Announcements - 10th January 2000

Kenmare Appoints 2 New Directors and Approves Placing

At an EGM held in Dublin today shareholders in Kenmare approved inter alia a placing of 5,741,900 New Ordinary Shares at Stg7.5p each in the Company. This placing represents the second tranche of a placing of 11,483,800 new Ordinary Shares which in total raised approximately Stg£ 710,000 after expenses. The net proceeds of the placing will be used to fund the completion of a pre-feasibility study over the mineral sands deposits in the Moma region of Mozambique, the drilling of the Pilivili and Namalope zones of the Moma orebody and for ongoing operations.

In addition, shareholders appointed Mr. Ken Judge and Mr. Simon Farrell as Directors of the Company. The Kenmare Board believes that the appointments of Mr. Judge and Mr. Farrell, both of whom have extensive experience in the mineral exploration and mining industry, will benefit the Company considerably.

Mr. Charles Carvill, Chairman of Kenmare, commented as follows:

"I am delighted to welcome Ken Judge and Simon Farrell to the Kenmare Board. Kenmare now has funds in place and is accelerating the development of our Mozambique Titanium Project. The purchase of the Wet Concentrator Plant from BHP by Kenmare last week is a significant advance for the project and I look forward to the completion of the pre-feasibility study in the coming weeks."