
LONMIN PLC ("LONMIN")                                                           
XSTRATA PLC ("XSTRATA")                                                         
Following recent representations made by the advisers to Lonmin, the Panel      
Executive has been considering the application of Rule 2.4(b) of the Code to    
the announcement made by Xstrata, on 6 August 2008, in respect of Lonmin.       
Following discussions with both parties` advisers, the Panel Executive has ruled
that, unless the Panel Executive consents otherwise, Xstrata must,              
by 5.00 p.m. on 2 October 2008, either announce a firm intention to make an     
offer for Lonmin under Rule 2.5 of the Code or announce that it does not intend 
to make an offer for Lonmin. In the event that Xstrata announces that it does   
not intend to make an offer for Lonmin, Xstrata and any person(s) acting in     
concert with it will, except with the consent of the Panel Executive, be bound  
by the restrictions contained in Rule 2.8 of the Code for six months from the   
date of such announcement.                                                      
Each of the parties has accepted this ruling.                                   
END                                                                             
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