Kenmare Signs Sales Contract

Kenmare Resources PLC
01 July 2003 


                            KENMARE RESOURCES PLC

               Kenmare Resources plc ('Kenmare' or 'the Company')


                Kenmare Signs Ilmenite and Rutile Sales Contract

Kenmare Resources plc announces that it has signed a multi-year off-take
contract for the sale of ilmenite and rutile production from its Moma Titanium
Minerals Project in Mozambique. This is the second major ilmenite sale under
contract signed for Moma and brings the total ilmenite sales to well over 50% of
planned ilmenite production. The rutile portion of the contract brings the
rutile sales to 100% of planned rutile production. The specific terms of this
contract are confidential.

Kenmare is a natural resources exploration and mining group listed on the main
markets of the Irish and London Stock Exchanges. Ilmenite and rutile are
titanium dioxide minerals used in the pigment, titanium metal and welding rod
industries. Ilmenite will be the mine's main product, with zircon and rutile
co-products. Kenmare has already signed off-take contracts for a total of 24,000
tonnes of zircon with two major industry consumers. Negotiations are underway
with consumers to enter off-take arrangements covering further zircon
production.

Michael Carvill, Managing Director of Kenmare, said:

'We have secured off-take contracts for a substantial portion of the ilmenite
and zircon production, together with all rutile production at Moma. Kenmare
believes that it has now entered into offtake contracts covering a sufficient
amount of product to satisfy the lenders' proposed marketing requirement for
initial drawdown of debt finance.'


For more information :
Kenmare Resources plc

Michael Carvill, Managing Director               Tel:     + 353 1 671 0411
                                                 Mob:     + 353 87 674 0110

Tony McCluskey, Financial Director               Tel:     + 353 1 671 0411
                                                 Mob:     + 353 87 674 0346
Binns & Co PR Ltd
Paul McManus                                     Tel:     + 44 20 7786 9600
                                                 Mob:     + 44 7980 541 893
Murray Consultants
Tom Byrne                                        Tel:     + 353 1 498 0339


                            www.kenmareresources.com

1st July 2003

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