PRL GLOBAL LTD — AGM Information 2010

Oct 21, 2010

CI RESOURCES LIMITED

A C N 0 0 6 7 8 8 7 5 4

NOTICE OF ANNUAL GENERAL MEETING

The Annual General Meeting of the Company will be held at the Grand Dorsett Subang Hotel, Jalan SS 12/1, Bandar Sunway, Subang Jaya, Selangor, Malaysia on Monday 22nd November 2010 at 10.30 am.

This Notice should be read in its entirety. If Shareholders are in doubt as to how they should vote, they should seek advice from their accountant, solicitor or other professional adviser prior to voting.

The Company’s 2010 Annual Report can be accessed on the Company’s website at www.ciresources.com.au or alternatively by requesting a hard copy from the Company Secretary.

Should you wish to discuss any matter please do not hesitate to contact the Company Secretary by telephone on +61 8 9485 7222.

CI RESOURCES LIMITED

ACN 006 788 754

NOTICE OF ANNUAL GENERAL MEETING

Notice is hereby given that the Annual General Meeting of Shareholders of the Company will be held at the Grand Dorsett Subang Hotel, Jalan SS 12/1, Bandar Sunway, Subang Jaya, Selangor, Malaysia on Monday 22[nd] November 2010 at 10.30 am, ("Meeting").

The Proxy Form forms part of this Notice of Annual General Meeting ("Notice").

The Directors have determined pursuant to regulation 7.11.38 of the Corporations Regulations 2001 (Cth) that the persons eligible to vote at the Meeting are those who are registered as Shareholders of the Company at 10.30 am on 18th November 2010.

AGENDA

ORDINARY BUSINESS

Financial Report

To receive the Financial Report of the Company for the financial year ended 30 June 2010 together with the Directors' Report in relation to that financial year and the Auditor's Report on the Financial Report.

1. Directors’ and Key Management Personnel Remuneration

To consider, and if thought fit, pass as an ordinary non-binding resolution the following:

"That the Remuneration Report be adopted by the Shareholders on the terms and conditions in the Explanatory Memorandum."

2. Re-election of a Director – Mr David Somerville

To consider, and if thought fit, pass as an ordinary resolution the following:

"That Mr David Somerville retires in accordance with the Constitution and, being eligible, offers himself for re-election, be re-elected as a Director.”

CI RESOURCES LIMITED

ACN 006 788 754

3. Re-election of a Director – Mr Phua Siak Yeong

To consider, and if thought fit, pass as an ordinary resolution the following:

"That Mr Phua Siak Yeong retires in accordance with the Constitution and, being eligible, offers himself for re-election, be re-elected as a Director.”

4. To Confirm Appointment of a Director – Prof. Anthony Brennan

To consider, and if thought fit, pass as an ordinary resolution the following:

"That for the purpose of section 201H(3) of the Corporations Act and all other purposes, the Company approve and confirm the appointment of Professor Anthony Brennan as a Director of the Company on 29 January 2010."

Other Business

To transact any other business which may be properly brought before the meeting in accordance with the Company’s Constitution and the Corporations Act

By Order of the Board

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Janelle Burns Joint Company Secretary 22 October 2010

CI RESOURCES LIMITED

ACN 006 788 754

EXPLANATORY MEMORANDUM

1. Introduction

This Explanatory Memorandum has been prepared for the information of Shareholders in connection with the business to be conducted at the Annual General Meeting of the Company to be held at Grand Dorsett Subang Hotel, Jalan SS 12/1, Bandar Sunway, Subang Jaya, Selangor, Malaysia on Monday 22nd November 2010 at 10.30 AM.

The purpose of this Explanatory Memorandum is to provide information which the Board believes is material to Shareholders in relation to the Resolutions. The Explanatory Memorandum explains the Resolutions and identifies the Directors’ reasons for putting them to Shareholders.

2. Resolution 1 – Directors’ and Key Management Personnel Remuneration

Pursuant to section 250R(2) of the Corporations Act the Company is required to put the Remuneration Report to the vote of Shareholders. The Annual Report for financial year ended 30 June 2010 contains a Remuneration Report which sets out the remuneration policy for the Company and reports the remuneration arrangements in place for the Directors and other key management personnel.

