Placing

Centamin Egypt Limited
14 March 2007


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


             C$140 million Placing Completed - TSX Listing Underway


Centamin Egypt Limited (AIM:CEY, ASX:CNT) is pleased to announce that further to
the filing of a preliminary prospectus in Canada on March 6, 2007, the Company
has priced and allocated an offering of 163,622,198 ordinary shares (the
'Ordinary Shares') at C$0.86 per Ordinary Share (the 'Offer Price') for gross
proceeds of approximately C$140,715,090 (the 'Offering'). The Offering will be
placed primarily with purchasers in Canada, the United States, and the United
Kingdom. Based on the Bank of Canada noon exchange rate on the day of pricing,
this implies pricing of approximately 38p or A$0.94, and gross proceeds of
approximately GBP 62,382,599 or A$153,602,325.

Westwind Partners Inc acted as lead agent (the 'Agent') for the Offering. The
Agent has been granted an over-allotment option for a period of 30 days
following the closing of the Offering to sell additional Ordinary Shares at the
Offering Price up to 7.5% of the Offering. Evolution Securities Limited acted as
sub agent in the UK.

The Company will close the Offering in two tranches. It is expected that the
closing of the first tranche of the Offering will take place on or about March
29, 2007 following the filing of the final prospectus and listing of the Company
on the Toronto Stock Exchange ('TSX'). The subsequent tranche is expected to
close on or about April 11, 2007 or as soon as practicable following a meeting
of shareholders to be held on April 10, 2007 to approve the issuance of 100
million of the Ordinary Shares under the Offering.

The proceeds are to be used for partial funding of the development of the Sukari
project, drilling to test for extensions to resources at the Sukari project,
regional exploration programs, working capital, general corporate purposes, and
expenses of the Offering. As a result of this raising, the Company has now
secured the equity component of the project finance required to bring the Sukari
project to production. The process of securing the debt component of the
required project finance is underway.

The Board of Directors are extremely pleased with the strong interest shown in
this capital raising by both existing shareholders and new investors, and are
looking forward to developing Egypt's first modern gold mine following this
successful funding milestone. Exploration is ongoing with 10 rigs on site
continuing to build on the Company's already substantial resource and reserve
base.


For Centamin Egypt Limited


Josef El-Raghy
Managing Director/CEO
March 14, 2007



For more information please contact:

Centamin Egypt Limited  Bishopsgate Communications Ltd     Evolution Securities
Ph: + 61 (8) 9316 2640  + 44 (0) 20 7562 3350              + 44 (0) 20 7071 4300
Josef El-Raghy          Maxine Barnes / Nick Rome          Frank Moxon / Simon Leathers
www.centamin.com        www.bishopsgatecommunications.com  www.evosecurities.com





                      This information is provided by RNS
            The company news service from the London Stock Exchange