Centamin Egypt Completes Share Placement to Raise £86 Million

Centamin Egypt Limited, duaknowledge of vsi sand making machine designl listed on the London Stock Exchange (LSE:CEY) and the Toronto Stock Exchange (TSX:CEE), announces the completion of the placing announced earlier today.

A total of 51,502,917 new ordinary shares in the capital of Centamin (or Depositary Interests representing such ordinary shares) have been placed with institutions at a price of 167 pence per Placing Share. Based on the Placing Price, the gross proceeds of the Placing will be approximately £86 million.

The Placing Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of the Company (“Ordinary Shares”), including the right to receive all dividends and other distributions declared, made or paid on or in respect of such shares after the date of issue of the Placing Shares.

The Company will apply for: admission of the Placing Shares to the Official List of the UK Listing Authority; trading on the London Stock Exchange plc’s main market for listed securities; and the approval of the Toronto Stock Exchange ("Admission"). It is expected that Admission will take place and that trading in the Placing Shares will commence on or about 14 December 2010.