Investment of Pala Assets Holdings Limited in Winstar Resources Ltd.

    TORONTO, Oct. 23 /CNW/ - Pala Assets Holdings Limited ("PAHL") announced
today that it has acquired, through the facilities of the Toronto Stock
Exchange, ownership of 720,000 common shares of Winstar Resources Ltd.
("Winstar"). This acquisition increases PAHL's ownership position in Winstar
to 6,282,300 common shares representing, to the knowledge of PAHL,
approximately 18.36% of the outstanding common shares of Winstar. PAHL has
purchased these securities for investment purposes and may increase or
decrease the investment in these securities depending upon future market

For further information:

For further information: Further information (including a copy of the
report to be filed with Canadian securities regulators in connection with this
acquisition) can be obtained by contacting: Colin Murray, 011 41 41 560 9070

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