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Magnesium Intl Ltd (MGK)

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Monday 19 September, 2005

Magnesium Intl Ltd

Lapsed Options

Magnesium International Limited
19 September 2005

19 September 2005

                         Unlisted Share Options in MGK

Lapsed Options

We advise that 253,340 unlisted share options in MGK lapsed on 31 July 2005.

Issue of Options

We advise that 650,000 unlisted share options in MGK were issued on 19 September
2005, to two executives recently appointed as key personnel to the EMAG project.

The Options are exercisable in one tranche of 250,000 options and in two
tranches of 200,000 options each and have an expiry date of 30 June 2011.
Details of the terms and conditions under which these options will vest are
shown in the attached Appendix 3B.

Following these transactions the issued capital of the company is now:

Listed Ordinary shares                               38,040,170

Listed Options                                        5,833,750

Unlisted Options                                      4,370,200

For further information please contact:

James Beecher, Company Secretary

Magnesium International Limited

Telephone 02 9252 1505

Fax         02 9252 1507

Email       [email protected]


magnesium international limited   abn 23 003 669 163

level 6 210 george street sydney nsw 2000 australia

po box N114 grosvenor place nsw 1220

tel  61 2 9252 1505   fax  61 2 9252 1507

email  [email protected]

                      This information is provided by RNS
            The company news service from the London Stock Exchange                                                                                                                                                                                                                                                       

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