Update

White Nile Limited
27 April 2005


                 White Nile Ltd ('White Nile' or 'the Company')

                                    'Update'


On 16 February 2005 the Company announced that it had concluded an agreement
with the Government of South Sudan to acquire a 60% interest in the Block Ba
which contains part of the Muglad Basin in South Sudan (the 'Transaction').  It
was announced that full information on this transaction would be published as
soon as possible and, pending such publication, the directors of White Nile (the
'Directors') requested a temporary suspension of trading on AIM of the Company's
shares.

On 4 March 2005 the Company announced that the Transaction falls to be treated
as a reverse transaction under the AIM Rules and that, accordingly, the
Directors would prepare a circular to shareholders (the 'Circular') in the form
of an AIM admission document and would seek shareholder approval for the
Transaction.  Shareholder approval will be sought at an Extraordinary General
Meeting.

Extensive work has been undertaken to prepare this Circular and the Company has
commissioned a report from leading international oil consultants, Exploration
Consultants Limited, to provide comprehensive information for the Circular.
Details of the Company's rights to the Block Ba concession and the prospective
nature of the venture will be included in the Circular to shareholders.  Certain
details concerning the concession and the operating arrangements have been
finalised during the period since suspension culminating in a Licensing
Agreement which was signed with Nile Petroleum Corporation Ltd on Monday 25
April 2005.  Finalising the Licensing Agreement was a necessary step in advance
of the despatch of the Circular and the Company's readmission as it provides
greater clarity and certainty for shareholders.

The Circular to shareholders is now being finalised and it is anticipated that
the Circular will be sent to shareholders and the temporary suspension of
trading in the Company's shares will be lifted in the next two to three weeks.


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