DEVELOP GLOBAL LIMITED — Capital/Financing Update 2008

Jun 3, 2008

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ABN 28 122 180 205 www.juttholdings.com

4[th] June 2008

Company Announcement Office Australian Securities Exchange Level 45, Rialto South Tower 525 Collins Street Melbourne VIC 3000

Dear Sir/Madam,

Allotment of Shortfall Shares and Options and Underwriter Options

The Directors of Jutt Holdings Limited (ASX Code: JUT) are pleased to announce the completion of the allotment and issue of 6,008 084 shortfall shares together with 1:1 free attaching JUTOA options exercisable at 10 cents on or before 15 June 2009.

The underwriters of the non-renounceable rights issue have exercised their right, pursuant to clause 7.2.2 of the Disclosure Document lodged with ASX on 28[th] April 2008, to acquire an additional 2,000,000 JUTOA options for $0.005 per option.

The Company raised $987,605.98 before cost from the rights issue.

Following the allotment, the Company has 65,173,730 ordinary shares, 53,077,670 listed options and 3,907,148 unlisted options on issue.

Please refer to the attached Appendix 3B.

Yours faithfully

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Phillip Hains Company Secretary JUTT HOLDINGS LIMITED

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New Issue Announcement, Application for Quotation of Additional Securities and Agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003.

Name of Entity:

Jutt Holdings Limited (ASX Code: JUT)

ABN:

28 122 180 205

We (the entity) give ASX the following information.

Part 1 - All Issues

You must complete the relevant sections (attach sheets if there is not enough space).

1 +Class of +securities issued or to be a) Fully Paid Ordinary Shares (JUT) issued b) Listed Options (JUTOA) c) Listed Options (JUTOA) 2 Number of[+] securities issued or to be a) 6,008,084 issued (if known) or maximum b) 6,008,084 (1 for 1 attaching) number which may be issued c) 2,000,000

• 3 Principal terms of the[+] securities (eg, a) Pari passu with existing ordinary shares if options, exercise price and expiry b) Exercisable at 10 cents on or before 15 June date; if partly paid[+] securities, the 2009 amount outstanding and due dates for c) Exercisable at 10 cents on or before 15 June payment; if[+] convertible securities, 2009

• the conversion price and dates for conversion)

• See chapter 19 for defined terms.

Appendix 3B Page 1

1/1/2003

• 4 Do the[+] securities rank equally in all a) Yes, (JUT) respects from the date of allotment b) Yes upon exercise with an existing[+] class of quoted c) Yes upon exercise +securities? If the additional securities do not rank equally, please state: • the date from which they do • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

• 5 Issue price or consideration a) $0.06 per share b) Nil (1:1 free attaching) c) $0.005 per option pursuant to 1:3 entitlement issue underwriting agreement

• 6 Purpose of the issue (If issued as consideration for the a)+b)Rights Issue Shortfall issued to underwriters acquisition of assets, clearly identify pursuant to the agreement. those assets) c) Exercising of underwriters right, pursuant to clause 7.2.2 of the Disclosure Document lodged with ASX on 28th April 2008

• 7 Dates of entering[[+]] securities into 3 June 2008

• 7 Dates of entering[[+]] securities into uncertificated holdings or despatch of certificates

8 Number and+class of all+securities quoted on ASX (_including_the securities in clause 2 & 38 if applicable)	Code	Ordinary Shares	Options	Exercise Price	Expiry Date
	JUT	54,109,913
	JUTO		34,784,237	$0.20	31/07/2009
	JUTOA		18,293,433	$0.10	15/06/2009
	Total	54,109,913	53,077,670

• See chapter 19 for defined terms.

