LON - Lonmin Plc - Notification of transactions of directors and persons

LON - Lonmin Plc - Notification of transactions of directors and persons        
discharging managerial responsibilities                                         
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")                                                                      
7 January 2009                                                                  
Notification of Transactions of Directors and Persons Discharging Managerial    
Responsibilities ("PDMRs")                                                      
Pursuant to DR 3.1.4 R, Lonmin Plc (the "Company") confirms that Mr Ian Farmer, 
a director of the Company was today granted an award of 15,000 shares under the 
Long Term Incentive Plan ("LTIP").                                              
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 absolute share price as set out in the vesting
schedule below:                                                                 
Performance       Company`s share     Proportion of                             
Level             price at end of     shares that will                          
performance period  vest                                      

Maximum           GBP25 or above      100%                                      
Threshold         GBP20               20%                                       
Below Threshold   Below GBP20         Nil                                       
The other half of the LTIP 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:                                   
Performance Level    Company`s           Proportion of                          
                    percentile ranking  shares that will                        
within the          vest                                    

                    Comparator Group                                            
Maximum              90th percentile or  100%                                   
                    above                                                       
Target               75th percentile     70%                                    
Threshold            Median              20%                                    
Below Threshold      Below median        Nil                                    
Between these targets, a straight-line sliding scale operates.                  
In the event of a change of control taking place within 12 months of the date of
grant, the Relative TSR test shall cease to apply and the whole of the LTIP     
award will be subject to the absolute share price test.  In line with the       
discretions available to it under the Plan Rules, the Remuneration Committee has
determined that time apportionment would also cease to apply.                   
The Remuneration Committee believes that this combination of performance        
measures and targets fully align Mr Farmer`s interests with both the strategic  
objectives of the Company and the interests of its shareholders.   It is        
believed that the targets set are stretching although achievable, and if both   
were attained would indicate that significant value had been delivered to       
shareholders, while mitigating the risk of "reward for failure".                
End                                                                             
Date: 08/01/2009 07:05:25 Supplied by www.sharenet.co.za                     
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