Director Shareholding

Centamin Egypt Limited
27 August 2003



              Centamin Egypt Limited ('Centamin' or the 'Company')

                               Director's Dealing



The Company wishes to announce the following transaction in its shares by Mr
Sami El-Raghy, a director of the Company.

As part of the share round-up in which the Company sold unmarketable parcels of
Centamin's ordinary shares on behalf of its shareholders, as announced on 28
July 2003, a total of 467 ordinary shares in the Company were sold on behalf of
Mr El-Raghy at a price of AS$0.1897 per share. Mr El-Raghy held 233 of these
shares directly and the balance of 234 shares were held by his wife, Mrs Mair
El-Raghy.

Due to the change of trustee of the Stirling Super Fund, Mr El-Raghy was deemed
to have disposed of an indirect interest of 1,510,000 shares. Mr El-Raghy's
interest in these shares was as trustee only. These ordinary shares held by Mr
El-Raghy referred to above as indirect, were registered in the name of El-Raghy
Kriewaldt Pty Ltd as trustee for The Stirling Superfund. Sami El-Raghy owns 50
per cent of the share capital of El-Raghy Kriewaldt Pty Ltd.

Following this transaction, Mr El-Raghy is interested in 78,235,754 ordinary
shares in Centamin. He also has a direct interest in 128 unlisted options with
an expiry date of 9 November 2003, and an indirect interest in 49,999,360
unlisted options with an expiry date of 9 November 2003, all exercisable at
AS$0.20.






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