Development Contract Signed

Kenmare Resources PLC
10 February 2003


               Kenmare Resources plc ('Kenmare' or 'the Company')


                       Kenmare Signs Development Contract

              For Phase One of the Moma Titanium Minerals Project


Kenmare has signed an agreement with Fluor Daniel S.A. (Pty) Ltd ('Fluor')
covering phase one of the Moma Titanium Minerals Project. Flour is a subsidiary
of Fluor Corporation, one of the world's largest engineering contractors. This
agreement covers a definition phase prior to the award of a full fixed price
development contract for the building, commissioning and transfer of facilities
at Moma. The definition phase will end on 31st March and it is anticipated that
a turnkey agreement will be signed shortly thereafter.


Fluor's proposal was one of a number of proposals submitted to Kenmare following
an Invitation to Bid which was issued in September. Fluor's submission was
judged to be the most appropriate both in terms of technical merit and cost. It
was decided that there were advantages to moving swiftly into a definition phase
whilst the main points of a full development contract are being agreed.


A Kenmare operations team has already been transferred into Fluor's Johannesburg
office and is working closely with Fluor's project personnel.




For more information:

Kenmare Resources plc

Michael Carvill, Managing Director

Tel: + 353 1 671 0411

Mob: + 353 87 674 0110


Binns & Co PR Ltd

Paul McManus

Tel:      + 44 207 786 9600

Mob:     + 44 7980 541 893


Judith Parry

Tel: + 44 113 242 1171

Murray Consultants

Tom Byrne

Tel:      + 353 1 498 0339


www.kenmareresources.com


10th February 2003



                      This information is provided by RNS
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