DEVELOP GLOBAL LIMITED — Capital/Financing Update 2008

May 29, 2008

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 issued 2 Number of+securities issued or to be issued (if known) or maximum number which may be issued 3 Principal terms of the+securities (eg, if options, exercise price and expiry date; if partly paid+securities, the amount outstanding and due dates for payment; if+convertible securities, the conversion price and dates for conversion)	a) Fully Paid Ordinary Shares (JUT) b) Listed Options (JUTOA – New Class)
	a) 10,285,349 b) 10,285,349 (1 for 1 attaching)
	a) Pari passu with existing ordinary shares b) Exercisable at 10 cents on or before 15 June 2009

• See chapter 19 for defined terms.

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• 4 Do the[+] securities rank equally in all a) Yes respects from the date of allotment b) Yes upon exercise 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

• 5 Issue price or consideration

a) $0.06 per share b) Nil (1:1 free attaching)

• 6 Purpose of the issue (If issued as consideration for the Refer to the company announcements released on 22 and 28 acquisition of assets, clearly identify April 2008 those assets)

• 7 Dates of entering[+] securities into 28 May 2008 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	48,101,829
	JUTO		34,784,237	$0.20	31/07/2009
	JUTOA		10,285,349	$0.10	15/06/2009
	Total	48,101,829	45,069,586

• See chapter 19 for defined terms.

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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.	No
	Non-renounceable
	One new share for every three shares
	Fully Paid Ordinary Shares (JUT)
	6 May 2008
	N/A
	Fractional entitlements will be rounded up to the nearest whole number
	N/A

• See chapter 19 for defined terms.

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	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?	22 May 2008
		Argonaut Capital Limited
		5% of the value of the Underwritten shares, plus grant the underwriter the right to apply for 2,000,000 options issued at $0.005 per Option exercisable at $0.10 on or before 15 June 2009.
		N/A
		N/A
		N/A
		N/A
		8 May 2008
		N/A
		N/A
		N/A
		N/A
		N/A
	32 How do +security holders dispose	N/A

• See chapter 19 for defined terms.

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of their entitlements (except by sale through a broker)?

33 +Despatch date 29 May 2008

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.

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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.

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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: Friday 30th May 2008

Print Name: Phillip Hains

The CFO Solution

www.thecfo.com.au

1. 1. 2008

2. See chapter 19 for defined terms.

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Annexure – 1

Top 20 holders of Listed Options (JUTOA) as at 30 May 2008

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

Rank	Name	Units	%
1	LIBERTY MINING LTD	1,000,000	9.72
2	ONSLOW MINERALS LTD	971,432	9.44
3	OSTLE INV PL	750,000	7.29
4	BURTON CRAIG IAN	583,334	5.67
5	STRAIGHT INV SA	566,667	5.51
6	ARGONAUT EQUITY PTNRS PL	527,778	5.13
7	SEASPIN PL	500,001	4.86
8	AT GROWTH EQUITIES SDN BH	500,000	4.86
9	KEY INTNL PL	328,382	3.19
10	AFM PERSEUS FUND LTD	277,778	2.70
11	KHAN AFIA	206,667	2.01
12	GPI MGNT SVCS PL	192,195	1.87
13	BARNES GREGORY BENNETT	166,667	1.62
14	J TAYLOR NOM PL	166,667	1.62
15	ARGONAUT EQUITY PTNRS PL	140,000	1.36
16	GEACH CYRIL LESLIE	133,334	1.30
17	MINEMAKERS LTD	133,334	1.30
18	SIEW MEI KOUNG	130,000	1.26
19	KHAN AYAZ	109,879	1.07
20	SIEW WOO MING	100,000	0.97
Top 20	holders of Listed Options	7,484,115	72.75
Remainder		2,801,234	27.25
Total Listed Options		10,285,349	100.00

Distribution Schedule of Listed Options (JUTOA) as at 30 May 2008

Spread of Holdings	Holders	Units	%
1 - 1,000	3	2,111	0.02
1,001 - 5,000	32	115,707	1.12
5,001 - 10,000	24	194,003	1.89
10,001 - 100,000	67	2,589,413	25.18
100,001 and over	19	7,384,115	71.79
Total	145	10,285,349	100.00

• See chapter 19 for defined terms.

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