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REGISTRATION STATEMENT FILED FOR OFFERING OF 9.65 MILLION SHARES OF NEWMONT MINING

 GEORGE TOWN, Grand Cayman, June 30 /PRNewswire/ -- General Oriental Investments Ltd. ("General Oriental") and the RIT Capital Partners Group ("RIT") announced today that a registration statement has been filed with the Securities and Exchange Commission for a public offering of 9.65 million shares of the common stock of Newmont Mining Corp. (NYSE: NEM) held by the General Oriental Group and RIT; General Oriental will sell 8.49 million and RIT 1.16 million shares. Salomon Brothers Inc., Lazard Freres and Co., Smith Barney Harris Upham and Co. Inc. are managers of the underwriting.
 In October 1990, when General Oriental agreed to acquire its interest in Newmont it was announced that it was the company's ultimate intention to reduce its holding in Newmont so as to diversify its investments. That intention has been confirmed regularly in the company's annual reports as well as in its public filings.
 Also in October 1990, it was announced that Sir James Goldsmith, founder and chairman of General Oriental, had decided to retire from active business management so as to concentrate on other areas of interest, notably that of chief executive officer of the Goldsmith Charitable Foundation, a foundation involved in public interest and environmental concerns. Nonetheless, General Oriental and its chairman intended to remain general investors albeit more passive and diversified.
 The present filing is the consequence of this policy.
 Sir James Goldsmith said today that General Oriental intends to retain as an investment the 3.4 million shares of Newmont that it will hold after completion of this sale. He also confirmed that it is his intention to remain on the Newmont board.
 So as to replace part of the interest in gold relinquished as a result of the disposal of shares in Newmont, it is General Oriental's intention to invest the majority of the proceeds of this sale in physical gold and to continue to hold the major part of its treasury also in physical gold.
 The Vancouver Stock Exchange has neither approved nor disapproved the contents of this press release which has been prepared by the company.
 -0- 6/30/93
 /CONTACT: James M. Goldsmith of General Oriental, Telex: CP 293-4212/
 (NEM)


CO: General Oriental Investments Ltd.; RIT Capital Partners Group;
 Newmont Mining Corp. ST: Colorado IN: MNG SU: OFR


MC -- DV001 -- 7096 06/30/93 11:04 EDT
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Publication:PR Newswire
Date:Jun 30, 1993
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