Result of EGM

RNS Number:3001I
Financial Development Corp PLC
07 February 2005


Immediate Release                                                7 February 2005


             Financial Development Corporation plc ("the Company")


                    Result of Extraordinary General Meeting


The Company announces that at the Extraordinary General Meeting of the Company
held at 12 Noon today all the resolutions were duly passed including, inter
alia, the acquisition of GGPC Gabon (EOV) Limited, entering into the Chad and
Congo options, the change of name to FirstAfrica Oil plc and the waiver of the
obligation on the Concert Party (or any member thereof) (as defined in the AIM
admission document) to make a mandatory offer for the Company.


It is expected that the admission to trading on AIM of the 1,122,481,110 new
ordinary shares of 0.1p each in the Company ("Ordinary Shares") relating, inter
alia, to the acquisition of GGPC Gabon (EOV) Limited and the Chad and Congo
options, will become effective on 8 February 2005 ("Admission").


The Company is in the process of changing its name to FirstAfrica Oil plc.


Following Admission the Company will have a total of 1,483,846,933 Ordinary
Shares in issue.


7 February 2005


Enquiries:

FirstAfrica Oil plc
Robert Rainey (Chief Financial Officer)     London Tel:  020 7908 6300
                                            South Africa Tel: +27 11 372 3312

Buchanan Communications
Bobby Morse                                 Tel:  020 7466 5000

Evolution Securities Limited                Tel:  020 7071 4300
Steve Roberts
Tim Redfern







                      This information is provided by RNS
            The company news service from the London Stock Exchange

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