Tiger Resource Finance Plc

Anybody know whether TIR were involved in the African Eagle placing today?

RNS Number:6514G African Eagle Resources PLC 21 December 2004

AFRICAN EAGLE COMPLETES PLACING

African Eagle (Ticker: AFE) announces that it has completed a placing of 4,576,817 shares at a price of 22p per share, raising just over #1 million. The placing is conditional, inter alia, on the shares being admitted to trading on AIM. The funds will be used principally to fast-track exploration at African Eagle's promising new Igurubi gold project in Tanzania and Mkushi copper project in Zambia.

Out of the total placing, 1,500,000 shares were placed with the JP Morgan Fleming Commodity Share Fund, which the Company believes brings the total number of its shares held by JPMF to 5,950,000 or 6.41% of the new total of shares in issue.

In addition, 1,000,000 shares were placed with funds managed by RAB Capital, which the Company believes brings the total number of its shares held by RAB funds to 25,605,312 or 27.57% of the new total of shares in issue.

African Eagle is also pleased to note that 1,363,636 shares were placed with Cornhill Insurance, bringing a significant new institution onto the Company's register of shareholders.

African Eagle also announces that the holders of 440,000 warrants have exercised at a price of 6p per share; the holders of 25,000 options have exercised at a price of 8p per share; the holders of 55,000 options have exercised at a price of 11p per share and the holders of 20,000 options have exercised at a price of 16p per share.

These allotments bring the total number of shares in issue to 92,874,654. The Company has made application for the new shares to be admitted to trading on AIM.

Mark Parker Company Secretary African Eagle Resources plc

21 December 2004