Ivanhoe Mines Completes Offering

On December 19, 2003, Vancouver-based Ivanhoe Mines Ltd. completed a bought deal global equity offering of 14.3 million units, consisting of 14.3 million common shares and 7.15 million common share purchase warrants at $10.50 per unit, for gross proceeds of $150.15 million. The offering was made in Canada, Europe, Asia and Australia and a portion was sold on a private placement basis in the US to institutional accredited investors. HSBC Securities Canada Inc., GMP Securities Ltd. and CIBC World Markets Inc. co-led the underwriting syndicate, which included UBS Securities Canada Inc.

Ivanhoe was represented in Canada by Goodmans LLP, with a team led by Paul Goldman and Steven Robertson, and included David Redford and Michael Johnson in Vancouver and Bill Gorman and Richard Warren in Toronto; and in the US by Paul, Weiss, Rifkind, Wharton & Garrison LLP in New York, with a team led by Ted Maynard and Andrew Foley, and included Sheila Gibb and David Chorney.

The underwriters were represented in Canada by Fasken Martineau DuMoulin LLP, with a team led by Richard Steinberg in Toronto and Lata Casciano, John Lewis and Frank Schober in Vancouver, and assisted by Melody Schalm, Georald Ingborg and Keith Darvell in Vancouver; and in the US by Dorsey & Whitney LLP in Seattle, with a team that included Christopher Barry and Kenneth Sam.


Melody D. Schalm Frank S. Schober Edwin S. Maynard Richard J. Steinberg Anne Kirker Bill Gorman Andrew J. Foley Marshall E. Rothstein Josh Lewis Michael J. Johnson Sheila Gibb Richard L. Warren Lata C. Casciano Georald Ingborg Paul L. Goldman Keith W. Darvell David Redford


MLT Aikins LLP Paul, Weiss, Rifkind, Wharton & Garrison LLP Fasken Martineau DuMoulin LLP Dorsey & Whitney LLP