MELBOURNE, Australia, Aug 06, 2008 (BUSINESS WIRE) -- Legend International Holdings, Inc (OTCBB:LGDI) with phosphate projects in the State of Queensland, Australia, announces that the Indian Farmers Fertiliser Cooperative Limited ("IFFCO") have exercised 5,000,000 options in Legend at a strike price of $US 2.50 pursuant to the Share Options Agreement entered into on July 16, 2008.

The options exercise will provide an additional $US12.5 million of gross funding for the Company ($US12.3 million net of transactional costs) and will increase IFFCO's stake in Legend from 6.78% to 8.84%. IFFCO still retains 25,000,000 options in Legend at strike prices from $US3.00 to $US4.00.

Commenting on the Agreement, Mr. Joseph Gutnick stated, "IFFCO's decision to exercise the options 45 days early represents a significant vote of confidence in Legend's projects and direction."

The proceeds of the options exercise will be used to advance the ongoing development of the Company's phosphate projects in the Georgina Basin in the Mt Isa region of Queensland.