Annual report & accounts

    ANNOUNCEMENT

Zambia Copper Investments Limited
Incorporated in Bermuda

(the "Company")

The Directors of the Company wish to advise that copies of the financial
statements  and  report of the Directors and auditors for  the  year  to
December  31,  2002, together with the notice of annual general  meeting
and proxy forms, are being posted to all shareholders whose names appear
on  the  register. A copy of the financial statements and report of  the
Directors  and  auditors is available for inspection  on  the  Company's
website:  www.zci.lu. Shareholders who wish to receive  a  copy  of  the
Company's  annual report may direct a request in writing to the  offices
of  the Company's administrators, Maitland Management Services SA, 6 rue
Adolphe   Fischer,  L-1520,  Luxembourg,  Boite  Postale   1361   L-1013
Luxembourg,    for   the   attention   of   Mr.   John    Kleynhans    -
[e-mail].
The  Directors  further wish to advise shareholders that  the  Company's
annual general meeting is due to be held on Wednesday, 11 June 2003,  at
10h00am,  at  the  offices of Maitland Management  Services  SA,  6  rue
Adolphe Fischer, Luxembourg.

Dated 7 May 2003