Announcements - 18th July 2000

Kenmare announces the publication of Listing Particulars in respect of Proposed Acquisition of Minerals Separation Plant and Proposed Placing of 15,433,333 New Ordinary Shares.

Further to the announcements on 3 May, 2000 and 19 June, 2000 respectively, of the proposed acquisition of a Minerals Separation Plant and the arrangement of a placing of 29,433,333 Ordinary Shares of IR5p each, raising in aggregate Stg£ 3 million, net of expenses, the Board of Kenmare is pleased to announce the publication of a document comprising Listing Particulars in relation thereto.

This document, copies of which have been posted to Shareholders, convenes an Extraordinary General Meeting of the Company for 2.00 p.m. on Wednesday, 9th August ("the EGM"). Resolutions to be considered at the EGM are the approval of the acquisition of the Minerals Separation Plant and the grant of securities allotment authority to Directors. The Minerals Separation Plant is part of the required infrastructure for the development of the Company's Moma Titanium Mineral Sands Project in Mozambique ("the Moma Project"). The grant of authority to Directors will facilitate completion of the second tranche (15,433,333 Ordinary Shares) of the Share Placing.

These arrangements represent further progress toward the achievement of the Directors' objective of production at the Moma Project by the end of 2002.

Charles Carvill, Chairman of Kenmare, said:

"The purchase of the Minerals Separation Plant and completion of the Share Placing are further successful steps in the realisation of our strategy to bring the Moma Titanium Project in Mozambique to production in 2002. The Definitive Feasibility Study is on schedule for completion later this year and dismantling and preparation for transport of the Wet Concentrator Plant, which we purchased earlier this year, is more than half completed and proceeding well."

18 July, 2000

For further information:

Tony McCluskey
Financial Director
+353-1-671 0411
+353-87-674 0346