ERA share sale

7 December 2005

Some 25% of the equity of uranium producers Energy Resources of Australia (ERA) has been sold to domestic and international professional investors by three major shareholders.

The company, which operates the Ranger uranium mine, announced that 47,872,488 shares, comprising 25.1% of ERA's issued capital, has been collectively sold by Canadian group Cameco, French group Cogema and Japanese operation Japan Australia Uranium Resources Development (JAURD). The three sold all of their "A" class shares through an international bookbuild. The companies sold 6.69%, 7.76% and 10.64% of ERA's issued capital respectively. Rio Tinto continues to hold 68.39% with the remainder of the equity held publicly.

All the sales were made at the price of A$9.50/share ($7.14/share).

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