THE FACILITATION OF EMPOWERMENT PROCESS                                         
  IMPALA PLATINUM HOLDINGS LIMITED                                                
  (Incorporated in the Republic of South Africa)                                  
  Registration number : 1959/001979/06                                            
  Share code : IMP / IMPO                                                         
  ISIN ZAE 000003554                                                              
  LONMIN Plc                                                                      
  (Incorporated in the United Kingdom)                                            
  Share code : LON                                                                
  ISIN code : GB0031192486                                                        
  THE FACILITATION OF EMPOWERMENT PROCESS                                         
  Lonmin Plc ("Lonmin") and Impala Platinum Holdings Ltd ("Implats") announced    
  today that they have signed a non-binding conditional Memorandum of             
  Understanding ("MoU") for the sale by Implats of its entire 27.1% holding in    
  Western Platinum Ltd. and Eastern Platinum Ltd. (together referred to as        
  "Lonplats").  Lonmin currently holds the balance of 72.9% of Lonplats, which is 
  Lonmin"s principal operating subsidiary.  The sale will simplify the structure  
  of both Implats and Lonmin and lays the foundation for a significant Black      
  Economic Empowerment (BEE) transaction in due course. The sale will also        
  generate substantial additional foreign direct investment by Lonmin in South    
  The key terms of the MoU are as follows:-                                       
  Implats will dispose of its entire 27.1% holding in Lonplats for US$800m. The   
  Principals" Agreement between Lonmin and Implats regulating their relationship  
  as shareholders and governing related matters will terminate by mutual agreement
  on completion of the transaction, thus ending joint control of Lonplats, the    
  restrictions relating to the introduction of new shareholders and the change of 
  control clause relating to Lonmin.  The transaction will occur as follows :     
  Implats will sell to Lonmin its 9.1% interest of the issued share capital of    
  Lonplats for a consideration of US$269 million.  Part of this consideration will
  be satisfied by the payment of Implats" share of the final Lonplats dividend,   
  estimated at US$27 million.                                                     
  Implats will simultaneously sell 18% of the issued share capital of Lonplats for
  a consideration of US$531 million to a new company (Newco) to be jointly formed 
  and owned (50:50) by Lonmin and Implats.  Historically Disadvantaged South      
  Africans (HDSAs) will be invited to acquire a controlling stake in Newco in a   
  process that will be facilitated by both Lonmin and Implats and overseen by     
  Newco will be funded through an initial equity capital contribution by Lonmin   
  and Implats of US$115.5 million each. The balance of Newco"s capital of US$300  
  million is expected to comprise senior debt facilities, mezzanine finance and   
  HDSA equity.  This is expected to be arranged by J.P. Morgan and Standard Bank. 
  Lonmin and Implats intend initiating the empowerment process promptly.  HDSAs   
  will be invited to subscribe for and/or purchase shares in the equity of Newco  
  with a view to Newco becoming controlled by HDSA"s.  Lonmin will oversee this   
  process with Implats" participation.                                            
  Conditions and Timetable                                                        
  The parties will enter into the sale and purchase agreement when satisfactory   
  debt financing for Newco has been secured and once the parties have received    
  confirmation to their reasonable satisfaction from the Department of Minerals   
  and Energy that Charter Scorecard credits in respect of units of                
  production/equity ownership will be granted both to Implats and to WPL/EPL upon 
  Newco becoming HDSA-controlled.                                                 
  The transactions in the shares in Lonplats and the formation of Newco are       
  conditional, inter alia, on the signing of legally binding agreements between   
  the parties, the approval of Lonmin shareholders (being related party           
  transactions under the UK Listing Rules), completion of the financing of Newco  
  and the approval of the South African competition authorities and other relevant
  regulatory authorities.                                                         
  Lonmin and Implats will work towards the signing of legally binding agreements  
  between them and Newco by 31 December 2003.  Subject to the receipt of the      
  necessary approvals, completion is expected to take place by 27 February 2004.  
  An announcement containing full details of the transaction, including the       
  financial effects will be made in due course.                                   
  Peter Joubert, Chairman of Implats said:                                        
  "This transaction has the potential to be another step in Implats" continued    
  rationalisation of its structure in line with the objectives we have set        
  ourselves to unlock shareholder value.  As our group has transformed itself from
  a resource-constrained company to one which has a range of growth opportunities,
  so the strategic holdings that we have built up over time have become less      
  important.  Lonplats has become a good cash generator for Implats" and played a 
  significant role in funding the opportunities for growth.  We have, however,    
  consistently maintained our position that we believed that our share price has  
  not recognised the full value of this investment.                               
  Sir John Craven, Chairman of Lonmin said:                                       
  "This transaction will consolidate Lonmin"s position in Lonplats and end        
  Lonplats joint control, significantly enhancing Lonmin"s strategic flexibility. 
  It is a substantial foreign investment in South Africa and also underlines      
  Lonmin"s support and endorsement of the South African Government"s BEE          
  initiative for the mining industry.                                             
  Commenting on the announcement the Minister of Minerals and Energy, Ms Phumzile 
  Mlambo-Ngcuka said :                                                            
  "The said assets under consideration are amongst the best in SA and in the      
  Successful conclusion of a deal with a BEE partner could be one of the biggest  
  transactions in the mining industry.                                            
  We welcome the steps undertaken by Impala and Lonmin and we are optimistic that 
  further discussions between the Department and the two companies will lead to   
  compliance with the requirements of the Broad-Based Socio-Economic Empowerment  
  Charter of the mining industry."                                                
  Press Enquiries:                                                                
  For Lonmin in London                                                            
  Anthony Cardew/ Clea Bourne              CardewChancery    +44 207 930 0777     
  For Lonmin in Johannesburg                                                      
  Jackie Range                              CardewChancery    +44 7951 010 926    
  For Implats                                                                     
  Charmane Russell/ Janet Whitaker            Russell Associates    +27 11 880    
  Analyst Meeting:                                                                
  An Analyst Meeting will be held today, 18 September 2003, in London at 14:00    
  (BST) and in Johannesburg at 15:00 (CAT):                                       
  London Analyst Meeting:                                                         
  20 Moorgate                                                                     
  London  EC2R 6DA                                                                
  +44 20 7588 2828                                                                
  Johannesburg Analyst Meeting:                                                   
  Jacaranda Room                                                                  
  Sandton Sun & Towers - Sandton                                                  
  18 September 2003                                                               
  Date: 18/09/2003 10:30:05 AM Produced by the JSE SENS Department