RNS Number:5087S
Hereward Ventures PLC
26 November 2003


26 November 2003


                             Hereward Ventures plc



  Hereward to Acquire Gold Fields Interest in Bulgarian Joint Venture Permits


      Targets with 500,000 Ounce Plus Gold Potential at Drill Ready Stage



Hereward Ventures plc ("the Company" or "Hereward") announces that it has
reached outline agreement with Gold Fields Exploration B.V. ("Gold Fields") on
the terms whereby Hereward will purchase Gold Fields' participating interest in
the Bulgarian joint venture covering the Gornoseltsi and Rosino permit areas.
Formal contracts are expected to be signed in due course.


Under the proposed terms, Hereward will issue to Gold Fields 1.5 million
ordinary shares at a price of 7 pence each and 3.5 million warrants to subscribe
for new ordinary shares at a price of 10 pence each, exercisable within three
years from completion of the transaction. This transaction will give Hereward a
100% interest in the permit areas situated within the Southern Rhodopes.


In addition, it is proposed that Hereward will purchase from Gold Fields two
independent reports compiled by SRK Australia during 2003 on behalf of Gold
Fields. These reports confirm and enhance Hereward's knowledge base of the
permit areas and specifically highlight several targets, now at a drill ready
stage, with the potential to host high-grade gold deposits in excess of 500,000
ounces. It is proposed that Hereward will issue to Gold Fields 400,000 ordinary
shares at a price of 7 pence each for the acquisition of this data.


On completion, Gold Fields will become Hereward's single largest shareholder
holding approximately 7% of the issued share capital of the Company. Gold Fields
will undertake to retain its shareholding in Hereward for a minimum of 12 months
and, following this period, issue advance notice in writing to the Company of
any intention to dispose of any of its holding.


The directors of Hereward believe that regaining 100% control of its assets will
enable corporate flexibility, offering considerable benefits to the Company and
its shareholders.






Enquiries:
David Bramhill                                  Leesa Peters
Hereward Ventures plc                           Conduit PR
+44 (0) 117 957 3666                            +44 (0)20 7936 9095
+44 (0) 7801 540 358                            +44 (0)781 215 9885
office@hereward.com                             leesa@conduitpr.com

Bill Staple / Tim Feather
Brown, Shipley & Co. Limited
+44 (0) 20 7282 3270
tim.feather@brownshipley.co.uk


Please note: more background information on Hereward Ventures plc can be
obtained by visiting www.hereward.com










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