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Fri 23 Sep 2005, 9:49 NOTIFICATION OF INTEREST RATE
Palabora Mining Company Limited - Notification Of Interest Rate                 
PALABORA MINING COMPANY LIMITED                                                 
(Incorporated in the Republic of South Africa)                                  
Registration number 1956/002134/06                                              
JSE code: PAMD; ISIN: ZAE000048633                                              
(`Palabora` or `the company`)                                                   
NOTIFICATION OF INTEREST RATE                                                   
Debenture holders are advised that the interest rate in respect of the interest 
period from 19 September 2005 to but excluding 20 March 2006 in respect of the  
849 465 floating rate partially subordinated unsecured redeemable convertible   
debenture will be 12,096% determined in accordance with the terms and conditions
of the convertible debentures.                                                  
Phalaborwa                                                                      
23 September 2005                                                               
Sponsor:                                                                        
Barnard Jacobs Mellet Corporate Finance (Pty) Ltd                               
Date: 23/09/2005 09:44:09 AM           
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