Placing

Centamin Egypt Limited
31 March 2006


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

Placing of 75 million new ordinary shares at a price of 27.5p per share to raise
                                 £20.6 million

Centamin, the dual listed gold exploration company, has conditionally completed
a placing ('the Placing') raising approximately £20.6 million (A$50.4 million),
before expenses, for the Company. The funds raised from the Placing will be used
to secure long lead time items and to cover pre-mining costs in relation to the
development of the Company's Sukari mine. Funds will also be used to provide
general working capital.

Details of the Placing

Williams de Broe Plc ('Williams de Broe'), acting as the Company's nominated
adviser and broker in connection with the Placing, has placed 75,000,000 new
ordinary shares of no par value in the Company ('New Ordinary Shares') to
institutional investors and other financial institutions including Ambrian
Partners Limited who acted as sub-agent to the Placing.

The New Ordinary Shares have been placed at a discount of approximately 7.6 per
cent. to the closing middle market price of 29.75p per share on 30 March 2006,
the last business day prior to the date of this announcement. The New Ordinary
Shares will represent approximately 13.0 per cent. of the Company's enlarged
issued share capital immediately following the Placing.

A placing agreement between, inter alia, the Company and Williams de Broe in
respect of the Placing is conditional upon, inter alia, admission of the New
Ordinary Shares to trading on the AIM Market of the London Stock Exchange plc
('AIM') and the Australian Stock Exchange ('ASX'). Application will be made for
the New Ordinary Shares to be admitted to trading on AIM and the ASX. The
Placing has not been underwritten by Williams de Broe.

It is expected that dealings in the New Ordinary Shares on AIM will commence on
or around 6 April 2006. The New Ordinary Shares will rank pari passu with the
existing ordinary shares in the Company.

Enquiries:

Centamin Egypt Limited
Josef El-Raghy                       [phone]

Williams de Broe Plc
Frank Moxon                          [phone]

Bishopsgate Communications Ltd       
Nick Rome                            [phone]



The directors of Centamin accept responsibility for the information contained in
this announcement. To the best of the knowledge and belief of the directors of
Centamin (who have taken all reasonable care to ensure that such is the case),
the information contained in this announcement for which they are responsible is
in accordance with the facts and does not omit anything likely to affect the
import of such information.

Williams de Broe Plc, which is regulated by The Financial Services Authority, is
acting for Centamin and is not acting for anyone else and will not be
responsible to anyone other than Centamin for providing protections afforded to
customers of Williams de Broe Plc or for advising them in relation to such
transactions.




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