Proposed Placing

White Nile Limited 27 May 2005 WHITE NILE LIMITED ("White Nile" or "the Company") The Company has noted the volatility of its shares and is aware of the lack of liquidity in the market. White Nile stated in its Admission Document dated 19 May 2005 that 'it is anticipated that a fundraising exercise will need to be undertaken to raise money to finance the development and production of the Concession'. The Company announces that in order to improve the liquidity in the market for the Company's shares and at the same time raise further funds which will be required in the future it has almost completed arrangements for a placing of new shares. White Nile expects to make a full announcement with regard to the placing early next week. This information is provided by RNS The company news service from the London Stock Exchange