Cancelation of options

Centamin Egypt Limited
31 January 2003


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

         LISTED OPTIONS - NOTICE OF CANCELLATION OF TRADING


Further to the announcement released on 23 January 2003 regarding the
underwriting of the exercise of 111,224,446 listed options which are due to
expire at the close of business on 3 March 2003, the Company wishes to advise
that trading in the listed options on the Alternative Investment Market will be
cancelled at the close of business on Friday 21 February 2003.


The options are also listed on the Australian Stock Exchange and under the ASX
rules there is a requirement to suspend the quotation of the options five
business days before they expire. This is to allow for settlement of any
transactions in the options in good time ahead of the expiry date to avoid
purchasers missing the final date for application for conversion.


Trading of the options on the ASX will, therefore, cease at the close of
business on Monday 24 February 2003. To maintain parity, trading of the options
on AIM will cease at the close of business on Friday 21 February 2003, given the
difference in time zones.


Enquiries:

Josef El Raghy                                              Leesa Peters
Centamin Egypt Ltd                                          Capital PR
Tel: + 61 (0) 8 9316 2640/ 0418 333 444                     Tel: [phone]

[e-mail]                                       [e-mail]

Louis Castro
Williams de Broe Plc

Tel: + 44 (0) 20 7588 7511

[e-mail]



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