Issue of Equity

Centamin Egypt Limited
23 February 2005


                             Centamin Egypt Limited

                                Issue of Equity

Centamin Egypt Limited ('the Company') announces that on 21 February 2005 it
issued and allotted 50,000 Ordinary Shares following an exercise of options
issued under the Employee Share Option Plan 2002. The exercise price for these
options was A$0.2310 per share. Another 20,000 Ordinary Shares were issued and
allotted on 22 February 2005 following a second exercise of options under the
Employee Share Option Plan 2002 with an exercise price of A$0.2310 per share.

Application will be 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 March 2005.

The total number of Ordinary Shares in issue following these issues is
501,980,369.




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