Investments of Pala Assets Holdings Limited in Winstar Resources Ltd.

    TORONTO, July 14 /CNW/ - Pala Assets Holdings Limited ("PAHL") announced
today that it has acquired through the facilities of The Toronto Stock
Exchange ownership of 1,000,000 common shares of Winstar Resources Ltd.
("Winstar"). This acquisition increases its share ownership in Winstar to
5,562,300 common shares representing, to the knowledge of PAHL, 16.32% of the
issued and outstanding shares of Winstar. PAHL has acquired the shares for
investment purposes only. PAHL may acquire additional securities if they
become available at prices that are attractive to PAHL.

For further information:

For further information: or to obtain a copy of the report please
contact Jan Castro at 011 41 41 560 9070

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