Legend

Paradise Phosphate Feasibility Study

LEGEND INTERNATIONAL HOLDINGS INC ANNOUNCES POSITIVE AND ROBUST RESULTS FROM WENGFU'S FEASIBILITY STUDY FOR LEGEND'S PARADISE PHOSPHATE PROJECT

Legend International Holdings is pleased to announce positive and robust results from the recently completed feasibility study for Legend's Paradise Phosphate Project conducted by Wengfu Group Ltd of China ("Wengfu"). The results of the feasibility study have confirmed that development of the project is technically and economically viable. The financial model is robust across a number of market scenarios and Legend management believe that studies currently being conducted on project expansion will add significant further value.

Highlights include:

- Paradise Phosphate Project Feasibility Study completed on schedule confirming the technical and financial viability of the base case development scenario
- US$11 billion total revenue over 30 years
- US$2.6 billion total free cash flow after tax and capital
- Pre-tax IRR of 25.5%
- Pre-tax NPV of US$1.5 billion
- Average annual EBITDA of US$151 million of US$1.5 billion.
- Average annual free cash flow after tax of US$113 million
- US$210 DAP cash operating margin for 600ktpa production
- Significant revenue boost of US$28.55 million per year from sale of aluminium fluoride by-product
- Total capital cost of US$808.16 million (includes working capital)
- Capital payback period of 5 years

Please see the Legend Phosphate Project Feasibility Study Presentation, recent Legend Phosphate Project Update (8K) and the related video and audio presentations for complete information on the study.

For more information on Wengfu Group please see our partnerships page.

• 13 August 2010 Legend International Holdings, Inc. Announces Grant of Mining Lease and Project Update > Read more

• 9 August 2010 June 2010 Quarterly Report > Read more

• 26 July 2010 Audio from the Paradise Phosphate Feasibility Study presentation > Read more

• 26 July 2010 Presentation - Paradise Phosphate Feasibility Study - New York, USA - July 26, 2010 > Read more

• 26 July 2010 Legend International Holdings, Inc. Confirms Details of Teleconference Call and Presentation Materials on Website > Read more

• 24 July 2010 Project Update - Results from Wengfu Feasibility Study > Read more

• 24 July 2010 Legend International Holdings, Inc. Announces Positive and Robust Results from Wengfu Feasibility Study > Read more

• 21 July 2010 Legend International Holdings, Inc. Announces Details of Teleconference Call > Read more

• 30 June 2010 Project Update > Read more

• 30 June 2010 Legend International Holdings, Inc. Announces Positive and Robust Wengfu Feasibility Study Complete > Read more