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Metminco Limited (ASX MNC) is pleased to advise that the loyalty options outlined in the Initial Public Offering will now occur.

THE OPTIONS WILL BE ISSUED AT ONE CENT EACH, ON A 1 FOR 2 BASIS.

The exercise price of the options will be twenty-five cents, expiring on the 4th of December 2012. A prospectus detailing the non renounceable rights issue to shareholders of options over shares in the Company will be lodged on or about the 2nd of November 2007.

Shareholders acquiring shares before the “ex” date (anticipated to be the 12th of November 2007) and holding shares on the Record Date will be entitled to purchase options in the company on the basis of one option for every two shares held.

The anticipated dates of the offer are:-

Prospectus lodged with ASX and ASIC - 2nd November 2007
“Ex” date - 12th November 2007
Record date for determining entitlements - 16th November 2007
Dispatch of Prospectus - 20th November 2007
Closing Date - 4th December 2007
Options quoted on deferred settlement basis - 5th December 2007

For further information please contact
Bruce Paterson, Company Secretary on (03) 9641 8939 or Keith Weston, Managing Director on 0428 312 767

Date:  Thursday 25 Oct 2007