FYI:Cape Lambert says no agreement in place 19:13, Wednesday, 27...

FYI:

Cape Lambert says no agreement in place
19:13, Wednesday, 27 February 2008

Sydney - Wednesday - Feb 27: (RWE Australian Business News) -
Cape Lambert (ASX:CFE) has updated the market as to its near term plans
for the Company, in light of the recently announced Memorandum of
Understanding and subsequent market speculation.
The Company's immediate and primary focus is to complete all
matters associated with the proposed sale of the Cape Lambert iron ore
project to MCC (as announced to the market on 26 February 2008).
While the Company has, and is continuing, to proactively review
a number of assets for acquisition at both the project and company
level, there are currently NO agreements in place regarding any of these
assets.
In addition, the Board advises that until the Cape Lambert
project sale is successfully completed and the Company receives the
majority of the funds associated with this transaction, NO consideration
will be given to completing an acquisition or making a partial capital
return to shareholders.
The Company is committed to the successful completion of the
sale to MCC and will ensure the market is kept informed of all matters
relevant to its progress.