New Sources Energy N.V.

Earnings Release • Sep 28, 2007

Press release

Management Share announces results first half 2007

Management Share evaluates possible future scenarios

Hoofddorp, 28 September 2007 Management Share NV has ended the first half year of 2007 with a negative result of 103,000, stable compared to the first half of 2006.

In the first half of the year, Management Share evaluated a number of possible future scenarios. Management Share has not been able to materialize the possibilities for the addition of new activities. All options are kept open.

Results

The general and management costs of 25,000 primarily consist of costs for management, legal counsel, administrative costs and costs relating to the listing of the company. The financial costs of 78,000 were stable compared to last year and relate to interest payments on loans of the major shareholders.

Even though contributing new activities has proven not to be simple, Management Share will continue to look for possibilities to this end in the second half of 2007. With conditions unchanged, the costs over the second half will be comparable to the costs over the first half of the year.

Shareholders equity

Shareholders equity amounted to - 3.5 million as per 30 June 2007 (ultimo 2006: - 3.4 million)and was fully financed by the major shareholders. At the end of June 2007, Management Share had an outstanding debt of 3,2 million with the major shareholders.

Other information

Management Share NV Polarisavenue 138 2132 JX Hoofddorp 2132 JD HOOFDDORP Tel. 023 56 35 104 Fax. 023 56 36 079 E-mail: info@management-share.nl

HALF YEARLY REPORT 2007

Balance sheet* (after appropriation of result, in thousand euros)

ASSETS	30-06-2007	31-12-2006
CURRENT ASSETS
Other receivables and accrued income	2	1
Cash and cash equivalents	3	7
	5	8
TOTAL	5	8
LIABILITIES	30-06-2007	31-12-2006
Shareholders equity
Issued capital	293	293
Other reserves	-3,754	-3,651
	-3,461	-3,358
Loans(s) from (major)shareholders	3,242	3,163
Short term liabilities	224	203
TOTAL	5	8
Profit and loss account* (in thousand euros)
	01-01-2007/	01-01-2006/
	30-06-2007	31-12-2005
General and management costs	-25	-38
Other gains and expenses	-	-
Operating result	-25	-38
Financial expenses	-78	-157
Result from normal operations before taxes	-103	-195
Taxes on results	-	-
NET RESULT	-103	-195

*) First half 2007 unaudited