Director Shareholding

Centamin Egypt Limited
18 December 2003


                                                                    Rule 3.19A.2

                                  Appendix 3Y


                      Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as
available. Information and documents given to ASX become ASX's property and may
be made public.
Introduced 30/9/2001.

Name of entity CENTAMIN EGYPT LIMITED
ABN 86 007 700 352

We (the entity) give ASX the following information under listing rule 3.19A.2
and as agent for the director for the purposes of section 205G of the
Corporations Act.

Name of Director                             Colin Cowden

Date of last notice                          09 January 2002

Part 1 - Change of director's relevant interests in securities
In the case of a trust, this includes interests in the trust made available by
the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the
definition of 'notifiable interest of a director' should be disclosed in this
part.

Direct or indirect interest                           Indirect Interest
Nature of indirect interest                           Black Cat Holdings Pty Ltd
                                                      (Mr Cowden owns 50% of the
                                                      shares)
(including registered holder)
Note: Provide details of the circumstances giving
rise to the relevant interest.
Date of change                                        15 December 2003
No. of securities held prior to change                Nil
Class                                                 Unquoted Options
Number
acquired                                                               250,000
Number disposed                                       Nil
Value/Consideration                                   Nil
Note: If consideration is non-cash, provide details
and estimated valuation
No. of securities held after change                   Black Cat Holdings Pty
                                                      (Mr Cowden owns 50% of the
                                                      shares)
                                                      100,597 Ordinary Fully
                                                      Paid Shares
                                                      250,000 Unquoted Options
                                                      Mr C N Cowden
                                                      92,833 Ordinary Fully Paid
                                                      Shares
                                                      Cowden Limited
                                                      (Mr Cowden owns 33.08% of
                                                      the shares)
                                                      29,596 Ordinary Fully Paid
                                                      Shares
Nature of change                                      Issued under Employee
                                                      Option Plan 2002
Example: on-market trade, off-market trade, exercise
of options, issue of securities under dividend
reinvestment plan, participation in buy-back

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of
the definition of 'notifiable interest of a director' should be disclosed in
this part.

Detail of contract
Nature of interest
Name of registered holder
(if issued securities)
Date of change
No. and class of securities to which interest related prior to change
Note: Details are only required for a contract in relation to which the interest
has changed
Interest acquired
Interest disposed
Value/Consideration
Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change




                      This information is provided by RNS
            The company news service from the London Stock Exchange
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