21^st May 2008���������������������������������������������������������������������������������� �������

ANGUS & ROSS PLC

(�A&R� or �the Company�)

AIM:   AGU.L

SHORT TERM LOAN FROM CYRUS CAPITAL PARTNERS LP

TO PROVIDE INTERIM FUNDING OF SECURITY BOND TO SUPPORT

ISSUE OF MINING LICENCE FOR THE BLACK ANGEL MINE IN GREENLAND

A&R announces that it is borrowing �800,000 from Cyrus Capital Partners LP (Cyrus).� The loan, which is repayable in three months, will bear interest at 14% per annum and is subject to an arrangement fee of $150,000.

Cyrus holds 37.5 million warrants at an exercise price of 20p, with an expiry date of 10^th July 2010 and is therefore considered to be a related party.

The money will be held in escrow in a deposit account as security for the mine closure bond, which has to be in place before the mining licence can be issued.

Having consulted with the Company�s Nominated Adviser, the directors consider that the terms of the transaction are fair and reasonable insofar as shareholders are concerned.� �