KMR Kenmare Resources Plc

    Moma Update
             



         Kenmare Resources plc ("Kenmare" or "the Company")

27th November 2008
                             Moma Update

Following the recent appointment of new mine management at  Kenmare's
Moma Titanium Minerals Mine in Mozambique and against the  background
of constrained monthly  production rates as  previously announced,  a
detailed budget and planning exercise has been undertaken and is  now
being completed, including a review  of forecast production in  2009.
The outcome of this  review has resulted in  the rescheduling to  the
second half  of  2009 of  the  expected  date of  operation  at  full
capacity. Notwithstanding this  delay, the operation  of the  mining,
processing  and  exporting  facilities  has  been  demonstrated   and
confirmed during  the  review.  Kenmare will  continue  to  make  the
necessary  process  and   operational  changes   to  achieve   target
production.

Lenders to the project,  who largely comprise specialist  development
financial institutions, have been advised of the revised schedule for
the achievement of  full production.  Discussions  with lenders  have
commenced with regard  to agreeing  a number  of measures,  including
deferring Senior Loan principal  instalments due in 2009,  increasing
access to the Contingency Reserve Account and delaying the final date
for achieving financial  completion, in order  to preserve  liquidity
within the Kenmare  group and to  accommodate this revised  schedule.
Allowing for the year end holiday period, we expect these discussions
to take  approximately  two months.  The  Board is  optimistic  of  a
positive outcome and will make further announcements in due course.

In the  meantime, the  Company  has been  working  through a  set  of
performance tests with  the contractor. The  tests are a  requirement
under the construction  contract and the  information generated  will
assist  implementation  of  changes  to  bring  the  plant  to   full
capacity.   These  tests  have  however  been  disruptive  and   have
contributed to reduced production in October and November. Production
in October was 27,000 tonnes of ilmenite.

We are pleased to announce that our first shipment of zircon was made
in early  November. Zircon  prices  have increased  substantially  in
recent months, and  Kenmare expects  that further  increases will  be
forthcoming, which will benefit Kenmare  as its zircon contracts  are
priced at market price.

For more information:

Kenmare Resources plc
Michael Carvill, Managing Director
Tel: +353 1 671 0411
Mob: + 353 87 674 0110

Murray Consultants
Jim Milton
Tel: +353 1 498 0345
Mob: + 353 86 255 8400

Conduit PR Ltd
Jane Stacey/Leesa Peters/Fiona Hyland
Tel: +44 207 429 6614
Mob: +44 7922 923 306

                      www.kenmareresources.com

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