Issue of Equity

Centamin Egypt Limited
22 October 2007

22 October, 2007

                             Centamin Egypt Limited

                         ('Centamin' or 'the Company')



                                Issue of Equity



Centamin Egypt Limited (TSX:CEE, ASX:CNT, AIM:CEY) announces that, following the
exercise of options issued under the Employee Share Option Plan 2006, 50,000
ordinary shares have been issued and allotted at an exercise price of A$0.7106
per share. A further 1,030,000 ordinary shares have also been issued and
allotted following the exercise of 30,000 unquoted options at an exercise price
of A$0.3500, and 1,000,000 unquoted options at an exercise price of A$0.8000 per
share.



Application has been made for the new ordinary shares to be admitted to trading
on AIM. The new ordinary shares will rank pari passu with the existing ordinary
shares in the Company and trading of these shares on AIM is expected to commence
on 26 October 2007.



The total number of Ordinary Shares on issue following this issue is
757,034,232.



For more information please contact:



Centamin Egypt Limited
+ 61 (8) 9316 2640
Josef El-Raghy
www.centamin.com



Pelham Public Relations
+ 44 (0) 207 743 6376
Candice Sgroi
Mobile: + 44 (0) 7894 462 114



Ambrian Partners Limited
+ 44 (0)207 776 6400
Richard Brown






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