AQUARIUS PLATINUM LIMITED

ASX, LSE & JSE

Aquarius Platinum Limited

(Incorporated in Bermuda)

Registration Number: EC 26290

Share Code JSE: AQPB

Share Code JSE: AQP

ISIN Code: ZAE000134540

("Aquarius" or the "Company")

                                                                 5 October 2009

  NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR  
                    INTO THE UNITED STATES, CANADA OR JAPAN                    

    APPLICABLE INTEREST RATE ON ZAR650 MILLION FLOATING RATE SENIOR SECURED    
                               CONVERTIBLE BONDS                               

Further to the listing by Aquarius of 65,000 floating rate senior secured
convertible bonds ("Bonds") (the "Bond Issue") on the Main Board of the JSE
Limited on 11 May 2009 and pursuant to the requirement for the notification of
the interest rate applicable on the Bonds as contained in paragraph 8.4 of the
Offering Circular for the Bonds, Aquarius hereby announces that the applicable
nominal interest rate on the Bonds for the interest period commencing 31 July
2009 and ending 30 October 2009 will be 10.675%, being the sum of the 3 month
JIBAR as at 11h00 on Friday 31 July 2009 and the margin on the Bonds which is
set at 3%.

Pursuant to the previous announcement released on SENS on 15 May 2009, an
amount of R244.28 per Bond was compounded on 31 July 2009 ("Compounded
Interest"). The interest amount per Bond for the period 31 July 2009 to 30
October 2009 is R272.64, being calculated by applying the above interest rate
to the sum of the principal amount on a Bond and the Compounded Interest, for
the number of days in this interest period. The total interest amount per Bond
will therefore be R516.92, which will be paid on the relevant Interest Payment
Date, being 30 October 2009.

The Last Day to Trade the Bonds to be eligible for the interest amount to be
paid on 30 October will be Friday 16 October 2009.

For the avoidance of doubt, the price at which the Bonds are quoted on the Main
Board of the JSE Limited is a price which is not adjusted for accrued interest.

Contacts

In Australia:

Willi Boehm
+61 (0) 8 9367 5211

In the United Kingdom:

Stuart Murray

+ 27 (0) 11 656 1140

In South Africa:

Charmane Russell

+27 (0) 11 880 3924

Sponsor

RAND MERCHANT BANK (A division of FirstRand Bank Limited)

REGISTERED OFFICE

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

Email: info@aquariusplatinum.com

Telephone: +61 8 9367 5211