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Message: Legend International Holdings Announces Significant Increase in Phosphate Moroccan Export Prices to US$350-400 Per Tonne FOB

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Legend International Holdings Announces Significant Increase in Phosphate Moroccan Export Prices to US$350-400 Per Tonne FOB

posted on Mar 17, 08 09:11AM

MELBOURNE, Australia (Business Wire) -- Legend International Holdings, Inc (OTCBB:LGDI) (a Delaware Corporation) with phosphate projects in the State of Queensland, Australia, reports that the rock phosphate Moroccan export price has increased to US$350-400 per tonne FOB.

Official sources have indicated that OCP Morocco is commencing to settle sales for the second quarter of 2008 at prices of US$350 to US$400 FOB. This is an increase of approximately 100% over the prices for the first quarter of 2008.

Legend's phosphate interests in the Georgina Basin in Queensland include Lady Annie, Lady Jane, D-Tree and Thorntonia, which have historical phosphate deposits 1463 million tonnes at a grade of 16.52% P2O5. Further details are contained on our website at www.lgdi.net.

Legend is on track to develop these deposits and become a substantial exporter of phosphate.

About Legend International Holdings Inc

Legend International Holdings, Inc (OTCBB:LGDI) is a Delaware corporation principally engaged in exploration and resource development activities. The Company's exploration licences include approximately 5.2 million acres in Queensland and the Northern Territory, Australia. For further information please visit our website at www.lgdi.net.

Forward-Looking Statements

Forward-looking statements in this press release are made pursuant to the "safe harbour" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, the risks of exploration and development stage projects, risks associated with environmental and other regulatory matters, mining risks and competition and the volatility of mineral prices. Actual results and timetables could vary significantly. Additional information about these and other factors that could affect the Company's business is set forth in the Company's fiscal 2007 Annual Report on Form 10-K and other filings with the Securities and Exchange Commission.

Legend International Holdings Inc
Mr. Joseph Gutnick, +011 613 8532 2866
Chief Executive Officer
Fax: +011 613 8532 2805
josephg@axisc.com.au