Announcements - 25th July 2005

Good Progress on Kenmare's Moma Titanium Mineral Sands Project, Construction Ahead of Schedule

The board of Kenmare is pleased to announce that, as of the end of June, construction of the Moma Titanium Mineral Sands Project was 28% completed and ahead of schedule. Completion is currently anticipated in late September 2006, some six weeks earlier than the contractual programme.

Satisfactory progress is being made across all areas of the project and the majority of "big-ticket" items have already been ordered. The 1600m long airstrip has been completed and is already in use transporting staff between Moma and Johannesburg. Bulk earthworks are nearly complete and civil works are progressing well.

The first concrete pour took place in June as foundations were prepared for the arrival of the ex-Beenup plant from Western Australia. This dismantled plant departed Bunbury Port in Australia on board two 100m long ocean-going barges, both of which have already arrived at Moma. The offloading of one barge is 50% complete and the second barge is waiting off-shore.

Construction of infrastructure, such as the mine village and 170 kms of overhead power line, is well advanced, and an order will be placed this month with a shipyard for the construction of the 75m long product transportation barge, whose design has been recently completed.

The board remains confident that further good progress will be made in the coming months, both in terms of construction and of the marketing of Moma's output.

The board of Kenmare is also pleased to announce the signing of another 5 year marketing contract with a major consumer for anticipated production from its Moma Project in Mozambique. While full details of this latest contract cannot be disclosed, the pricing structure is comfortably above levels anticipated in Kenmare's financing plan.

A full update of progress on the Moma Project will be given at the Company Annual General Meeting today.

For further information:

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

Murray Consultants
Elizabeth Headon
Tel: +353-1-498 0300
Mob: +353 87 989 7234

Conduit PR Ltd
Leesa Peters
+44-207-6188708
Mob: +44 781 215 9885