Legend International Holdings, Inc. : Announces First Major Milestone for Financing of the Paradise Phosphate Project – 02/13/2012

February 13, 2012

Legend International Holdings, Inc.

ABN 82 120 855 352

Level 8, 580 St Kilda Road

Melbourne Victoria 3004

Australia

PO Box 6315, St Kilda Road Central

Melbourne Victoria 8008

Australia

T [phone]

F [phone] [e-mail] www.lgdi.net

PRESS RELEASE LEGEND INTERNATIONAL HOLDINGS, INC. ANNOUNCES FIRST MAJOR MILESTONE FOR FINANCING OF THE PARADISE PHOSPHATE PROJECT

Melbourne Australia - Monday, February 13, 2012 - Legend International Holdings, Inc (OTCBB: LGDI), ("Legend"), is pleased to announce that it has achieved the first major milestone for financing of its 100% owned Paradise Phosphate Project.
This first step has involved a transfer of all Legend's phosphate assets into a 100% owned subsidiary of Legend and funding via a A$7.5 million convertible note facility ("Convertible Note Agreement") which has been injected into the subsidiary through , Acorn Capital Ltd ("Acorn"), an Australian financial institution. The A$7.5 million will convert into equity in the subsidiary upon a successful Initial Public Offering ("IPO") and listing of the subsidiary on the Australian Securities Exchange ("ASX") within 12 months of the note issue date. Further information about the transfer of the phosphate assets, the Convertible Note Agreement and other related documents please refer to Legend's Form 8