DEVELOP GLOBAL LIMITED — Capital/Financing Update 2008

Apr 21, 2008

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ABN 28 122 180 205 www.juttholdings.com

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ASX ANNOUNCEMENT (ASX Code: JUT)

22 April 2008

MASSIVE SULPHIDES CONFIRMED AT LIBERTY INDEE PLACEMENT & ENTITLEMENTS ISSUE TO RAISE $1.28 MILLION

Liberty-Indee Project Highlights

Potential new Volcanogenic Massive Sulphide Province

• 19 metres @ 2.6% Cu, 5.1% Zn, 0.5% Pb, 61gpt Ag, 1.3gpt Au

• 15 metres @ 1.8% Cu, 0.8% Zn, 0.2% Pb, 38 gpt Ag, 0.7gpt Au

• Massive sulphides previously confirmed

• 10 metres @ 6.4% Cu, 2.4% Zn, 67gpt Ag, 0.86gpt Au

• Open ended 6 metres @ 1.5% Cu, 2.8% Zn, 0.53% Pb, 40gpt Ag, 0.62gpt Au

• 300 metres of strike associated with disseminated Volcanogenic Massive Sulphide (VMS).

• VMS mineralisation associated with electromagnetic (VTEM) anomaly modelled beyond 200 metres depth extent for Evelyn (VMS drilled to 106m)

• Larger VMS target of 400 metres strike and 200 plus metres depth adjacent to Evelyn prospect to be tested

6 kilometres of strike containing 42 VTEM anomalies targeted for VMS style mineralisation

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Reverse Circulation (RC) drilling (160mm drill bit diameter at 60 degrees) has recently been conducted by Mount Magnet Drilling as a second phase of infill drilling on the poly-metallic (Cu-Zn-Pb-Ag-Au) Evelyn Prospect.

Preliminary results from RC drill holes JER020 and JER011 confirms continuation of massive sulphides at depth between 87-106m (19m drill length) and 85-100m (15 metre drill length) from earlier reported RC drilling.

Massive sulphide content between 87-106m averaging 72% sulphide ore including pyritic sulphides for JER020 defines a core of massive sulphide ore so far determined with true widths between 9.5m, 7.5m and 5.0m for drill holes JER020, JER011 and JER006 respectively and 3 metres true width (open ended drill hole) in JER008 over 40 metres lateral extent as part of a broader 300 metre system of mineralisation observed at surface and down dip from drilling.

Identified from drilling to date is a north stoping east dipping massive sulphide (VMS) and disseminated shoot of 120-150 metres extent varying between 5 to 25 metres width in the main body as well as including a halo extended beyond the massive sulphide core of disseminated sulphides. Future results will be modelled for a JORC resource estimate to include VMS and VMS disseminated ore.

Ground geophysics is being introduced to determine the continuation of the identified VMS system at greater depth to the drilling.

The VMS mineralisation at Evelyn is associated with an outlined electromagnetic anomaly (VTEM 9) target. Drilling of the VTEM geophysical anomaly at Evelyn defines a new volcanic massive sulphide discovery modelled by geophysics to occur beyond 200 metres in extent. To date, drilling has ended at 106 metres and still in mineralisation.

Geophysical modelling of EM targets from a 2007 airborne VTEM survey has confirmed a larger VMS target (VTEM 10,11) adjacent to the Evelyn Prospect of about 400 metres strike extent and modelled to 200 plus metres in vertical extent .

JER020	Cu %	Zn %	Pb %	Ag gpt	Au gpt	FeS %
87-88	1.00	13.60	0.92	50	0.50	48.1
88-89	2.98	19.30	2.05	110	1.20	56.9
89-90	4.33	10.30	0.98	95	2.00	80.6
90-91	3.50	6.66	0.93	85	1.05	95.4
91-92	1.55	6.23	0.12	50	1.14	89.2
92-93	2.78	**2.51 **	0.04	45	**1.91 **	95.3
93-94	1.70	5.27	0.36	60	1.38	86.6
94-95	2.13	0.95	0.29	45	1.50	46.6
95-96	3.37	0.67	0.08	55	1.70	37.6
96-97	4.38	0.81	0.15	70	1.03	32.8
97-98	**2.87 **	**1.07 **	0.64	65	0.88	39.3
98-99	5.10	2.90	0.70	110	1.92	71.8
99-100	1.86	5.16	0.27	50	**1.87 **	86.7
100-101	2.21	7.09	0.21	50	1.72	85.7
101-102	**1.61 **	9.79	0.67	55	**1.91 **	80.9
102-103	1.32	1.98	0.03	20	0.76	92.9
103-104	1.83	**1.32 **	0.02	30	0.78	90.2
104-105	**3.82 **	0.85	0.02	55	1.18	92.0
105-106	1.83	0.66	0.56	60	0.64	64.0

