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Magnesium Intl Ltd (MGK)

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Tuesday 12 July, 2005

Magnesium Intl Ltd

Unmarketable Parcel Sweep

Magnesium International Limited
12 July 2005

12 July 2005

                           UNMARKETABLE PARCEL SWEEP

This announcement is to advise shareholders that the Company has commenced an
unmarketable parcel sweep as part of its capital management programme.  This
action was approved at a General Meeting of the company in February of 2005.

Shareholders with less than a marketable parcel hold, in aggregate, less than
0.2 percent of the issued capital of the Company and represent a
disproportionate administrative regulatory communication and share registry cost
to the Company.  The shareholder base currently comprises over 2,000 individual
holdings which are defined as unmarketable parcels at a share price of $1.39 per
share (less than $500 in market value).

Shareholders with unmarketable parcels will shortly be sent a letter which will
ask them to confirm or otherwise that they wish to have the Company sell their
shares and return the funds to them.  A copy of this correspondence will be
posted on the Company's website when the letter is sent.

For further information please contact

Gordon Galt

Managing Director

Magnesium International Limited

Telephone:              +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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