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Ivonhoe Completion of $251m Equity Raising

Ivanhoe Australia successfully completes $251 million institutional equity raising. Strong global institutional equity demand will enable Cloncurry Project production by late 2011. Underwritten retail offer to raise a further $18 million; option exercise may increase total raising size to $427 million over 12 months. Robert Friedland, Chairman, and Peter Reeve, Chief Executive Officer of Ivanhoe Australia Limited (IAL) (IVA-ASX), announced today that Ivanhoe Australia Limited has successfully completed a $251 million equity raising, being the institutional component of its accelerated, non-renounceable, pro rata entitlement offer and an institutional placement. As a result of the strong demand received for the institutional entitlement offer, additional subscriptions of $38 million were accepted under an institutional placement, taking the total amount raised from institutional investors to $251 million. The equity raising, which (with the exception of the already completed placement) is fully underwritten by UBS AG, Australia Branch, and Morgan Stanley Australia Securities Limited, provides Ivanhoe Australia with a very strong platform to move forward on the funding of its large development project program and extensive exploration portfolio.