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JER011	Cu %	Zn%	Pb %	Ag gpt	Au gpt
85-86	0.55	**1.04 **	0.15	15	0.008
86-87	2.38	1.05	0.25	50	1.160
87-88	2.96	2.45	0.20	75	1.290
88-89	1.78	1.37	0.09	35	0.318
89-90	1.76	**1.01 **	0.23	50	0.455
90-91	4.55	0.92	0.05	70	3.290
91-92	2.14	0.19	0.10	40	1.210
92-93	1.55	0.20	0.04	20	0.365
93-94	1.82	0.36	0.08	30	0.613
94-95	0.87	0.08	0.11	15	0.387
95-96	1.15	0.40	0.11	45	0.285
96-97	0.39	0.37	0.12	10	0.098
97-98	0.87	0.98	0.19	15	0.133
98-99	2.59	0.93	0.60	70	0.775
99-100	1.30	0.96	0.25	30	0.518

JER012	Cu %	Zn%	Pb %	Ag gpt	Au gpt
77-78	0.94	0.19	0.03	15	0.22
78-79	1.14	0.29	0.06	15	0.23
79-80	0.76	0.74	0.07	20	0.19
80-81	0.45	0.48	0.03	0	0.15
81-82	2.39	2.52	0.19	40	1.10
82-83	1.08	6.38	0.52	35	0.90

Table 1 Evelyn RC drilling selected results from a second drilling episode - JER011, JER012 & JER020 (after Ultratrace Labs Perth / gpt = grams /tonne)

RC Drill Hole	Easting	Northing	Azimuth	Declination	Metres
JER005	588050	7666940	295	60	54
JER006	588060	7667997	295	60	54
JER007	588098	7667018	275	60	54
JER008	588083	7667018	275	60	54
JER009	588078	7666980	300	60	54
JER011	588067	7667080	160	60	134
JER012	588100	7667019	300	60	130
JER013	588116	7666998	290	60	190
JER014	588096	7666973	300	60	170
JER015	588070	7666936	315	60	156
JER016	588039	7666910	320	60	118
JER019	587998	7667030	140	60	168
JER020	588030	7667070	115	60	156
JER021	588065	7667098	105	60	172
JER022	588040	7667092	120	60	167
JER023	588066	7667105	085	60	186

Table 2 Evelyn RC drill hole information

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Figure 1B Evelyn RC drilling Phase 1 and Phase 2 drill holes of interest over VTEM 9 anomaly

New VMS Province Vision

VMS deposits are commonly found to occur in clusters within a field of several hundred square kilometres. The 2007 VTEM survey has outlined a field of 42 identified VTEM anomaly targets with promising conductor anomalies that predominantly occur along a six kilometre corridor representing an opportunity for VMS encountered at Evelyn (which is as an evolving model) to re-occur.

Exploratory RC drilling by Jutt has confirmed base metal mineralisation is associated with other VTEM targets, apart from Evelyn, which will require further deeper drilling in due course.

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The Evelyn Prospect is considered by Jutt to be a new Australian volcanogenic massive sulphide (VMS) poly-metallic style (Cu-Zn-Pb-Au-Ag) of mineralisation occurrence based on drill results and geochemistry to date.

Two phases of RC drilling at the Evelyn Prospect (23 RC drill holes for 2467m to date) has outlined VMS with the deepest being a 19m intersection of VMS identified in a 60 degree drill hole (JER20), so far confirmed to 106 metres, coincident with an identified 200 metre spaced airborne electromagnetic geophysical anomaly (VTEM 9), modelled to 200+ metres dip extent.

A further VTEM conductor (VTEM anomalies 10 and 11) has been modelled to extend for a strike of 400 metres to the north east of VTEM 9 and is either thought to be part of the Evelyn VMS system or a separate conductor.

Down hole and fixed loop ground geophysics are planned for late April 2008 to more accurately identify targets to drill test the identified VMS at Evelyn to greater depth (200m) and identify drill targets to test anomalies VTEM10 and VTEM11. Drilling will be planned thereafter to test the results of the geophysical survey.

