Further Update

White Nile Limited
27 May 2005

               WHITE NILE LIMITED ('White Nile' or 'the Company')



Further to an announcement earlier today with respect to a proposed placing, in
order to assist with the liquidity of the market, the Company has agreed that
those who have given irrevocable undertakings in favour of the resolution to be
put to shareholders on 16 June 2005 should be allowed to sell up to 35% of their
holding in the Company.   This does not apply to Directors or others who but for
the irrevocable undertakings would be subject to lock-in arrangements.



Consideration will be given as to when to complete the placing at the most
appropriate time but this will not be before the Extraordinary General Meeting.



It is anticipated that trading in the Company's shares will be restored next
week.


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