Release: Herald Resources confirms approaches and re-iterates ?no action? recommendation on Bumi bid

(20 December 2007)--Following the $2.25 per share takeover offer for Herald from a company controlled by PT Bumi Resources Tbk, Herald confirms that it has received approaches from a number of parties.

Herald is currently holding discussions with those parties. Those discussions are confidential.

Herald will report any material developments to shareholders and the market in accordance with the Listing Rules.

Herald also notes that PT Bumi lodged a Supplementary Bidders Statement yesterday. The Board of Herald re-iterates its advice to Herald shareholders that they TAKE NO ACTION in relation to the PT Bumi takeover offer until the Board has an opportunity to fully consider the offer and make a formal recommendation to shareholders. (end of release)