Exercise of warrants

10 April 2008: Southern Bear plc ("Southern Bear" or the "Company") announces today that following an exercise of warrants at 3p, the Company has today issued 77,500 Ordinary Shares.

Application has been made for the admission to trading on AIM of these 77,500 Ordinary Shares with admission expected on 15 April 2008.

Following the issue of these shares the Company will have 274,951,808 Ordinary Shares in issue, with 43,757,500 tradable warrants remaining in existence.

For further information, please contact:

Southern Bear plc
Steven Hancock, Director Tel: +44 (0) 1782 826939

Nominated Adviser:
Grant Thornton Corporate Finance
30 Finsbury Square, London, EC2P 2YU
Gerry Beaney Tel: +44 (0) 20 7383 5100

Nominated Broker:
SVS Securities plc
Peter Manfield Tel: +44 (0) 20 7638 5600

Financial PR:
Bishopsgate Communications
Jenni Herbert Tel: +44 (0) 20 7562 3350