//ALEX STEWART GROUP - ANNOUNCEMENT

R.A.S. (Rotterdam Analyse Services BV) - Acquisition

I am very pleased to announce that on 27th February 2008, Alex Stewart BV completed the acquisition of RAS BV, purchased from Studd Holding BV. This further strengthens our analytical capabilities in Holland and provides us with significant expansion and service enhancement opportunities. RAS is being fully merged into Alex Stewart BV and we welcome the new members of staff into our Group.

Alex Stewart Group is committed to further investing in its laboratory infrastructure and developing its two main centres of analytical and technical excellence: Alex Stewart BV in Rotterdam for Ferro Alloys and Solid Fuels, and Alex Stewart Assayers Ltd. in Knowsley for Concentrates and Precious Metals.

About Alex Stewart Group: The Alex Stewart Group is a leading global provider of Inspection and Analysis services to the Metals, Minerals, Ores, Solid Fuels and Recycling Scrap industries, and Geochemical services to the Mining and Exploration Industry.

14th March 2008

John Notman-Watt
Managing Director
Alex Stewart Group Ltd.