AQP - Aquarius Platinum Limited - Notice to the holders of the

AQP - Aquarius Platinum Limited - Notice to the holders of the                  
US$300,000,000 4.00 per cent                                                    
Aquarius Platinum Limited                                                       
(Incorporated in Bermuda)                                                       
Registration Number: EC26290                                                    
ISIN Code: BMG0440M1284                                                         
JSE Share Code: AQP                                                             
THIS NOTICE IS IMPORTANT AND REQUIRES THE IMMEDIATE ATTENTION OF                
BONDHOLDERS. IF BONDHOLDERS ARE IN ANY DOUBT AS TO THE ACTION THEY              
SHOULD TAKE, THEY SHOULD SEEK THEIR OWN FINANCIAL AND LEGAL ADVICE              
IMMEDIATELY FROM THEIR STOCKBROKER, SOLICITOR, ACCOUNTANT OR OTHER              
INDEPENDENT FINANCIAL OR LEGAL ADVISER.                                         
Notice to the holders of the US$300,000,000 4.00 per cent. Convertible          
Bonds due 2015 (the "Bonds") (ISIN: XS0470482067; Common Code:                  
047048206) of AQUARIUS PLATINUM LIMITED (the "Issuer")                          
Pursuant to Conditions 6(f) and 17 of the terms and conditions of the           
Bonds (the "Conditions"), as set out in the Trust Deed dated 18 December        
2009 between the Issuer and BNY Corporate Trustee Services Limited and          
constituting the Bonds (the "Trust Deed"), notice is hereby given to            
Bondholders that in connection with the Dividend announced by the Issuer        
on 11 August 2011, the Conversion Price of the Bonds has been adjusted          
pursuant to Condition 6(b)(iii) from US$6.687 per Common Share to               
US$6.578 with effect from 5 September 2011. This adjustment to the              
Conversion Price includes a carryover component from the March 2011             
dividend paid, in accordance with Condition 6(f).                               
Words and expressions defined in the Conditions shall have the same             
meaning when used in this announcement.                                         
For further information please contact:                                         
In the United Kingdom:                                                          
Gavin Mackay                                                                    
+44 7909 547 042                                                                
In Australia:                                                                   
Willi Boehm                                                                     
+61 8 9367 5211                                                                 
In South Africa:                                                                
Stuart Murray                                                                   
+27 (0) 11 656 1140                                                             
7 October 2011                                                                  
Sponsor                                                                         
RAND MERCHANT BANK (A division of FirstRand Bank Limited)                       
Date: 07/10/2011 10:10:01 Supplied by www.sharenet.co.za                     
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