Weatherly International Plc Regulatory News (WTI)

Weatherly International plc

('Weatherly' or the 'Company')

AGM Statement

Weatherly is to hold its Annual General Meeting ('AGM') at 2.30pm today.

As previously announced on 2 November 2010, Dr Wolf Martinick, will stand down as Chairman immediately prior to the commencement of the AGM and will continue to serve as a non-executive director of the Company. John Bryant will assume the role of Chairman from the commencement of the AGM, with Alan Stephens assuming the role of Senior Independent Director.

John Bryant, will make the following statement to shareholders at that meeting:

"I am delighted to welcome you to the 2010 Annual General Meeting of Weatherly International Plc and firstly I offer the apologies of Dr Martinick our departing chairman who cannot be with us today.

In my new role as Chairman of your Company, I should first like to thank my predecessor, Dr Wolf Martinick for his dedication and hard work as Chairman over the past 5 years - initially on setting up the Company and then steering us through some difficult times, most notably the past two years when the company was severely tested in very challenging circumstances, but under his stewardship we pulled through. I would draw your attention to Dr Martinick's letter that accompanied the Notice for the AGM and re-iterate his positive message that today the Company is here - revitalised, refocused and positioned for growth with the following exciting objectives:

·; With copper prices currently around US$9,000 per tonne we are on target for the return to production in the first quarter of 2011 when our central operations are expected to produce 4,500 tonnes to 5,000 tonnes of copper by the end of the year and 7,000 tonnes of copper on average thereafter.

·; Tschudi is progressing well and should advance the Company towards realising its group objective of an annual production of 20,000 tonnes of copper.

·; A number of other development and exploration opportunities that will enhance our growth profile

Having just completed a placement to accelerate the development of our company, we have refreshed our shareholder base and we are pleased to welcome new shareholders - Gartmore, Blackrock and Threadneedle amongst others to our register and we look forward to their long term support.

I am also pleased to note that senior management, both in London and Namibia, participated strongly in the placement clearly demonstrating their commitment to the company's future.

Having served as a director of the company for the last five years I have seen the exciting times that the company has experienced both with rising and falling copper prices but could not be taking up the chairmanship at a more exciting time and I look forward to working with you all to realise Weatherly's true potential."

 ENDS

For further information, please contact:

Rod Webster, Chief Executive Officer, Weatherly International Plc

+44 (0) 20 7917 2989

Samantha Harrison / Jen Boorer, Ambrian Partners Limited

+44 (0) 20 7634 4700

Carina Corbett, 4C Communications (Investor Relations)

+44 (0) 20 7559 6715