White Nile Raises Funds for Southern Sudan, Ethiopia Activities

White Nile Ltd. has raised £18 million through the issue of 18,000,000 new ordinary shares of 0.1p each at £1.00 per share. The proceeds of the placing, conducted with existing as well as new institutional investors, will be utilized to fund the development of the Company's operations in Southern Sudan and Ethiopia, as well as to develop its activities within the region as a whole.

Application will be made today for the new shares to trade on AIM and it is expected that dealings in these shares will commence on 21 June 2007. The new ordinary shares will rank pari passu in all respects with the existing shares in issue.