New Financial Adviser

Kenmare Resources PLC
19 June 2001


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

   Kenmare Appoints N. M. Rothschild as Financial Advisor for Moma Titanium
                               Minerals Project

Kenmare Resources plc has appointed N. M. Rothschild & Sons Limited to provide
financial advisory services in respect of the financing and development of the
Moma Titanium Minerals Project (Moma Project) in Mozambique.

Rothschild is a leading international investment bank with broad experience in
the natural resources sector. In recent years, it has advised on the
structuring and financing of a number of large mining projects in Africa and
is the leading advisor on mining project financings world-wide. Rothschild
maintains relationships with most of the major mining banks and development
funding institutions from which finance for the Moma Project may be sought.

The Moma Project is a world class deposit of titanium minerals. An independent
definitive feasibility study on this project was completed earlier this year
which showed it to be technically feasible and commercially viable. Kenmare is
now progressing negotiations for product offtake contracts and project
financing discussions.

Charles Carvill, Kenmare's Chairman, commented:

'The appointment of a financial advisor was the next step towards the
development of the Moma Project. We are delighted that Rothschild has accepted
the mandate and look forward to pushing the project forward with them over the
coming months.'


For more information, please contact:

Michael Carvill
Managing Director
[phone] or [phone]


Tony McCluskey
Financial Director
[phone] or [phone]


Tom Byrne
Murray Consultants
[phone] or [phone]


Tim Blackstone
Blackstone Business Communications
[phone]


www.kenmareresources.com


19 June, 2001