International Rating Agency Awards Zambia B+

LUSAKA, Republic of Zambia, March 3, 2011 - Internationally-recognised credit ratings agency Fitch has assigned
Zambia a B+ sovereign rating in recognition of the huge economic strides the
country has taken under His Excellency President Rupiah Banda.

Zambia received the fourth-highest non-investment grade rating supported
by a "stable" outlook from Fitch. The impressive rating reflects "the marked
improvement in Zambia's economic performance since 2003, driven by improved
macroeconomic stability, economic liberalisation, rising private investment
and production in the mining sector, and more recently, a strong agricultural
performance," said Veronica Kalema, a director in Fitch's sovereign group.

Zambia's economy expanded over 7 percent in 2010, up from 6.4 percent in
2009. Growth has been driven by increased mining output, transport,
communication, construction and agriculture.

The rating follows on the heels of global recognition for Zambia's
economic achievements in the World Bank and the International Finance
Corporation's 2011 'Doing Business' report. In that report, Zambia was named
as one of the world's top ten reformers for ease of doing business. Zambia is
also predicted to be one of the world's top ten fastest-growing economies for
2011 to 2015 - showing that there are good times ahead for the Zambian
economy.

President Rupiah Banda, who has committed himself to delivering economic
prosperity to all Zambians, said, "We have worked successfully to create
strong foundations on which to build tomorrow's Zambia. Our economy has
delivered growth of more that 6.6% despite the global recession, thanks to
sound government policies, and it is good that this is being recognised on
the world stage.

He continues: "My goal has always been for Zambia to achieve a better
place in the world. We will achieve this through establishing security,
stability and prosperity for all Zambians. Having a stable economy which will
yield jobs and increase foreign investment, erode poverty and maintain steady
food production and lower prices is critical, and my government will continue
to work hard to achieve this on behalf of all the Zambia people."

    Issued by:

                                  Dickson Jere
                         SPECIAL ASSISTANT TO THE PRESIDENT

Dickson Jere / press at presidentbanda.com / SPECIAL ASSISTANT TO THE PRESIDENT / PRESS AND PUBLIC RELATIONS