NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION 

15 SEPTEMBER 2009

ROX CONDUIT LTD

WITHDRAWAL OF PROPOSED OFFER FOR SHARES IN GEMFIELDS PLC

On 5 June 2009 Rox Conduit Ltd (RoxC) announced that it was considering a possible offer for the ordinary shares in Gemfields plc (Gemfields) not already owned by its subsidiary Rox Limited (Rox) and by Pallinghurst Resources Limited (Pallinghurst), a related party of RoxC. 

RoxC announces today that it no longer wishes to make an offer for Gemfields.

For the purposes of Rule 2.8 and other relevant provisions of the City Code on Takeovers and Mergers (the Code), RoxC reserves the right to announce an offer or possible offer or make or participate in an offer or possible offer for Gemfields and/or take any other action which would otherwise be restricted under Rule 2.8 of the Code within the next six months, in the event that: 

• an agreement or recommendation from the board of Gemfields is forthcoming; or

• there is an announcement by a third party of an offer or possible offer (as defined in the Code) for Gemfields; or

• Gemfields announces a 'whitewash' proposal (as described in Note 1 of the Notes on Dispensations from Rule 9 of the Code) or a reverse takeover; or

• there is a material change of circumstances.

Enquiries

Rox Conduit Limited 

Arne Frandsen                                   +27 79528 2407

Investec Investment Banking

Gerard Kisbey-Green / Avital Lobel   +44 207597 4000

College Hill 

Johannes van Niekerk                        +27 82921 9110