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Fri 21 Jan 2005, 8:12 FURTHER ANNOUNCEMENT TO THE TRADING STATEMENT
PALABORA MINING COMPANY LIMITED - FURTHER ANNOUNCEMENT TO THE TRADING STATEMENT 
DATED 19 JANUARY 2005                                                           
PALABORA MINING COMPANY LIMITED                                                 
(Incorporated in the Republic of South Africa)                                  
Registration number - 1956/002134/06                                            
Share Code: PAM        ISIN: ZAE000005245                                       
(`Palabora` or `the Company`)                                                   
FURTHER ANNOUNCEMENT TO THE TRADING STATEMENT DATED 19 JANUARY 2005             
Shareholders are further advised that earnings, as referred to in the Trading   
Statement dated 19 January 2005, are estimated after the inclusion of (a) income
accruing to the Company from the distribution of a pension fund surplus, as     
referred to in the Business Update and Cautionary Announcement dated 22 December
2004 and the 2003 Annual Report; and (b) an accounting adjustment to provisions 
held for Post Retirement Medical Benefits following an actuarial valuation.     
These items will be excluded from headline earnings.                            
For further information please contact the Managing Director, Keith Marshall, on
+27  (0) 15 780 2802.                                                           
Phalaborwa                                                                      
20 January 2005                                                                 
Sponsor:                                                                        
Barnard Jacobs Mellet Corporate Finance (Pty) Limited                           
Date: 21/01/2005 07:00:16 AM               
Produced by the JSE SENS Department                                             
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