Zambia Copper Investments Limited
("the Company" or "ZCI")
Incorporated in Bermuda

The Directors of the Company refer to recent reports in the Zambian
press relating to the alleged conclusion of negotiations between Konkola
Copper Mines plc ("KCM"), the Government of the Republic of Zambia and
Sterlite Industries Limited, the preferred bidder in the process to
secure a strategic equity partner for KCM.

The Directors of ZCI advise shareholders that they have not received any
proposals from the board of KCM, resulting from the negotiation process
and are accordingly not in a position to comment on these reports.

Should there be any queries relating to the above, shareholders are
invited to contact either John Kleynhans (tel. +352 40 25 051,
j.kleynhans@maitlandgroup.com), or Steven Georgala (+33 1 53 89 11 20,
steven.georgala@maitlandgroup.com).

Bermuda
09 October 2003