Banro Receives Invitation To Implement Settlement Agreement

February 11th, 2002

Toronto, Ontario — February 11, 2002 - Banro Corporation (the “Company”) announces receipt of a formal invitation from the Democratic Republic of the Congo (the “DRC”) to finalize implementation of the Settlement Agreement reached between the Company and the DRC in December 2001. The Agreement centers on the return of the Company’s assets and settlement of all claims. Management will meet with officials from the Ministry of Mines and Hydrocarbons in the DRC shortly.

Accordingly, legal proceedings filed against the DRC have been stayed pending implementation of the Settlement Agreement.

For further information please contact:
Arnold Kondrat or Cliff Jones
Exec VP Investor Relations
Tel: (416) 366-2221
Bernard van Rooyen
Director
Johannesburg, South Africa
Tel: (011) 27 11 476 5031

The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.
.