Further investment in African Eagle

16 September 2013

Coburg Group Plc

('Coburg' or 'the Company')

Second Investment in African Eagle Resources Plc

Change of name of broker

COBURG GROUP PLC announces that it has made a second investment in the AIM quoted and Johannesburg listed company African Eagle Resources ("African Eagle") by subscribing in a placing announced today for 28,500,000 new African Eagle ordinary shares at a price of 0.175 p per share bringing Coburg's holding to a total of 107,009,570 shares representing 12.3% of the capital of African Eagle as enlarged by the placing. The placing price represents a discount of approximately 41.7% to the closing middle market price of 0.3 pence per African Eagle ordinary share on 13 September 2013, being the last trading day prior to this announcement.

The Company's initial investment in African Eagle was announced on 23 July 2013.

African Eagle is an investing company with a mandate to invest in the natural resources, infrastructure and service sectors, located in all geographic regions. African Eagle holds an interest of 10% in Blackdown Minerals Limited, which owns a portfolio of mineral assets (formerly owned by African Eagle) in Tanzania. The majority owner of Blackdown Minerals Limited is committed to the continued development of the assets. African Eagle's interest in Blackdown Minerals Limited is non-diluting until the new majority owner has committed $20m to the continued development of the assets.

African Eagle made a loss of £28,935,734 for the year to 31 December 2012, of which £25,366,967 related to the impairment of assets resulting from post balance sheet events leading to the accounts being prepared on a break up basis. African Eagle made a loss of £2,922,829 for the six months ended 30 June 2013 of which £1, 693,680 related to the impairment of assets.

The Company has also been informed that the name of its broker has been changed to SI Capital Limited.

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