Agreement on Credit Facility

24 Sep 2007 07:02

Anglo Asian Mining PLC24 September 2007 24 September 2007 ANGLO ASIAN MINING PLC ('Anglo Asian' or 'the Company') AGREEMENT ON CREDIT FACILITY Anglo Asian Mining PLC (AIM: AAZ) the gold and copper development company withprojects in Azerbaijan is pleased to announce that the International Bank ofAzerbaijan ('IBA') has agreed to establish an unsecured US$5 million creditfacility for the Company's operational subsidiary . Funds provided under this credit facility will be available on 1 October 2007and they are being provided to assist in the development of the Company'sGedabek copper and gold project in Western Azerbaijan. The credit facility isrepayable after three years and carries an interest rate of up to 15%. The IBA has also confirmed that it is willing to entertain providing furtherloans to advance the development of Gedabek. A full update on the Company's progress on all matters will be provided onFriday 28 September along with the interim results -Ends- For further details, please contact: Anglo Asian Mining PLC Gordon Lewis, Chief Executive +994 12 499 3350 Richard Round, Finance Director +44 1525 211988 Numis Securities Limited John Harrison +44 20 7260 1000 Parkgreen Communications Justine Howarth +44 20 7851 7480 This information is provided by RNS The company news service from the London Stock Exchange