GIP Gippsland

RNS Number:2763H
Gippsland Limited
12 January 2005


12 January 2004

Gippsland Limited

GRANTING OF FREE TRADE ZONE

Further to the announcement made on 27 August 2004 the Directors of Gippsland
Limited ("Gippsland" or "the Company") are pleased to announce that the Egyptian
General Authority for Investment & Free Trade Zones ("GAFI") www.gafinet.org has
approved Gippsland's application to have the Company's 40 million tonne Abu
Dabbab tantalum project operate within a project specific Private Free Trade
Zone.

The Private Free Trade Zone will provide a number of significant long-term
benefits to the Abu Dabbab project including but not limited to the following:

* Zero customs import duty for plant & equipment
* Zero customs import duty for project consumables;
* Zero sales tax; and
* Zero general and Company profit taxation.

The benefits afforded by the Private Free Trade Zone will accrue for the life of
the project which based on a mining rate of 2 million tonnes per annum is
expected to be several decades.

The Private Free Trade Zone will also apply to the Company's nearby 98 million
tonne Nuweibi tantalum deposit which like Abu Dabbab is also covered by a
30-year mining licence which may be extended for a further 30-year period if
required.

The ability of Gippsland to reach this milestone agreement with GAFI to
establish a project specific Private Free Trade Zone (the first of its kind)
provides clear evidence that the Abu Dabbab project is enjoying a very high
level of support from its joint venture partner Egyptian Mineral Resources
Authority (formerly Egyptian Geological Survey & Mining Authority), and all
levels of the Egyptian Government.

R J (Jack) Telford
Executive Chairman

For further information please contact:
Jack Telford
Gippsland Limited
Tel: +61 (0)8 9389 8611
jtelford@gippslandltd.com
www.gippslandltd.com

Leesa Peters / Laurence Read
Conduit PR
Tel: +44 (0)20 7936 9095
leesa@conduitpr.com
laurence@conduitpr.com

Bill Sharp / Les Polden
HB-corporate
Tel: +44 (0)20 7510 8560/8576
b.sharp@HB-corporate.com
l.polden@HB-corporate.com


                      This information is provided by RNS
            The company news service from the London Stock Exchange

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