Anatolia Minerals Development Ltd fka ANO.U

[Ed Monton]

Anatolia Announces Closing Of First Tranche Of Private Placement
2/20/03

Anatolia upgraded to TSX Venture Exchange Tier 1 with new symbol: ANO.U

Anatolia Minerals Development Limited ("Anatolia") announced today the closing of the first tranche of a private placement offering for gross proceeds of US$2,925,000. Anatolia issued 3,250,000 units at a price of US$0.90 per unit, with each unit consisting of one common share and one common share purchase warrant. Each warrant entitles the holder to subscribe for an additional common share at an exercise price of US$1.30 per warrant at any time up to May 20, 2004. The units are subject to a four-month hold period expiring on June 21, 2003.

Haywood Securities Inc. and Dundee Securities Corporation acted as agents for the offering. The agents received a commission of US$204,750 in connection with the offering. In addition, the agents received an aggregate of 325,000 broker warrants in connection with the offering. Each broker warrant entitles the holder to subscribe for one common share of Anatolia at an exercise price of US$0.90 per broker warrant at any time up to May 20, 2004.

Anatolia expects to complete the second tranche of the private placement, comprising 350,000 units, before March 29, 2003. The terms and conditions of the units comprising the second tranche will be the same as the terms and conditions of the units comprising this first tranche of the private placement.

Anatolia also announced today that it has met the requirements for a Tier 1 company on the TSX Venture Exchange (the "Exchange"), and that, effective today, its classification on the Exchange has changed from Tier 3 to Tier 1. Concurrent with the upgrade to Tier 1, the trading symbol for Anatolia has changed from YMC.U to ANO.U.

Anatolia now has 29.3 million shares issued and outstanding, 37.9 million fully diluted.

Anatolia Minerals Development Limited
R. C. Moores
President
[phone]
[phone] (FAX)
or
George Duggan
Investor Relations
[phone]
[phone] (FAX)
www.anatolia-minerals.com

NEWS RELEASE TRANSMITTED BY CCNMatthews The Exchange has not reviewed and does not accept responsibility for the adequacy nor accuracy of this release. Anatolia trades on the Exchange as ANO.U.

Copyright (C) 2003, CCNMatthews. All rights reserved.