Anaconda Nickel Limited 19 - Review Panel Affirms Anaconda 15 Decision in relation to Anaconda Nickel Limited And, In Addition, Requires Disposal of On-Market Acquisitions by Sherritt

The Panel advises that the Panel reviewing the decision in the Anaconda 15 proceedings (Anaconda 19 proceedings) has today affirmed the majority of the decision made by the Anaconda 15 Panel to decline the application received from MatlinPatterson Global Opportunities Partners LP (MP Global) on 20 February 2003 in relation to the affairs of Anaconda Nickel Limited (Anaconda). The Anaconda 19 application to the Panel was made on 11 April 2003.