RNS Number : 9002H
  Tanzanite One Limited
  11 November 2008
   

    11 November 2008


    TanzaniteOne Response to the Lapse of Gemfields' Tender Offer

    TanzaniteOne Limited ("TanzaniteOne" or "the Company") (AIM:TNZ) notes today's statement by Gemfields Resources plc ("Gemfields")
(AIM:GEM) that its tender offer for the purchase of up to 30,754,970 of TanzaniteOne common shares has lapsed.

    As outlined in TanzaniteOne's letter to shareholders on 4 November 2008, the Board will be writing to shareholders shortly concerning
the introduction of appropriate takeover protection into its Bye-laws (to ensure that any future offer for control of the Company would have
to treat all TanzaniteOne shareholders equally) and to provide an update on the tsavorite transaction.

    Commenting on today's announcement, Ami Mpungwe, Chairman of TanzaniteOne said "TanzaniteOne has a clear growth strategy, which is
targeting an increase in production to over 3.1 million carats of tanzanite by 2011 and gemstone diversification, with the impending
completion of the tsavorite acquisition. We have an excellent team in place to deliver on this strategy and to fulfil our ultimate ambition
to become the world's largest producer and supplier of premium coloured gemstones."

    For more information, please visit www.tanzaniteone.com or contact:

 Willi Boehm, Company Secretary       Alex Buck, Public Relations
 +61 8 9367 5211                      +44 (0)7932 740 452

 Nick Bias, Investor Relations        Laurence Read, Public Relations
 +44 (0)7887 920 530                  +44 (0)7979 955923


 Nominated Advisor and Joint Broker   Joint Broker
 Evolution Securities                 Ambrian Partners
 Simon Edwards or Neil Elliot         Richard Chase
 +44 (0)20 7071 4300                  +44 (0)20 7634 4700

 Financial Advisor
 Lazard & Co
 Spiro Youakim or Chris Seherr-Thoss
 +44 (0)20 7187 2000


This information is provided by RNS
The company news service from the London Stock Exchange
 
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