Positive drilling results to date requires Jutt to carry out further drilling in the near future on Evelyn and other VTEM anomalies identified from the geophysical survey.

VMS style deposits worldwide are characteristically found in clusters. The Jutt VMS discovery at Evelyn and associated VTEM targets (42 in total) mostly along a 6 kilometre corridor offers potential that a number of the conductor anomalies identified by the VTEM survey are due to VMS mineralisation similar to that encountered at Evelyn.

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Figure 2 Liberty Indee Project VTEM Targets of interest (42) from a 2007 VTEM airborne Survey along a 6 kilometre corridor.

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----- Start of picture text -----

Red = Priority VTEM Targets
Evelyn drilling
400m VTEM
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Figure 3 Modelled VTEM Targets of interest (after Geoforce Pty Ltd) from a 2007 VTEM airborne Survey - Liberty Indee Project. Priority VTEM targets are shown in solid red superimposed over airborne magnetic drape looking from the SW. The Evelyn drilling of VTEM 9 is illustrated by drill lines. The solid red shapes outline superior conductor anomalies targeted as VMS style deposits to be drilled after further ground geophysics is carried out.

Kooline and Tarrawarra Projects:

The Company has entered into an option agreement with an unlisted, unrelated third party to acquire the Kooline and Tarrawarra Projects on or before 31 December 2008. Should the option be exercised, Jutt will benefit by a retained royalty, cash and shares.

Placement & Entitlements Issue

Jutt is pleased to advise that it has completed a placement of 5 million shares at $0.06 to raise $300,000 predominantly to Craig Burton, Argonaut Equity Partners and AFM Perseus Fund Limited.

In addition, the Company intends to proceed with an underwritten non renounceable entitlements issue to raise approximately $980,000 before costs. The terms of the issue are one (1) new share at an issue price of $0.06 for every three (3) shares held.

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In addition, for every share validly applied for, one option will be granted for no additional consideration. Based on the Company’s issued capital post the placement, approximately 16.33 million shares and options will be issued raising $980,000. The options will be exercisable at $0.10 on or before 15 June 2009. Jutt will apply for quotation of these options on ASX. Argonaut Capital Limited has agreed to conditionally underwrite the entitlements issue. The Company expects to lodge a prospectus with ASIC in due course.

Section 708A(5)(e) Notice

In accordance with sub-section 708A(5)(e) of the Act, the Company advises that it completed a placement of 5 million shares (as referred to above) on 22 April 2008 and as required by sub-section 708A(6) confirms that:

• i. Jutt issued securities without disclosure to investors under Part 6D.2 of the Act;

• ii. this notice is given pursuant to sub-section 708A(5)(e) of the Act;

• iii. as at the date of this Notice, Jutt has complied with:

• a) the provisions of Chapter 2M of the Act as they apply to Jutt; and b) section 674 of the Act; and

• iv. as at the date of this Notice, there is no information which is excluded information as defined in sub-sections 708A(7) and 708A(8) of the Act.

Company Meeting

Jutt intends to convene a general meeting of shareholders as soon as practicable to:

• i. respond to requests by shareholders to consider resolutions to appoint two directors (Ivor Findlay and David Archibald) and remove two directors (Charles Waite Morgan and Ayaz Khan) as disclosed on 17 April 2008; and

• ii. ratify previous issues of securities to refresh the Company’s 15% capacity under the ASX Listing Rules.

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 the rights to acquire major participating interests in three projects. Two projects occur in the Pilbara region of Western Australia, the Onslow and LibertyIndee Projects and the Tay Munglinup Project in the south west Ravensthorpe region.

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 Company is currently diamond core drilling on its Onslow project.

The Liberty-Indee Project consists of two granted exploration licences. A target generation study has identified highly ranked VTEM targets and other targets prospective for copper, lead, zinc, nickel and gold mineralisation with JORC resource drilling on its Evelyn Prospect in 2007 & 2008. High grade intersections of up to 20% copper and 19% zinc have been recovered. A 300 metre strike of Cu-Zn-Pb-Au-Ag mineralisation has been interpreted to date.

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Magnetic BIF (banded iron formation) has also been identified at the company’s neighbouring Copper Mine Range prospect which is a 10 kilometre strike length of sediments.

At the Tay Munglinup Project, bedrock conductors (15 priority from 30 selected anomalies), radiogenic granites, highly recommended U/Th anomalies, palaeochannels with potential for roll-front style uranium deposits have been identified.

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