Press Release Dated May 7, 2010 ?

LEGEND INTERNATIONAL HOLDINGS INC ANNOUNCES RECORD DATE FOR SPIN OUT OF DIAMOND, GOLD AND BASE METAL INTERESTS.

Melbourne Australia – May 7, 2010 – Legend International Holdings, Inc (OTCBB: LGDI) is pleased to announce that it has set a record date of June 4, 2010 for entitlements for the spin out of its diamond, gold and base metal interests.

On March 16, 2010, Legend announced that it plans to spin out, to a new Delaware corporation to be formed, the diamond, gold and base metal interests of Legend. Following the spin out, Legend will be a 100% pure phosphate company. Shareholders of Legend will receive shares of common stock in the new corporation on a pro-rata basis to the shares they hold in Legend, at the record date. The Company has commenced the preparation of the necessary documentation for the spin out.

Forward-Looking Statements