Placing

14th Mar 2007 12:15

Centamin Egypt Limited14 March 2007 Centamin Egypt Limited ("Centamin" or the "Company") C$140 million Placing Completed - TSX Listing Underway Centamin Egypt Limited (AIM:CEY, ASX:CNT) is pleased to announce that further tothe filing of a preliminary prospectus in Canada on March 6, 2007, the Companyhas priced and allocated an offering of 163,622,198 ordinary shares (the"Ordinary Shares") at C$0.86 per Ordinary Share (the "Offer Price") for grossproceeds of approximately C$140,715,090 (the "Offering"). The Offering will beplaced primarily with purchasers in Canada, the United States, and the UnitedKingdom. Based on the Bank of Canada noon exchange rate on the day of pricing,this implies pricing of approximately 38p or A$0.94, and gross proceeds ofapproximately GBP 62,382,599 or A$153,602,325. Westwind Partners Inc acted as lead agent (the "Agent") for the Offering. TheAgent has been granted an over-allotment option for a period of 30 daysfollowing the closing of the Offering to sell additional Ordinary Shares at theOffering Price up to 7.5% of the Offering. Evolution Securities Limited acted assub agent in the UK. The Company will close the Offering in two tranches. It is expected that theclosing of the first tranche of the Offering will take place on or about March29, 2007 following the filing of the final prospectus and listing of the Companyon the Toronto Stock Exchange ("TSX"). The subsequent tranche is expected toclose on or about April 11, 2007 or as soon as practicable following a meetingof shareholders to be held on April 10, 2007 to approve the issuance of 100million of the Ordinary Shares under the Offering. The proceeds are to be used for partial funding of the development of the Sukariproject, drilling to test for extensions to resources at the Sukari project,regional exploration programs, working capital, general corporate purposes, andexpenses of the Offering. As a result of this raising, the Company has nowsecured the equity component of the project finance required to bring the Sukariproject to production. The process of securing the debt component of therequired project finance is underway. The Board of Directors are extremely pleased with the strong interest shown inthis capital raising by both existing shareholders and new investors, and arelooking forward to developing Egypt's first modern gold mine following thissuccessful funding milestone. Exploration is ongoing with 10 rigs on sitecontinuing to build on the Company's already substantial resource and reservebase. For Centamin Egypt Limited Josef El-RaghyManaging Director/CEOMarch 14, 2007 For more information please contact: Centamin Egypt Limited Bishopsgate Communications Ltd Evolution SecuritiesPh: + 61 (8) 9316 2640 + 44 (0) 20 7562 3350 + 44 (0) 20 7071 4300Josef El-Raghy Maxine Barnes / Nick Rome Frank Moxon / Simon Leatherswww.centamin.com www.bishopsgatecommunications.com www.evosecurities.com This information is provided by RNS The company news service from the London Stock Exchange

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Centamin PLC