Appendix 3B Page 2

1/1/2003

9 Number and[+] class of all[+] securities not quoted on ASX ( including the securities in clause 2, not including the securities in clause 38, if applicable)

Code	Ordinary Shares	Options	Exercise Price	Expiry Date	Escrow Release
JUTAB		1,457,148	$0.20	22/04/2011	-
JUTAC		650,000	$0.20	30/11/2010	-
JUTAI	11,063,817				27/04/2009
JUTAM		300,000	$0.30	10/10/2008	-
JUTAD		1,500,000	$0.25	30/06/2009	-
Unlisted Total	11,063,817	3,907,148

10 Dividend policy (in the case of a Unchanged trust, distribution policy) on the increased capital (interests)

Part 2 - Bonus Issue or Pro Rata Issue

11	Is security holder	approval
	required?
12	Is the issue renounceable or non-
	renounceable?
13	Ratio in which the+securities will
	be offered
14	+Class of+securities to	which the
	offer relates
15	+Record date to	determine
	entitlements
16	Will holdings on different registers
	(or subregisters) be aggregated for
	calculating entitlements?
17	Policy for deciding entitlements in
	relation to fractions
18	Names of countries in	which the
	entity has+security holders who
	will not be sent new issue
	documents
	Note: Security holders must be	told how their
	entitlements are to be dealt with.
	Cross reference: rule 7.7.

• See chapter 19 for defined terms.

Appendix 3B Page 3

1/1/2003

19 Closing date for receipt of acceptances or renunciations 20 Names of any underwriters 21 Amount of any underwriting fee or commission 22 Names of any brokers to the issue 23 Fee or commission payable to the broker to the issue 24 Amount of any handling fee payable to brokers who lodge acceptances or renunciations on behalf of+security holders 25 If the issue is contingent on +security holders’ approval, the date of the meeting 26 Date entitlement and acceptance form and prospectus or Product Disclosure Statement will be sent to persons entitled 27 If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders 28 Date rights trading will begin (if applicable) 29 Date rights trading will end (if applicable) 30 How do +security holders sell their entitlements in full through a broker? 31 How do +security holders sell part of their entitlements through a broker and accept for the balance? 32 How do +security holders dispose of their entitlements (except by sale through a broker)?

• See chapter 19 for defined terms.

Appendix 3B Page 4

1/1/2003

• 33 +Despatch date

Part 3 - Quotation of Securities

You need only complete this section if you are applying for quotation of securities

• 34 Type of securities ( tick one )

• (a)[Securities described in Part 1 ]

• (b)[All other securities ]

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

• 35[If the ][+][securities are ][+][equity securities, the names of the 20 largest holders of the ] additional[+] securities, and the number and percentage of additional[+] securities held by those holders (refer to Annexure – 1)

• 36[If the ][+][securities are ][+][equity securities, a distribution schedule of the additional ][+][securities ] setting out the number of holders in the categories (refer to Annexure – 1) 1 - 1,000

• 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over

• 37[A copy of any trust deed for the additional ][+][securities ]

• See chapter 19 for defined terms.

Appendix 3B Page 5

1/1/2003

Entities that have ticked box 34(b)

• 38 Number of securities for which +quotation is sought

• 39 Class of +securities for which quotation is sought

• 40 Do the[+] securities rank equally in all respects from the date of allotment with an existing[+] class of quoted +securities? If the additional securities do not rank equally, please state: • the date from which they do • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

• • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

41 Reason for request for quotation now

Example: In the case of restricted securities, end of restriction period

(if issued upon conversion of another security, clearly identify that other security)

42 Number and[+] class of all[+] securities quoted on ASX ( including the securities in clause 38)

• See chapter 19 for defined terms.

Appendix 3B Page 6

1/1/2003

Quotation Agreement

• 1 +Quotation of our additional +securities is in ASX’s absolute discretion. ASX may quote the +securities on any conditions it decides.

• 2 We warrant the following to ASX.

• The issue of the[+] securities to be quoted complies with the law and is not for an illegal purpose.

• There is no reason why those[+] securities should not be granted[+] quotation.

• An offer of the[+] securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any[+] securities to be quoted and that no-one has any right to return any[+] securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the[+] securities be quoted.

• We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the[+] securities to be quoted, it has been provided at the time that we request that the[+] securities be quoted.

• If we are a trust, we warrant that no person has the right to return the[+] securities to be quoted under section 1019B of the Corporations Act at the time that we request that the[+] securities be quoted.

• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

• 4 We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before[+] quotation of the[+] securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign Here: Company Secretary

Date: Wednesday 4th June 2008

Print Name: Phillip Hains

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The CFO Solution

04/06/2008

• See chapter 19 for defined terms.

www.thecfo.com.au

Appendix 3B Page 7

1/1/2003

Annexure – 1

Top 20 holders of Fully Paid Ordinary Shares (JUT) as at 3 June 2008

Rank	Name	Units	%
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	ARGONAUT EQUITY PTNRS PL KHAN AYAZ BURTON CRAIG IAN LIBERTY MINING LTD ONSLOW MINERALS LTD OSTLE INV PL STRAIGHT INV SA SEASPIN PL AT GROWTH EQUITIES SDN BH AFM PERSEUS FUND LTD KYLA PL KEY INTNL PL KHAN AFIA J TAYLOR NOM PL BARNES GREGORY BENNETT TSC ENTPS SDN BHD MINEMAKERS LTD GEACH CYRIL LESLIE GPI MGNT SVCS PL SIEW MEI KOUNG	4,764,483 4,735,498 4,177,048 4,000,000 3,885,728 3,307,856 2,266,667 2,000,001 2,000,000 1,725,683 1,500,000 1,313,527 826,667 666,667 666,667 614,572 533,334 533,334 527,279 480,000	7.31 7.27 6.41 6.14 5.96 5.08 3.48 3.07 3.07 2.65 2.3 2.02 1.27 1.02 1.02 0.94 0.82 0.82 0.81 0.74
Top 20 holders of Fully Paid Ordinary Shares		40,525,011	62.20
Remainder		24,648,719	37.80
Total Fully Paid Ordinary Shares		65,173,730	100.00

Distribution Schedule of Fully Paid Ordinary Shares (JUT) as at 3 June 2008

**Spread of Holdings **	Holders	Units	%
1 - 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over	4 23 53 249 91	9 84,989 473,229 9,470,047 55,145,456	0.00 0.13 0.73 14.53 84.61
Total	420	65,173,730	100.00

• See chapter 19 for defined terms.

Appendix 3B Page 8

1/1/2003

Top 20 holders of Listed Options (JUTOA) as at 3 June 2008

(Exercisable at 10 cents on or before 15 June 2009)

Rank	Name	Units	%
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20	ARGONAUT EQUITY PTNRS PL BURTON CRAIG IAN AFM PERSEUS FUND LTD LIBERTY MINING LTD ARGONAUT INV PL ONSLOW MINERALS LTD OSTLE INV PL TSC ENTPS SDN BHD STRAIGHT INV SA SEASPIN PL AT GROWTH EQUITIES SDN BH KEY INTNL PL TAN HIN CHIANG HLDGS SDN HOUSTON NOM PL KEENIHAN S L + S J KHAN AFIA GPI MGNT SVCS PL J TAYLOR NOM PL BARNES GREGORY BENNETT MINEMAKERSLTD	3,112,649 2,858,548 1,029,350 1,000,000 1,000,000 971,432 827,001 614,572 566,667 500,001 500,000 328,382 323,952 307,285 307,285 206,667 192,195 166,667 166,667 133,334	17.02 15.63 5.63 5.47 5.47 5.31 4.52 3.36 3.1 2.73 2.73 1.8 1.77 1.68 1.68 1.13 1.05 0.91 0.91 0.73
Top 20 holders of Listed Options		15,112,654	82.63
Remainder		3,180,779	17.37
Total Listed Options		18,293,433	100.00

Distribution Schedule of Listed Options (JUTOA) as at 3 June 2008

**Spread of Holdings **	Holders	Units	%
1 - 1,000	3	2,111	0.01
1,001 -5,000	31	112,373	0.61
5,001 - 10,000	24	194,003	1.06
10,001 - 100,000	66	2,576,080	14.08
100,001and over	24	15,408,866	84.24
Total	148	18,293,433	100.00

• See chapter 19 for defined terms.

Appendix 3B Page 9

1/1/2003