Announcements - 26 March 2003

Kenmare receives Environmental Licence for Moma Project

Kenmare Resources plc, the natural resources exploration and mining group, announces that it has been granted an Environmental Licence for the Moma Titanium Mineral Sands Project in Mozambique, the last major environmental requirement to proceed to the mine's construction phase.

The Licence approval by the Department of the Environment in Mozambique comes after an extensive review process and consultation with the public and stakeholders, whose input was incorporated into the final recommendations.

An Environmental Management Plan for the project has been prepared to World Bank Standards and Kenmare is working closely with the Government of Mozambique and the local communities at the project area to ensure the development of the Moma mine will meet these high environmental standards.

The Moma project will benefit the economy of Mozambique through the creation of both direct and indirect employment, by generating significant export revenues for Mozambique, by improving infrastructure, including transportation, electrification and communications and by providing better health and education services to the local community.

Michael Carvill, Managing Director, said:

"Kenmare is delighted to be granted the Environmental Licence for the project. It is the culmination of an extensive process engaged in by many parties and is a testimony to the support and assistance we have received from the Government of Mozambique."

26 March 2003

For further information:

Michael Carvill
Managing Director
+353-1-671 0411
+353-87-674 0110

Murray Consultants
Tom Byrne
+353-1-498 0339

Binns & Co PR Ltd
Paul McManus
+44-207-7869600
+44-7980-541893

Judith Parry
+44-113-2421171