Statement re White Nile Ltd

AIM 19 May 2005 AIM NOTICE White Nile Limited (WNL) White Nile Limited ('the Company') was admitted to trading on AIM on 10 February 2005. On 16 February 2005 the Company announced that it had concluded an agreement to acquire a 60% interest in Block Ba in South Sudan ('the Acquisition') and, upon request by the Company, it was placed into precautionary suspension pending the publication of full information relating to the Acquisition. On 4 March 2005, following discussions with the London Stock Exchange ('the Exchange'), the Company announced that the Acquisition would be treated as a reverse transaction under the AIM Rules and that its Directors would prepare an admission document and seek shareholder approval of the Acquisition. The Company has remained in suspension since that date pending publication of the document. During this period of suspension, the Exchange has had ongoing discussions with the Company and Numerica Capital Markets Limited, its current nominated adviser. Following a review of the information publicly available and the information made available to the Exchange by the Company concerning the Acquisition, the Exchange felt that it was appropriate to impose certain special conditions on the Company, under paragraph 9 of the AIM Rules. The special conditions imposed by the Exchange were that the Company, prior to its re-admission, should: • obtain Counsel's opinion on the process for approval of oil concession and licence agreements in Sudan; and • make available for public inspection all documents upon which it is placing reliance in relation to the Acquisition. Note: It is the responsibility of AIM companies to ensure that any admission documents are prepared in accordance with the AIM rules. The Exchange has not itself examined or approved the contents of the Company's admission document. This information is provided by RNS The company news service from the London Stock Exchange