DEVELOP GLOBAL LIMITED — Capital/Financing Update 2008

Aug 26, 2008

ASX ANNOUNCEMENT

27 Aug 2008

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JUTT HOLDINGS LIMITED TO FOCUS ON LIBERTY-INDEE COPPER-ZINC PROJECT, WITHDRAWS FROM ONSLOW JOINT VENTURE

ASX Code

Shares : JUT

31 July 2009 Options : JUTO 15 June 2009 Options : JUTOA

Share Price

Close 26 August 2008 : $0.12 52 week high : $0.275 52 week low : $0.0495

Issued Capital

69.0M Shares 62.3M Options

Market Capitalisation $8.3M (at 26 August)

Board of Directors

Charles Morgan (Non-Executive Chairman)

Tim Sugden (Managing Director)

Burkhard Eisenlohr (Executive Director)

Jutt Holdings Limited (Jutt) has withdrawn from the Onslow (Range & Turtle) Joint Venture.

Following a review of technical, economic and contractual aspects of the joint venture, the Board of Jutt concluded that further expenditure on the Range and Turtle copper-zinc-silver prospects was unlikely to generate acceptable value for Jutt’s shareholders.

The Company will now focus its efforts on the exciting LibertyIndee copper-zinc-silver project located near Whim Creek in the Pilbara Region of Western Australia.

Recent RC drilling results at the Evelyn prospect, Liberty-Indee include 19m @ 2.6% Cu; 15m @ 1.8% Cu and 10m @ 6.4% Cu and 2.4% Zn. Further drill results are pending. The target unit has now been geologically mapped for over 12km and numerous gossans (generally indicators of subsurface sulphide mineralisation) have been identified along its length. Jutt intends to test these targets in the next drilling campaign expected to commence in October 2008.

Ayaz Khan (Non-Executive Director)

Michael Mulroney (Non-Executive Director)

Substantial Shareholders

Argonaut – 10.0% Ayaz Khan – 7.6% Craig Burton – 7.6% Liberty Mining - 6.1%

For further information contact:

Charles Morgan Tim Sugden Chairman Managing Director Mobile: 0412 152 534 Mobile: 0407 085 032 Email: cmorgan@seaspin.com.au Email: tim.sugden@juttholdings.com

For more information visit www.juttholdings.com and sign up for email news.

Projects

Liberty-Indee (Cu-Pb-Zn-Au-Ag)

Tay Munglinup (Ni-Cu)