ZCCM INVESTMENTS HOLDINGS PLC
ANNOUNCEMENT
REGARDING ITS INVESTMENT IN EQUINOX
MINERALS LIMITED

Further to the Cautionary Announcement issued on 6 May 2011, ZCCM‐IH now advises its Shareholders as follows:

Equinox Minerals Limited (“Equinox”) is an international mining company that is dual listed in Canada and Australia on the Toronto Stock Exchange and the Australian Securities Exchange. Equinox has 100% interest in Lumwana Mining Company (LMC) located in Zambia and 100% interest in the Jabal Sayid copper‐ gold project in the Kingdom of Saudi Arabia.

Barrick Gold Corporation (Barrick), a Canadian company, and the leading gold mining company in the world in terms of production, reserves and market capitalisation, recently made an offer (the “Offer”) through its wholly owned subsidiary, Barrick Canada Inc., to purchase all of the issued and outstanding common shares of Equinox by way of negotiated take‐over bid at a cash price of Cdn$8.15 per share. The Equinox Board, after consultation with its financial and legal advisors and on receipt of a recommendation of its special committee, has unanimously determined that the Offer is in the best interests of Equinox and the Shareholders and, accordingly, the Equinox Board has agreed to unanimously recommend that Shareholders accept the offer and deposit their Shares under the Offer.

This development has been of significant interest to ZCCM Investments Holdings Plc (ZCCM‐IH) as the Company owns 2.28% shareholding in Equinox (as at 21 March 2011). This means that ZCCM‐IH has an indirect interest of 2.28% in LMC and 2.28% in Jabal Sayid.

Given that ZCCM‐IH’s interest in Equinox is registered on the Toronto Stock Exchange, the transaction involving Barrick is being conducted according to the rules and regulations of Canada.

After due consideration and consultation, the Board of ZCCM‐IH has accepted the offer which will result in a cash realisation in excess of US$160 million. The initial investment for ZCCM‐IH cost US$30 million in 2006 and therefore the potential return on investment is in excess of 400% during the period 2006 to 2011.

If within 120 days after the date of the Offer (or such longer period as a court may permit), the Offer has been accepted by holders of not less than 90% of the outstanding Shares as at the Expiry Time, excluding Shares held at the date of the Offer by or on behalf of the Offer or or an “affiliate” or an “associate” of the Offeror, the Offeror shall, to the extent possible, acquire the remainder of the Shares from those Shareholders who have not accepted the Offer on the same terms as the shares acquired under the Offer pursuant to the provisions of Section 206 of the Canadian Business Corporations Act. This will in effect be a Compulsory Acquisition.

The offer by Barrick to all shareholders of Equinox represents an opportunity for ZCCM‐IH to realise value from its investment. Upon receipt of the funds from Barrick, ZCCM‐IH will ensure that the funds are prudently managed while exploring all investment avenues within and outside of Zambia. It must be noted that as a listed investment company on the Lusaka Stock Exchange, ZCCM‐IH seeks to enhance value for its shareholders. The Board and Management of ZCCM‐IH will therefore ensure that the principle of realising value for the shareholders is maintained in their daily operations.

Accordingly shareholders are advised to exercise caution when dealing in the company’s securities until a full announcement is made.

Lusaka, Zambia ‐ 01 June 2011