DEVELOP GLOBAL LIMITED — Capital/Financing Update 2007

Jun 20, 2007

ASX ANNOUNCEMENT (ASX Code: JUT)

21 June 2007

PRO-RATA ENTITLEMENTS ISSUE

Jutt Holdings Limited (ASX:JUT) is pleased to announce a four for five nonrenounceable entitlement issue of Options. The Company will apply to have the Options quoted on the ASX and a prospectus and timetable will be lodged soon.

The Options will be issued at a price of 1 cent and will be exercisable at 20 cents each on or before 31 July 2009, to raise approximately \$346,000.

Managing Director Mr Ayaz Khan said the funds raised will be used for the initial exploration expenditure on the Tay-Munglinup joint venture.

"Issuing these Options will enable us to move quickly on the Tay-Munglinup exploration," Mr Khan said.

About Jutt Holdings

Jutt Holdings Limited (ASX:JUT) is an Australian listed resources exploration company, focused on several base and precious metals exploration projects in Western Australia.

Jutt Holdings has two projects in the Pilbara region of Western Australia, Onslow and Liberty-Indee Projects, both of which it has the rights to acquire major participating interests.

The Onslow Project consists of two granted Mining Leases over two prospects, being the Range lead-silver prospect and the Turtle copper-lead-silver prospect.

The Liberty-Indee Project consists of two granted exploration licences. A target generation study has identified four highly ranked targets and another four targets prospective for gold mineralisation, one of which has the potential for copper, lead, zinc and gold mineralisation.

Any further exploration on the Company's interests is subject to completion of heritage agreements in the case of the Liberty-Indee Project and heritage surveys being completed in the case of Jutt's other projects.

Jutt Holdings also has plans to explore the Kooline Project for high grade lead silver ore, and the Tarrawarra Application for silver and base metals associated within a structural corridor

Visit: www.juttholdings.com

The information in this announcement that relates to exploration results is based on information compiled by Jutt Holdings Limited and is based on information provided by Mr Cyril Leslie Geach BSc (Hons-Geology) who is a member of the Australian Institute of Geoscientists. Mr Geach has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a competent person as defined in the 2004 edition of the "Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Geach is an Executive Officer of Jutt Holdings Limited and consents to the inclusion in the announcement of the matters based on his information in the form and content in which it appears.