The provisions of the Corporations Act provide that the vote is only an advisory vote of Shareholders. Resolution 1 is advisory only and does not bind the Directors of the Company. Of itself, a failure of Shareholders to pass Resolution 1 will not require the Directors to alter any of the arrangements in the Remuneration Report, however the board will take the outcome of the vote into consideration when considering the remuneration policy.

The Chairman of the Meeting will allow a reasonable opportunity for Shareholders as a whole to ask questions about, or make comments on the Remuneration Report.

The Company’s 2010 Annual Report can be accessed on the Company’s website at www.ciresources.com.au or alternatively by requesting hard copy from the Company Secretary.

CI RESOURCES LIMITED

ACN 006 788 754

3. Resolution 2 – Re-election of a Director – Mr David Somerville

The Constitution requires that if and for so long as there are three or more Relevant Directors, one third of those Directors must retire at each AGM. If the number of Directors is not a multiple of three, then the next nearest whole number of relevant Directors must retire from office. The Constitution excludes the Managing Director.

The Constitution provides that a Director who retires is eligible for re-election.

Pursuant to the Constitution Mr David Somerville will retire by rotation.

Mr Somerville seeks re-election. A brief biography of Mr Somerville is in the Annual Report.

The Board supports the re-election of Mr David Somerville.

4. Resolution 3 – Re-election of a Director – Mr Phua Siak Yeong

The Constitution requires that if and for so long as there are three or more Relevant Directors, one third of those Directors must retire at each AGM. If the number of Directors is not a multiple of three, then the next nearest whole number of relevant Directors must retire from office. The Constitution excludes the Managing Director.

The Constitution provides that a Director who retires is eligible for re-election.

Pursuant to the Constitution Mr Phua Siak Yeong will retire by rotation.

Mr Phua seeks re-election. A brief biography of Mr Phua is in the Annual Report.

The Board supports the re-election of Mr Phua Siak Yeong.

CI RESOURCES LIMITED

ACN 006 788 754

5. Resolution 4 – To Confirm Appointment of a Director

Pursuant to section 201H(3) of the Corporations Act, if a person is appointed by the other Directors as a Director of a public company, the Company must confirm the appointment by resolution at the Company’s next Annual General Meeting. If the appointment is not confirmed, the person ceases to be a Director of the Company at the end of the Annual General Meeting.

On 29 January 2010, the Directors appointed Professor Anthony Brennan as a Nonexecutive Director of the Company. Section 201H(3) of the Corporations Act required the appointment of Prof. Brennan as a Director to be confirmed by ordinary resolution. If such resolution is not obtained, Prof. Brennan’s appointment will cease at the end of the Annual General Meeting.

The Board supports the confirmation of the appointment of Prof. Anthony Brennan.

Glossary

$ means Australian dollars.

ASIC means the Australian Securities and Investments Commission.

ASX means ASX Limited.

ASX Listing Rules means the Listing Rules of ASX.

Board means the current board of directors of the Company.

Business Day means Monday to Friday inclusive, except New Year’s Day, Good Friday, Easter Monday, Christmas Day, Boxing Day, and any other day that ASX declares is not a business day.

Company means CI Resources Limited (ACN 006 788 754).

Constitution means the Company’s constitution.

Corporations Act means the Corporations Act 2001 (Cth).

Directors means the current directors of the Company.

Explanatory Statement means the explanatory statement accompanying the Notice of Meeting.

Annual General Meeting means the meeting convened by the Notice of Meeting.

Independent Expert means RSM Bird Cameron.

Independent Expert’s Report means the Independent Expert’s Report prepared by RSM Bird Cameron annexed to this Notice Meeting as Appendix A.

KST means Standard Time as observed in Kuala Lumpur, Malaysia.

Notice of Meeting or Notice of General Meeting means this notice of general meeting including the Explanatory Statement.

Phosphate Product means bulk rock phosphate raw material and phosphate dust mined by PRL on Christmas Island, but excluding any chemically processed phosphate material.

PRL means Phosphate Resources Limited (ACN 009 396 543).

Resolutions means the resolutions set out in the Notice of Meeting, or any one of them, as the context requires.

Share means a fully paid ordinary share in the capital of the Company.

Shareholder means a holder of a Share.

