OREANDA-NEWS. July 22, 2008. The Company announces that Dr Dmitry Dragun has given notice to terminate his position as Chief Financial Officer of the Company in order to pursue other business interests. Dr Dragun will continue in his role as Chief Financial Officer and will leave the Company with effect from 25 September 2008.

The board of directors of the Company are currently in final stage discussions with regards to a potential internal replacement and anticipate being able to make an announcment in due course.

Jack Rowell, Chairman, commented, 'The Board would like to thank Dmitry for his work over the last 4 years and his contribution to the development of the Company.'