Appointment of Barclays

Centamin Egypt Limited
17 April 2007


  Appointment of Barclays Capital as Mandated Lead Arranger for Sukari Project
                                   Financing



Centamin Egypt Limited is pleased to announce that it has appointed Barclays
Capital, the investment banking division of Barclays Bank PLC, as Mandated Lead
Arranger to arrange a financing facility of up to US$100 million for the Sukari
Gold Project.

Together with the proceeds from the recently completed TSX listing and offering,
this facility will complete the financing arrangements required for development
of Sukari. The funding is subject to completion of due diligence and detailed
documentation. This process is underway and is expected to be finalised during
the third quarter of 2007.

Barclays Capital is a leading provider of finance to the mining sector and has a
wealth of experience in financing projects in Africa. In addition, Barclays has
a strong presence in Egypt; through Barclays Bank Egypt it offers a
comprehensive range of banking services for corporate clients. The appointment
of Barclays follows a tender process in which competitive proposals were
received from numerous banks.


For Centamin Egypt Limited

Josef El-Raghy
Managing Director/CEO
April 17, 2007





























For more information please contact:



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




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