Proposed Placing

White Nile Limited
27 May 2005


               WHITE NILE LIMITED ('White Nile' or 'the Company')

The Company has noted the volatility of its shares and is aware of the lack of
liquidity in the market.

White Nile stated in its Admission Document dated 19 May 2005 that 'it is
anticipated that a fundraising exercise will need to be undertaken to raise
money to finance the development and production of the Concession'.

The Company announces that in order to improve the liquidity in the market for
the Company's shares and at the same time raise further funds which will be
required in the future it has almost completed arrangements for a placing of new
shares.

White Nile expects to make a full announcement with regard to the placing early
next week.


                      This information is provided by RNS
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