GEM Gemfields Group Limited

    RNS Number : 4836J
  Gemfields Resources PLC
  03 December 2008
   


    Gemfields Resources Plc ("Gemfields")


    South African Exchange Controls relating to the TanzaniteOne Limited B Share Scheme


    03 December 2008, Gemfields Resources Plc ("Gemfields")(AIM:GEM) has noted the news release on the Amari Resources' website in relation
to the South African Reserve Bank letter dated 27 November 2008 addressed to Amarivest Limited ("Amarivest") with respect to the issue by
TanzaniteOne Limited ("T1") of 83,739,976 nil paid voting and unlisted B shares.

    As a fellow shareholder of T1, Gemfields shares the concerns raised by Amarivest and confirms that it is, together with Amarivest and
Pallinghurst Resources (Guernsey) Ltd, considering the requisition of a T1 Special General Meeting for the purpose of considering the
removal of Mr. Edward Nealon, Mr Nicholas Sibley and Mr Bernard Olivier from their office as directors of T1 and the re-appointment of Mr
Mark Summers and Mr Ian Harebottle as directors of T1.



    Enquiries:

    Richard James, CFO  Tel: +44 (0)20 7016 9416  
    Gemfields Resources Plc

    Gerard Kisbey-Green/Paul Gray/Avital Lobel     Tel: +44 (0)20 7597 4000 
    Investec Bank (UK) Limited  
    Financial Adviser to Gemfields

    Mike Jones/Tarica Mpinga Tel: +44 (0)20 7050 6500
    Canaccord Adams Ltd
    Nominated Adviser and Joint Broker to Gemfields

    Gemfields Press Enquiries 
    Charlie Geller/Ed Portman  Tel: +44 (0)20 7429 6666
    Conduit PR




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