DECA

Sch 1 - White Nile Limited

AIM 24 May 2005 ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH AIM RULE 2 ALL APPLICANTS MUST COMPLETE THE FOLLOWING: COMPANY NAME: WHITE NILE LIMITED COMPANY ADDRESS: 7 NEW STREET, ST PETER PORT, GUERNSEY COMPANY POSTCODE: GY1 4BZ COUNTRY OF INCORPORATION: GUERNSEY COMPANY BUSINESS: The Company was established in order to identify and acquire projects in the natural resources sector with particular emphasis on oil projects within Africa. In addition to the proposed acquisition of an oil concession in Southern Sudan, the Company is currently considering projects in Ethiopia, Kenya and Somalia. DETAILS OF SECURITIES TO BE ADMITTED (i.e. where known, number of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares): 310,000,000 Ordinary Shares of 0.1 pence each CAPITAL TO BE RAISED ON ADMISSION: None FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS: Philippe Henri Edmonds, Chairman and Chief Executive Andrew Stuart Groves, Development Director Brian Michael Moritz, Non-Executive Director PERSON(S) INTERESTED IN 3% OR MORE OF THE ISSUER'S CAPITAL, EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL STATING WHETHER BEFORE OR AFTER ADMISSION: NAME Percentage Of Enlarged Number of Ordinary shares held Share Capital Held Name of shareholder Nile Petroleum Corporation Ltd (1) 155,000,000 50% Central African Mining & Exploration 15,000,000 4.84% Company Plc P H Edmonds 15,000,000 4.84% A S Groves 15,000,000 4.84% US Global Investors Global 13,000,000 4.19% Resources Fund RAB Energy Fund Ltd 10,000,000 3.23% (1) - All significant shareholders apart from Nile Petroleum Corporation Limited will have held the holdings quoted above before and after admission. NAMES AND ADDRESSES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (G) OF THE AIM RULES: None ANTICIPATED ACCOUNTING REFERENCE DATE: 30 June EXPECTED ADMISSION DATE: 17 June 2005 NAME AND ADDRESS OF NOMINATED ADVISER: Numerica Capital Markets Limited 66 Wigmore Street, London, W1U 2HQ NAME AND ADDRESS OF BROKER: Hichens, Harrison & Co. plc Bell Court House, 11 Blomfield Street, London, EC2M 1LB DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES: The Admission Document contains full details about the applicant and the admission of the applicant's securities to trading on AIM. The Admission Document will be available until 27 May 2005 at 4th Floor, Clements House, 14-18 Gresham Street, London, EC2V 7NN and from 31 May 2005 until 31 July 2005 at Millennium Bridge House, 2 Lambeth Hill, London, EC4V 4AJ. DATE OF NOTIFICATION: 24 May 2005 NEW/ UPDATE (see note): New QUOTED APPLICANTS MUST ALSO COMPLETE THE FOLLOWING: N/A (not already quoted) THE NAME OF THE AIM DESIGNATED MARKET UPON WHICH THE APPLICANT'S SECURITIES HAVE BEEN TRADED: THE DATE FROM WHICH THE APPLICANT'S SECURITIES HAVE BEEN SO TRADED: CONFIRMATION THAT, FOLLOWING DUE AND CAREFUL ENQUIRY, THE APPLICANT HAS ADHERED TO ANY LEGAL AND REGULATORY REQUIREMENTS INVOLVED IN HAVING ITS SECURITIES TRADED UPON SUCH A MARKET: AN ADDRESS OR WEB-SITE ADDRESS WHERE ANY DOCUMENTS OR ANNOUNCEMENTS WHICH THE APPLICANT HAS MADE PUBLIC OVER THE LAST TWO YEARS (IN CONSEQUENCE OF HAVING ITS SECURITIES SO TRADED) ARE AVAILABLE: DETAILS OF THE APPLICANT'S STRATEGY FOLLOWING ADMISSION INCLUDING, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTMENT STRATEGY: A DESCRIPTION OF ANY SIGNIFICANT CHANGE IN FINANCIAL OR TRADING POSITION OF THE APPLICANT, WHICH HAS OCCURRED SINCE THE END OF THE LAST FINANCIAL PERIOD FOR WHICH AUDITED STATEMENTS HAVE BEEN PUBLISHED: A STATEMENT THAT THE DIRECTORS OF THE APPLICANT HAVE NO REASON TO BELIEVE THAT THE WORKING CAPITAL AVAILIABLE TO IT OF ITS GROUP WILL BE INSUFFICIENT FOR AT LEAST TWELVE MONTHS FROM THE DATE OF ITS ADMISSION: DETAILS OF ANY LOCK-IN ARRANGEMENTS PURSUANT TO RULE 7 OF THE AIM RULES: A BRIEF DESCRIPTION OF THE ARRANGEMENTS FOR SETTLING THE APPLICANT'S SECURITIES: A WEBSITE ADDRESS DETAILING THE RIGHTS ATTACHING TO THE APPLICANT'S SECURITIES: INFORMATION EQUIVALENT TO THAT REQUIRED FOR AN ADMISSION DOCUMENT WHICH IS NOT CURRENTLY PUBLIC: A WEBSITE ADDRESS OF A PAGE CONTAINING THE APPLICANT'S LATEST ANNUAL REPORT AND ACCOUNTS WHICH MUST HAVE A FINANCIAL YEAR END NOT MORE THEN NINE MONTHS PRIOR TO ADMISSION. THE ACCOUNTS MUST BE PREPARED ACCORDING TO UK OR US GAAP OR INTERNATIONAL ACCOUNTING STANDARDS. THE NUMBER OF EACH CLASS OF SECURITIES HELD IN TRESURY. This information is provided by RNS The company news service from the London Stock Exchange