Centamin Egypt Limited

Centamin Egypt Limited

August 29, 2007 07:00 ET

Centamin Egypt Limited: Completion of Kori Kollo Dismantling-Bolivia

TORONTO, ONTARIO--(Marketwire - Aug. 29, 2007) - Centamin Egypt Limited ("Centamin" or "the Company") (TSX:CEE)(ASX:CNT)(AIM:CEY) is pleased to announce the completion of the dismantling and transportation of the Kori Kollo CIL gold processing plant to the port of Arica in northern Chile.

The Kori Kollo processing plant was acquired late last year from Newmont Mining Corporation for US$11 M and was located in the Andes Plains 200km south east of the Bolivian capital of La Paz.

Dismantling operations began in February 2007 utilizing Bolivian engineering and transport groups. Large cranes for the project were mobilised from Argentina, Santa Cruz and La Paz.

All activities were supervised by a construction team from Centamin. At the peak of activity, 280 personnel were involved in dismantling the facility which required more than 200,000 man hours. The same group of construction supervisors are now in the process of relocating to Egypt to re-assemble the processing plant.

The first shipment of dismantled equipment commenced in June 2007 and largely consisted of equipment requiring refurbishment outside of Egypt prior to importation to Alexandria and then site. After some 200 semi trailer loads all plant and equipment has now been transported across the Bolivian border to the Chilean port of Arica where it is being stored, re-lashed and is awaiting a charter vessel.

It is estimated that ship loading will take place within the next two weeks with arrival into Egypt scheduled for mid October.

For Centamin Egypt Limited

Josef El-Raghy, Managing Director/CEO

29 August 2007

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