Director Shareholding

Centamin Egypt Limited
18 December 2003


                                                                    Rule 3.19A.2

                                  Appendix 3Y


                      Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as
available. Information and documents given to ASX become ASX's property and may
be made public.
Introduced 30/9/2001.

Name of entity CENTAMIN EGYPT LIMITED
ABN 86 007 700 352

We (the entity) give ASX the following information under listing rule 3.19A.2
and as agent for the director for the purposes of section 205G of the
Corporations Act.

Name of Director                            Thomas Gee Elder

Date of last notice                         09 May 2002

Part 1 - Change of director's relevant interests in securities
In the case of a trust, this includes interests in the trust made available by
the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the
definition of 'notifiable interest of a director' should be disclosed in this
part.

Direct or indirect interest                   Direct Interest

Nature of indirect interest
(including registered holder)

Note: Provide details of the circumstances giving rise to
the relevant interest.

Date of change                                15 December 2003

No. of securities held prior to change        Nil

Class                                         Unquoted Options

Number acquired                               250,000

Number disposed

Value/Consideration                           Nil
Note: If consideration is non-cash, provide details and
estimated valuation

No. of securities held after change           250,000

Nature of change                              Issued Under
                                              Employee Option
                                              Plan 2002
Example: on-market trade, off-market trade, exercise of
options, issue of securities under dividend reinvestment
plan, participation in buy-back

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of
the definition of 'notifiable interest of a director' should be disclosed in
this part.

Detail of contract

Nature of interest

Name of registered holder
(if issued securities)

Date of change

No. and class of securities to which interest related prior to change

Note: Details are only required for a contract in relation to which the interest
has changed

Interest acquired

Interest disposed

Value/Consideration
Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change




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