Issue of Equity

Centamin Egypt Limited
26 October 2006


                             Centamin Egypt Limited

                         ('Centamin' or 'the Company')

                                Issue of Equity


The Company announces that, following the exercise of options issued under the
Employee Share Option Plan 2002, 100,000 ordinary shares have been issued and
allotted today at an exercise price of A$0.2310 per share.

A further 250,000 options have been issued and allotted today following the
exercise of options issued under the Employee Share Option Plan 2002 at an
exercise price of A$0.3549 per share by Mr Gordon Brian Speechly, a director of
the Company. Following this exercise, Mr Speechly's holding in the Company's
shares is 250,000 fully paid ordinary shares, representing approximately 0.04
per cent. of the issued share capital.

Application has been made for the new ordinary shares to be admitted to trading
on AIM. The new ordinary shares will rank pari passu with the existing ordinary
shares in the Company and trading of these shares on AIM is expected to commence
on 1 November 2006.

The total number of Ordinary Shares on issue following this issue is
579,105,369.


26 October 2006



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