PRL GLOBAL LTD — Capital/Financing Update 2010

Dec 13, 2010

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14 December 2010

Company Announcements Office Australian Securities Exchange

Electronic lodgement

PHOSPHATE RESOURCES ANNOUNCMENT

CI Resources Limited (ASX: CII) is pleased to announce that Phosphate Resources Limited (PRL), in which CI Resources holds a 47.7% stake, has announced a preliminary Board approval for a proposed acquisition of a business in the agri-business sector in Malaysia.

As reported at the AGM of CII,

“The joint direction of the Boards of PRL and CII is now to consider alternative opportunities for the companies, both through diversification of existing activities and extension of value into current industry sectors.

The Board of PRL is currently considering a number of opportunities within the wider phosphate industry and business opportunities in current regions of operation.”

The PRL Board have now given preliminary approval to the acquisition of Cheekah Kemayan Plantations Sdn Bhd from Sendi Unik Sdn Bhd, a company associated with the Prosper Group (a substantial shareholder of CI Resources Ltd), for RM (Malaysian Ringgit)145 million.

The main assets of the target company are a producing palm oil plantation estate of 4,000 acres in Pahang in peninsular Malaysia and a mill and processing facility servicing the estate and surrounding estates.

It is proposed that continuing management of the business will be provided by contract by a management company associated with the Prosper Group.

CI Resources Limited ABN 70 006 788 754 Postal address: 9 Diosma Way, Forrestfield WA 6058 Telephone: +61 8 9485 7222

There are a number of conditions to be fulfilled in respect of the proposed transaction, including - the approval of the transaction, in accordance with the requirements of ASX listing Rule 10 by the shareholders of the PRL controlling entity, CI Resources Limited.

RSM Bird Cameron have been appointed to provide an independent report on the acquisition and management proposals.

The Board of CII are supportive of the activities of PRL in this regard, with the clear intent to increase value to shareholders through profits and capital growth for both the short term and long term of the Company.

Please see the attached disclosure notice.

For further information, please contact: Janelle Burns Company Secretary CI Resources Limited +61 8 9485 7222

Form 1003

Disclosure notice for unlisted disclosing entity

ANNEXURE A

Phosphate Resources Ltd

Acquisition of Palm Oil Operation

The Board have given preliminary approval to the acquisition of Cheekah Kemayan Plantations Sdn Bhd from Sendi Unik Sdn Bhd, a company associated with the Prosper Group (a substantial shareholder of our controlling entity CI Resources Ltd), for RM ( Malaysian Ringgit )145 million.

The main assets of the target company are a producing palm oil plantation estate of 4,000 acres in Pahang in peninsular Malaysia and a mill and processing facility servicing the estate and surrounding estates.

It is proposed that continuing management of the business will be provided by contract by a management company associated with the Prosper Group

RSM Bird Cameron have been appointed to provide an independent report on the acquisition and management proposals.

Completion of the transaction in the first quarter of calendar 2011, will be dependent on:(i) the Board being satisfied with all aspects of the acquisition and management proposals and the receipt by the Board of a positive report on the proposals from RSM Bird Cameron;

• (ii) the obtaining of finance for at least 60% of the acquisition on satisfactory terms; and (iii) the approval of the transaction, in accordance with the requirements of ASX listing Rule 10 by the shareholders of the PRL controlling entity, CI Resources Ltd.

The Board considers this to be an appropriate investment proposal capable of making both immediate and long term positive cash contributions to the company. The Board also consider it to be the initial step in ensuring the survival of the company as a dividend producing entity after mining on Christmas Island ceases.

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Kevin Edwards Company Secretary 13 December 2010