Application for Additional Listing

RNS Number : 4573P

Centamin Egypt Limited

03 October 2011

For Immediate Release

3 October 2011

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

(LSE:CEY, TSX:CEE)

APPLICATION FOR ADDITIONAL LISTING AND VOTING RIGHTS AND CAPITAL

Centamin Egypt Limited announces that application has been made to the UK Listing Authority and the London Stock Exchange for, respectively, admission to the Official List and admission to trading on the Main Market of the London Stock Exchange of 532,415 new ordinary shares in the capital of the Company (the "New Shares").

The New Shares have been allotted in two tranches, the first of which relates to an allotment made pursuant to the shareholder-approved Employee Loan Funded Share Plan 2011 ("ELFSP"), and the second of which was undertaken as part of the compulsory acquisition procedure implemented in respect of the Company's recommended offer (the "Offer") for the entire issued and to be issued share capital of ShebaExploration (UK) Plc ("Sheba"). The number of such shares so allotted in relation to the ELFSP is 400,000 ("the ELFSP Shares") and the number allotted in relation to the Offer is 132,415 ("the Sheba Shares").

The New Shares are expected to be admitted to the Official List of the UK Listing Authority and to trading on the Main Market of the London Stock Exchange at 8.00 a.m. on or around Wednesday, 5 October 2011 and Friday 7 October 2011 respectively. All the New Shares will rank pari passu with the existing issued ordinary shares of the Company.

Shares issued pursuant to the Employee Loan Funded Share Plan

Under the terms of the ELFSP, the Company has provided a limited recourse and interest free loan to certain employees of the Company for the purpose of acquiring the ELFSP Shares (the "Loan"). The purchase of the ELFSP Shares has been funded by the Loan and the ELFSP Shares will not vest until certain performance conditions are met. In the event the performance conditions are not met, or the shares are forfeited by the participant, the Company can either re-acquire the shares or direct the trustee to sell them on, offsetting the proceeds against the outstanding loan amount and waiving the remainder of the loan. Subject to performance conditions and time based hurdles being met, the loan will be repayable by the relevant employee in full on the earlier of the termination date of the loan (3 years from the date of issue) or the date on which the ELFSP Shares are disposed of.

Further details of the ELFSP can be found in the Company's most recent Annual Report, and full copies of the plan are available to shareholders upon request.

The ELFSP Shares have been issued to Computershare Nominees (Channel Islands) Limited as bare trustee for the relevant participants under ELFSP.

Sheba Offer

Further to the announcement made on 8 August 2011, the Company has today exercised its rights to acquire compulsorily, pursuant to the provisions of Chapter 3 of Part 28 of the Companies Act 2006, all the issued ordinary shares of Sheba in respect of which acceptances had not been received by the closing date of the Offer, on the same terms as the Offer.

As part of the compulsory acquisition procedure, the Company has allotted the Sheba Shares to Sheba to hold on trust on behalf of those Sheba shareholders who did not accept the Offer before the closing date.

In accordance with the UK Financial Services Authority Disclosure and Transparency Rule 5.6.1, following the issue of the New Shares, the issued share capital of the Company comprises 1,095,297,381 ordinary shares. None of these ordinary shares are held in Treasury.

Therefore, the total number of voting rights in the Company is 1,095,297,381. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest, or a change to their interest, in the Company under the FSA's Disclosure Rules and Transparency Rules.

For Centamin Egypt Limited

Chris Aujard

Company Secretary

3 October 2011

For more information please contact:

Centamin Egypt Limited

+ 61 (8) 9316 2640

Josef El-Raghy

www.centamin.com

Buchanan

+ 44 (0)20 7466 5000

Bobby Morse