Soros Fund Management LLC announces increase in holdings in Marengo Mining Limited

    NEW YORK, Sept. 1 /CNW/ - Soros Fund Management LLC ("SFM") has acquired
control and direction over, as adviser to Quantum Partners LDC ("Quantum"),
87,662,878 ordinary shares (the "Shares") in the capital of Marengo Mining
Limited ("Marengo"), representing 19.9% of the issued and outstanding shares
of Marengo following the acquisition. Quantum acquired the Shares through a
previously announced public offering through which Marengo offered 172,500,000
ordinary shares at a price of $0.086 per Share.
    The Shares were acquired by Quantum for long-term investment purposes.
Quantum may from time to time, depending on market and other conditions,
increase or decrease such holdings of Shares or other securities of Marengo.

For further information:

For further information: or to obtain a copy of the joint early warning
report of Soros and Quantum, please contact: Soros Fund Management LLC, 888
Seventh Ave., New York, New York, 10016, USA, (212) 262-6300; Attention:
Michael Vachon, Email:

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