Directorate Change

Centamin Egypt Limited
23 August 2002

23 August 2002


              CENTAMIN EGYPT LIMITED ('CENTAMIN' OR THE 'COMPANY')


                  APPOINTMENT OF DIRECTOR - MR JOSEF EL-RAGHY


The Directors of Centamin are delighted to announce the appointment of Mr Josef
El-Raghy as Managing Director of the Company effective 23 August 2002.


Mr El-Raghy, age 31, holds a Bachelor of Commerce from the University of Western
Australia and has a ten year career in stock broking. He was formerly a director
of both CIBC Wood Gundy and Paterson Ord Minnett.


Speaking today, Sami El-Raghy, who will remain as Chairman of the Company, said
'Josef has had a long association with the development of Centamin. His
expertise in the international capital markets has greatly assisted Centamin in
its fund raising activities and his appointment bodes well for the continued
growth of the company and its projects.'


The appointment follows Centamin's recent announcement of significant results
from drilling its Sukari Project in Egypt, with all completed holes intersecting
mineralisation. The Company has implemented an aggressive drilling campaign to
add to the 1.73 million ounces resource calculated in September 2001. An upgrade
is expected to be carried out after a further 12 000m of diamond and RC drilling
is completed this year.


'This appointment compliments the Company's expansion as it progresses towards
bringing the large Sukari operation into production and positions itself to
commence exploration and development of the many other projects contained within
the exploitation lease' added Sami El-Raghy.


There are no further matters to be disclosed under Schedule 2 paragraph (f) of
the AIM Rules.





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