Company Information for Aricom plc

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Company Statement

Aricom was formed in late 2003 in order to develop the Kuranakh ilmenite and titanomagnetite deposit, situated in the north west of the Amur Region, in Russia’s Far East. This deposit was acquired in December 2003 from Peter Hambro Mining plc, the gold mining company.

Today, Aricom owns, or has the right to acquire, interests in five projects in the Far East of Russia and China – the Kuranakh and Bolshoi Seym iron ore and ilmenite deposits in the Amur Region, Garinskoye, K & S iron ore deposits in the Evreyskaya Avtonomnaya Oblast (EAO) and the potential Titanium Sponge Plant in North East China.

The company is headquartered in London, with a board of directors composed of UK and Russian citizens. The key shareholders are Mr. Peter Hambro and Dr. Pavel Maslovskiy, the founders of Peter Hambro Mining plc, and large institutional investors.

Aricom’s shares are traded on the London main market.

Current Operations

Kuranakh
LLC Olekminsky Rudnik, the 100 per cent owned subsidiary of Aricom, holds the licence for the exploration and development for the Kuranakh Ilmenite and Titanomagnetite deposit in the north west of the Amur Region. The licence covers an area of 85km2 and was explored extensively both during the Soviet era and subsequently by Aricom.

K & S
In April 2006 Aricom acquired an option to purchase 50 per cent of LLC Rubicon which holds the licences to develop the Kimkanskoye and Sutarskoye iron ore deposits. The licences over the two deposits were granted to Rubicon in February 2006 and have a term of 20 years, which is extendable.

Garinskoye
In October 2006 Rosnedra (a department of the Ministry of Mineral Resources, Russian Federation) initiated a tender for the licence to ‘mine iron ore on the Garinskoye deposit’.

Bolshoi Seym
In February 2006 Aricom entered into a non-binding agreement with Timia, a company related to Interros, who are the major shareholder in OJSC Norilsk Nickel. The agreement allowed for the establishment of a new holding company for Ural Mining, the company that owns the licence to develop the Bolshoi Seym deposit. The holding company would be 49 per cent owned by Aricom and 51 per cent owned by Timia with Aricom appointing the General Director of Ural Mining.

Titanium Sponge Plant
In June 2006 Chinalco, the largest nonferrous metal company in China and owner of China’s largest titanium metal processing plant, signed a Memorandum of Understanding with Aricom for the design and development of a titanium sponge production plant in China.

Geographical Spread

Aricom

Board of Directors and Key Management

Dr. Pavel Maslovskiy	Non-executive Chairman
Jay Hambro	Chief Executive
Peter Hambro	Deputy Chairman
Sir Malcolm Field	Senior Non-Executive Director
Brian Egan	Finance Director
Martin Smith	Technical Director
Yuri Makarov	Executive Director
Sir Roderic Lyne	Non-Executive Director

Company Address 10-11 Grosvenor Place London, United Kingdom SW1X 7HH Telephone: + 44 20 7201 8939 Facsimile: + 44 20 7201 8938 Email: info[at]aricom.plc.uk Website: http://www.aricom.plc.uk

Capital The number of ordinary shares in issue is 1,119,069,960

Year End 31 December

Nominated Brokers Canaccord Adams Limited 7th Floor, Cardinal Place, 80 Victoria Street, London SW1E 5JL

Nominated Advisors Canaccord Adams Limited 7th Floor, Cardinal Place, 80 Victoria Street, London SW1E 5JL JPMorgan Cazenove Limited 20 Moorgate London EC2R 6DA

Broker/Analyst Reports

16/05/07 - CanaccordAdams - Just Do It

Major Shareholders

Dr. Pavel Maslovsky	24.58%
Merrill Lynch Investment Management Ltd	12.07%
Lansdowne Partners	9.84%
Mr. Peter Hambro	8.97%
Capital Research and Management Co.	4.87%
Credit Suisse Luxembourg	3.32%
As at 21.03.2006

Related News

08/10/08 - Aricom Takes To The Trans-Siberian Railway To Keep Down Costs, As It Delivers Full Feasibility Studies On Its Sizeable Russian Iron Ore Projects
12/08/08 - There’s A New Equilibrium In Iron Ore Pricing, And Aricom Is Steadfastly On Course To Reap The Benefits
10/06/08 - Aricom Moves One Step Closer To Funding Its Huge Iron Ore Projects
28/01/08 - Aricom Working Steadily Towards Developing Two Major Iron Ore Projects In Russia
29/10/07 - Aricom Moves To Main Market And Starts Mining On Same Day
23/05/07 - Aricom Plans To Build Two Of The Largest Iron Ore Projects In The World

Most Recent Statement

04/12/08 - Kuranakh Project Update
13/11/08 - Memorandum of Understanding with MCC
04/11/08 - Interim Management Statement
08/10/08 - Iron ore feasibility study results
26/09/08 - Notice of announcement of iron ore feasibility study results
29/08/08 - Aricom completes JV with Chinalco on titanium sponge plant