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Notice to holders of US$300,000,000 4% Conv Bonds

24th Sep 2010 09:05

AQUARIUS PLATINUM LIMITEDASX, LSE & JSE24 September 2010

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 12 August 2010, the Conversion Price of the Bonds has been adjusted pursuant to Condition 6(b)(iii) from US$6.773 per Common Share to US$6.687 per Common Share with effect from 6 September 2010. Such adjustment to the Conversion Price also takes into account an adjustment carried forward in accordance with Condition 6(f) in respect of the interim dividend announced by the Issuer on 11 February 2010.

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 042In Australia: In South Africa: Willi Boehm Stuart Murray Aquarius Platinum Corporate Services +27 (0) 11 656 1140 +61 8 9367 5211 REGISTERED OFFICE

Aquarius Platinum Limited ● Clarendon House ● 2 Church Street ● Hamilton HMCX Bermuda

Email: [email protected]

Telephone: +61 8 9367 5211

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