Gladstone Pacific Nickel Limited (ACN 104 261 887) - Additional Listing

    GLADSTONE, QUEENSLAND, Dec. 13 /CNW/ - The Directors of Gladstone Pacific
Nickel Limited ("Gladstone" or "the Company") advise that they have allotted
2,019,070 Ordinary Shares in the Company to Special Warrant Holders, in
accordance with the terms of the Special Warrants. This follows the automatic
exercise of Special Warrants by investors who participated in the
US$40 million placing announced on 7 June 2007. Ordinary Shares issued in
relation to the exercise of Special Warrants are freely tradeable on both the
AIM and Toronto Stock exchanges. The Company has now concluded the issue of
all Ordinary Shares to be issued in accordance with the terms of the Special
Warrants. There are no outstanding Special Warrants at this time.
    The new Shares rank pari passu with the Company's issued Ordinary Shares.
Application has been made for 2,019,070 ordinary shares to be admitted to AIM
and the Toronto Stock exchange and dealing are expected to commence on
19 December 2007.
    As a result of this allotment the Company will have 41,909,716 Ordinary
Shares in issue.

    Note to Editors:
    Gladstone Pacific Nickel Limited (GPNL) is an Australian mining
development company presently undertaking an Integrated Definitive Feasibility
Study (IDFS) for the Gladstone Nickel Project (GNP). The company's vision is
to build a major long-life nickel cobalt refinery at the deepwater Port of
Gladstone, in Central Queensland, Australia, treating abundant high grade
nickel laterite ores from New Caledonia and other south-west Pacific islands,
underpinned by beneficiated ores from its own Marlborough deposits. The
Project has the potential to be one of the largest of its type in the world
producing some 126,000 tpa nickel (8 -10% of global nickel demand) and 10,400
tpa of cobalt metal from its first two stages.

For further information:

For further information: Julien McInally - Company Secretary, Gladstone
Pacific Nickel Ltd: Tel: +61 7 3211 8899, Peter Ward, Insinger de Beaufort:
Tel: 0207 190 7000, Simon Rothschild or Keith Irons, Bankside Consultants:
Tel: 0207 367 8888

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Gladstone Pacific Nickel Ltd.

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