MINE CONTRACTING ARRANGEMENTS

RNS Number:9159I
Murchison United NL
19 March 2003


                                                      ASX, AIM and Media Release

                                                                   19 March 2003



MINE CONTRACTING ARRANGEMENTS REVISED AT RENISON BELL

_____________________________________________________________________



Murchison United NL ("Murchison" or "the Company") (ASX: MUR, AIM: MUU) today
announced that the heads of agreement that the Company had entered into with
mining contractor Barminco late last year had come to an end and revised
arrangements agreed.



Under the heads of agreement Barminco was to provide contractual mine operating
and management services and fund the working capital requirements for the
Company's 100% owned Renison Bell mine. The Company and Barminco were to share
equally the surplus cashflow after Renison Bell had met all its commitments.



Under the revised arrangements Barminco will continue to provide contractual
mine operating services but will no longer be required to fund the working
capital requirements. Accordingly Barminco will no longer share the surplus
cashflow as previously contemplated.



Managing Director Paul Atherley commented: "The arrangements with Barminco have
been an important contributor to Renison's improved operating performance during
the current quarter and we continue to work closely with them.



With increasing tin production and stronger tin prices and an overall improved
position for Renison Bell, it was mutually agreed that the proposed funding
arrangements no longer suited either of our requirements."



For further information please contact:


Paul Atherley, Managing Director
Murchison United NL
Telephone:   [phone]
Facsimile:   [phone]
Email:       [e-mail]






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