PRL GLOBAL LTD — Capital/Financing Update 2011

Feb 7, 2011

ACN 006 788 754

8th February 2011

Company Announcements Platform Australian Securities Exchange Level 8, Exchange Plaza 2 The Esplanade PERTH WA 6000

PHOSPHATE RESOURCES ANNOUNCEMENT

CI Resources Limited (ASX code: CII) is pleased to announce that the board of Phosphate Resources Limited (PRL), in which CI Resources Limited holds a 47.71% stake, has approved the execution of the Sales and Purchase contract to acquire Cheekah Kemayan Plantations Sdn Bhd for RM145million

The proposed acquisition was outlined in an announcement made on 14 December 2010 and remains conditional on the finalisation of some 60% financing with OCBC Bank (Malaysia) Sdn Bhd on satisfactory terms and the approval by the shareholders of CI Resources Ltd, in accordance with the requirements of ASX Listing Rule 10.

A Notice of Meeting together with the Independent Expert Report notifying shareholders of a general meeting will be distributed to shareholders in the near future.

The Board of CI Resources Limited is supportive of the activities of PRL in this regard, with the clear intent to increase shareholders value through profits and capital growth for the company.

Please see the attached disclosure notice by PRL.

Yours faithfully vid Somerville $\mathrel{{\mathcal L}}$ hairman CI Resources Limited

Form 1003

Disclosure notice for unlisted disclosing entity

ANNEXURE A

Phosphate Resources Ltd

Approval of Acquisition of Palm Oil Operation

RSM Bird Cameron have issued an Independent Experts Report to the Board confirming the proposed Sales & Purchase contract for the acquisition of Cheekah Kemayan Plantations Sdn Bhd from Sendi Unik Sdn Bhd and the proposed Management Contract for the plantation and mill operations with PGC Management Services Sdn Bhd, are both fair and reasonable. RSM Bird Cameron have supported their analysis and conclusions with an independent valuation obtained from Jones Lang & Wootton (Malaysia).

Accordingly, the Board has approved the execution of the Sales & Purchase contract for RM 145 million to acquire the target company.

Settlement is scheduled for 31 March 2011 but remains conditional on the finalization of some 60% financing with OCBC Bank (Malaysia) Sdn Bhd on satisfactory terms and 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.

Conservative pricing projections indicate the producing palm oil plantation estate of 4,060 acres in Pahang in peninsular Malaysia and the mill and processing facility servicing the estate and surrounding estates will provide a very satisfactory rate of return on investment over the long term.

The Board will continue to review other investment opportunities to ensure capital growth of the company and continuing cash returns so that it can maintain its dividend producing capacity beyond its mining operations on Christmas Island.

Kevin Edwards Company Secretary 8 February 2011