PRL GLOBAL LTD — Interim / Quarterly Report 2009

Oct 20, 2008

==> picture [432 x 66] intentionally omitted <==

21 October 2008

Company Announcements Office Australian Securities Exchange

Electronic lodgment

PHOSPHATE RESOURCES UNAUDITED FIRST QUARTER PROFIT SURGE

CI Resources Limited (ASX: CII) is pleased to announce that Phosphate Resources Limited (PRL), has announced an unaudited first quarter pre tax profit of $36.128 million. CI Resources is PRL’s largest shareholder, with a 38.76% stake in PRL.

CI Resources Chairman, Mr Clive Brown, said that PRL continued to capitalise on current strong phosphate market conditions.

“This is an excellent first quarter result for PRL and comes on the back not only of record tonnages shipped for the first quarter, but significant price increases achieved by PRL,” said Mr Brown.

The Company notes that Christmas Island is regularly subject to challenging weather and sea swell conditions, particularly in the January-March quarter, which can significantly reduce the tonnages that can be shipped from the Island during that period. Accordingly first quarter tonnages and profits should not be taken as an immediate reflection of likely full year tonnages and profit.

“Our investment in PRL has continued to perform well, and this quarter has set the foundation for an outstanding year ahead,” continued Mr Brown.

The Phosphate Resources Limited announcement is set out below.

-ENDS-

For further information, please contact:

Clive Brown	Shane Murphy
Chairman	Porter Novelli
CI Resources Limited	+61 8 9386 1233
+61 8 9485 7222	+61 (0)420 945 291

Form 1003

Disclosure notice for unlisted disclosing entity

ANNEXURE A

Phosphate Resources Ltd

First Quarter Results

The unaudited profit before tax of the company for the quarter ending 30[th] September 2008 was $36,128,000.

The unaudited net asset figure of the company as of 30 September 2008 was $50,863,000 which equates to a net asset backing of $14.85 for each ordinary issued share.

The Board anticipates that demand for phosphate product will remain high but, given the extraordinary global financial turmoil and volatility in commodity pricing and exchange rates over the past three weeks, is unable to predict the level of profitability over the full financial year.

The Board notes, in any event, that the Island is regularly subject to weather and sea swell conditions particularly in the January-March quarter that often significantly reduces the tonnages that can be shipped from the Island during the second half of the financial year.

Kevin Edwards Company Secretary 20 October 2008