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Xstrata's Acquisition of Jubilee Mines OK'ed by Authorities

Xstrata plc ("Xstrata") has received advice from Australia’s Federal Treasurer that there are no objections to Xstrata’s proposed acquisition of Jubilee Mines NL (“Jubilee”) in terms of Australia’s foreign investment policy. Xstrata’s offer for Jubilee is now free to proceed with no further regulatory approvals required.

Xstrata announced its all-cash offer to acquire all of the issued and outstanding shares of Jubilee by way of a recommended take-over bid on 29 October 2007. Xstrata expects to dispatch its Bidder’s Statement to all Jubilee shareholders next week.

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