Announcements - 19th June 2001

Kenmare Appoints N. M. Rothschild as Financial Advisor for Moma Titanium Minerals Project

Kenmare Resources plc has appointed N. M. Rothschild & Sons Limited to provide financial advisory services in respect of the financing and development of the Moma Titanium Minerals Project (Moma Project) in Mozambique.

Rothschild is a leading international investment bank with broad experience in the natural resources sector. In recent years, it has advised on the structuring and financing of a number of large mining projects in Africa and is the leading advisor on mining project financings world-wide. Rothschild maintains relationships with most of the major mining banks and development funding institutions from which finance for the Moma Project may be sought.

The Moma Project is a world class deposit of titanium minerals. An independent definitive feasibility study on this project was completed earlier this year which showed it to be technically feasible and commercially viable. Kenmare is now progressing negotiations for product offtake contracts and project financing discussions.

Charles Carvill, Kenmare's Chairman, commented:

"The appointment of a financial advisor was the next step towards the development of the Moma Project. We are delighted that Rothschild has accepted the mandate and look forward to pushing the project forward with them over the coming months."

For more information:

Michael Carvill
Managing Director
+353-1-671 0411 or +353-87-6740110

Tony McCluskey
Financial Director
+353-1-671 0411 or +353-87-6740346