Further re underwriting

Centamin Egypt Limited
06 March 2003



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

                   Further re Underwriting of Listed Options


Further to Centamin's announcement of 3 February 2003, the Company is pleased to
announce that of the remaining 58,808,454 unexercised options, 48,222,119
options have been exercised, leaving a balance of 10,586,335 options
unexercised. This represents an overall option exercise of 91 per cent.


As previously announced, the remaining 10,586,335 options are fully underwritten
by Williams de Broe Plc (London), Argonaut Capital Limited (Perth) and Southern
Cross Equities Limited (Australia).


The Underwriters have been notified accordingly and a further announcement will
be made when the Underwriters' obligations have been fulfilled.


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