CI RESOURCES LIMITED ACN 006 788 754

P R O X Y F O R M

The Company Secretary CI Resources Limited

By delivery: Level 2, 91 Havelock Street West Perth WA 6005

By post: By facsimile: 9 Diosma Way 9322 2827 Forrestfield WA 6058

I/We

[1] _________________

of ________________

being a Shareholder/Shareholders of the Company and entitled to _______

votes in the Company, hereby appoint[2 ] ___________

or failing such appointment the Chairman of the Meeting as my/our proxy to vote for me/us on my/our behalf at the Annual General Meeting of the Company to be held at Grand Dorsett Subang Hotel, Jalan SS 12/1, Bandar Sunway, Subang Jaya, Selangor, Malaysia on Monday 22nd 2010 at 10.30 am, and at any adjournment thereof in the manner indicated below or, in the absence of indication, as he thinks fit. If 2 proxies are appointed, the proportion or number of votes that this proxy is authorised to cast is * [ ]% of the Shareholder’s votes*/ [ ] of the Shareholder’s votes. (An additional Proxy Form will be supplied by the Company, on request).

INSTRUCTIONS AS TO VOTING ON THE RESOLUTION

The proxy is to vote for or against the Resolution referred to in the Notice as follows:

For Against Abstain

Resolution 1 Directors’ and Key Management Personnel Remuneration Resolution 2 Re-election of a Director – Mr David Somerville Resolution 3 Re-election of a Director – Mr Phua Siak Yeong Resolution 4 Confirmation of Appointment of a Director – Prof. Anthony Brennan

If the Chairman of the meeting is your proxy and you have not directed your proxy how to vote, please place a mark in this box. By marking this box, you acknowledge that the Chairman may exercise your proxy even if he has an interest in the outcome of the resolution and votes cast by him other than as proxy holder will be disregarded because of the interest. If you do not mark this box, and you have not directed your proxy how to vote, the Chairman of the meeting will not cast your votes and your votes will not be counted in computing the required majority if a poll is called on these items. The Chairman intends to vote undirected proxies in favour of all resolutions.

If you mark the abstain box for a particular item, you are directing your proxy not to vote on that item on a show of hands or on a poll and that your shares are not to be counted in computing the required majority on a poll.

Authorised signature/s This section must be signed in accordance with the instructions overleaf to enable your voting instructions to be implemented.

Individual or Shareholder 1 Shareholder 2 Shareholder 3 Sole Director and Sole Company Director Director/Company Secretary Secretary ____ ____ _____ Contact Name Contact Daytime Telephone Date

1Insert name and address of shareholder

2 Insert name and address of proxy

*Omit if not applicable

Proxy Notes:

A Shareholder entitled to attend and vote at the Meeting may appoint a person or a corporation as the Shareholder's proxy to attend and vote for the Shareholder at that Meeting. If the Shareholder is entitled to cast 2 or more votes at the Meeting the Shareholder may appoint not more than 2 proxies. Where the Shareholder appoints more than one proxy the Shareholder may specify the proportion or number of votes each proxy is appointed to exercise. If such proportion or number of votes is not specified each proxy may exercise half of the Shareholder's votes. A proxy may, but need not be, a Shareholder of the Company.

If a Shareholder appoints a corporation as the Shareholder’s proxy to attend and vote for the Shareholder at that meeting, the representative of the corporation to attend the meeting must produce the appropriate Certificate of Appointment of Representation prior to admission. A form of the certificate may be obtained from the Company’s share registry.

You must sign this form as follows in the spaces provided:

Joint Holding: where the holding is in more than one name all of the holders must sign.

Power of Attorney: if signed under a Power of Attorney, you must have already lodged it with the registry, or alternatively, attach a certified photocopy of the Power of Attorney to this Proxy Form when you return it.

Companies: a Director can sign jointly with another Director or a Company Secretary. A sole Director who is also a sole Company Secretary can also sign. Please indicate the office held by signing in the appropriate space.

If a representative of the corporation is to attend the Meeting the appropriate "Certificate of Appointment of Representative" should be produced prior to admission. A form of the certificate may be obtained from the Company’s Share Registry.

Proxy Forms (and the power of attorney or other authority, if any, under which the Proxy Form is signed) or a copy or facsimile which appears on its face to be an authentic copy of the Proxy Form (and the power of attorney or other authority) must be deposited at or received at Level 2, 91 Havelock Street, West Perth WA 6005, by post to 9 Diosma Way, Forrestfield WA 6058 or by Facsimile +61 8 9322 2827 not less than 48 hours prior to the time of commencement of the Meeting (WST).