Director Shareholding

Centamin Egypt Limited
26 May 2006

                             Centamin Egypt Limited

                      ('Centamin Egypt' or 'the Company')



                  Issue of Equity and director's shareholding







The Company announces that, on 26 May 2006, 250,000 options were exercised under
the Employee Share Option Plan 2002 at an exercise price of A$0.3549 per share
by Mr. Colin N. Cowden, a director of the Company.  Following this exercise, Mr.
Cowden's holdings in the Company's shares are as follows:


Registered holder                                            No. of shares
Black Cat Holdings Pty Ltd*                                        400,597
Mr. C. N. Cowden                                                    92,833
Cowden Limited**                                                    29,596



* Mr. Cowden owns 50% of the shares

** Mr. Cowden owns 33.08% of the shares



Application has been made for the new ordinary shares to be admitted to trading
on the AIM Market of the London Stock Exchange ('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 June 2006.



The total number of ordinary shares in issue following this issue is
578,295,369.




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