(INCORPORATED IN LUXEMBOURG - R.C. NUMBER B39773)
Registered Office
6 rue Adolphe Fischer,
L-1520, Luxembourg 27th March 2001
CAUTIONARY ANNOUNCEMENT
The attention of shareholders is drawn to the following announcement recently
released by the company's subsidiary, Falcon Gold Zimbabwe Limited.
"FALCON GOLD ZIMBABWE LIMITED
NOTICE TO SHAREHOLDERS
CLOSURE OF DALNY, VENICE & GOLDEN QUARRY MINES
As foreshadowed in the Chairman's additional remarks at the Annual General
Meeting on the 13th February 2001, with respect to the imminent closure of our
mines, the Directors have had no option but to suspend mining operations and
gold production with immediate effect. The losses currently being incurred can
no longer be sustained. Therefore, until there is a significant devaluation or
a marked increase in the international gold price, consideration cannot be
given to operations being recommenced.
The Directors will of course monitor the situation closely with a view to
resuming operations once it becomes evident that such operations can be
conducted on a viable basis.
Shareholders will be kept informed of any material developments."
In the light of the above, shareholders in Falcon Investment Holdings S.A. are
advised to exercise caution and consult their professional advisors when
dealing in these shares.
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