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                       Gordon Brian Speechly

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             Direct Interest

Nature of indirect interest
(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

Value/Consideration                    Nil

Note: If consideration is non-cash, provide details and
estimated valuation

No. of securities held after change    250,000

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




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