DEVELOP GLOBAL LIMITED — Interim / Quarterly Report 2008

Mar 11, 2008

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“and it’s controlled entities”

ABN: 28 122 180 205

Appendix 4D Interim Financial Report

For The Half Year Ended 31 December 2007

(previous corresponding period: half year ended 31 December 2006)

This document should be read in conjunction with the annual report of Jutt Holdings Limited for the year ended 30 June 2007

TABLE OF CONTENTS

RESULTS FOR ANNOUNCEMENT TO THE MARKET ........................................................ 1 DIRECTORS' REPORT ........................................................................................................ 2 AUDITOR’S INDEPENDENCE DECLARATION ................................................................. 15 CONSOLIDATED INCOME STATEMENT .......................................................................... 16 CONSOLIDATED BALANCE SHEET ................................................................................. 17 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY .............................................. 18 CONSOLIDATED CASH FLOW STATEMENT ................................................................... 19 NOTES TO THE FINANCIAL STATEMENTS ..................................................................... 20 DIRECTORS’ DECLARATION............................................................................................ 22 INDEPENDENT AUDITOR’S REVIEW REPORT................................................................ 23 CORPORATE DIRECTORY ............................................................................................... 25

RESULTS FOR ANNOUNCEMENT TO THE MARKET

Reporting period

Current Reporting Period - Half year Ended 31 December 2007 Previous Reporting Period - Half year Ended 31 December 2006

	Change	Change ($A)		$A
Revenues from ordinary activities	up	$62,094	to	$62,946
Loss from ordinary activities after tax attributable to members	up	($794,560)	to	($881,777)
Net loss for the period attributable to members	up	($794,560)	to	($881,777)

Dividends (distributions)

It is not proposed to pay a dividend

Net Tangible Asset per Security (cents per security)
As at 31 December 2007	2.50
As at 31 December 2006	0.64

Commentary on results

The Company was incorporated on 13 October 2006, therefore previous reporting period was from 13 October 2006 to 31 December 2006.

The group's net consolidated loss for the half-year was $881,777(2006:$87,217) representing a significant increase compared to the previous period. The increase for the half-year being associated with the commencement of the exploration activities on the company's tenements, costs associated with the administration of the company and additional compliance costs incurred during the period.

Changes in control over group entities

During the period Jutt Holdings Limited's ownership interest in Juranium Ltd was reduced by 14% to 86%. The company retains control over Juranium Ltd.

Unaudited financial information

The information contained in this report is unaudited. The financial report for the half-year ended 31 December 2007 has been reviewed by the Company's auditors.

JUTT HOLDINGS LIMITED 1

DIRECTORS' REPORT

Your Directors present their report on the consolidated entity consisting of Jutt Holdings Limited and the entities it controlled at the end of, or during, the half year ended 31 December 2007.

DIRECTORS

The following persons were directors of Jutt Holdings Limited during the whole of the halfyear and up to the date of this report:

Charles Morgan Non-Executive Chairman Ayaz Khan Managing Director Cyril Geach Executive Exploration Director

REVIEW OF OPERATIONS

HALF YEAR HIGHLIGHTS

ONSLOW PROJECT: near Onslow in the West Pilbara region of Western Australia

At the Onslow Project a pre-JORC estimation of resource has been determined from historical drilling. Reverse circulation (RC) and Diamond (DDH) drilling is planned to outline a JORC resource in 2008.

• 15.9% Pb (lead) intercept and a buried electromagnetic anomaly with Pb mineralisation confirmed from RC drilling.

• 7 metres intercept @ 6.4% Pb, 28 g/t Silver (Ag), 0.23% Copper (Cu), 0.25% Zinc (Zn)

• Pb mineralisation from audit RC drill hole confirms historical drill results.

• Diamond drilling – a stratigraphic DDH drill hole with visual mineralisation is confirmed as Pb with Zn mineralisation – awaiting further laboratory results on additional core samples.

• Further RC and DDH drilling planned for the 1&2Q/08.

LIBERTY INDEE PROJECT: near Whim Creek in the West Pilbara region of Western Australia

At the Evelyn Prospect a JORC resource is planned for 2008. EM targets exist and outlined for future drilling. Remnant magnetic anomaly R1 remains a potential nickel target. Magnetic BIF was discovered in nearby Copper Mine Range. RC drilling has been delayed owing to adverse weather conditions and drilling has now been re-arranged to as soon as possible, once a drill rig is available.

JUTT HOLDINGS LIMITED 2

• High grade copper to 20% and zinc to 13% were recovered from one drill hole with a 10 metre intercept averaging 6.45% copper, 3.24% zinc, 1.05% lead, 0.86g/t gold and 67 g/t silver between 33-43m for drill hole JER006.

• Grades of significance were repeated in another drill hole along strike with a 6 metre intercept averaging 1.5% copper, 2.8% zinc, 0.53% lead, 0.62 g/t gold and 40 g/t silver between 46-52m (DDH: JER008) and similar poly-metallic mineralisation confirmed in two other drill holes (JER003,004).

• A 210 metre strike of Cu-Zn-Pb-Au-Ag mineralisation has been interpreted to date

• A second RC drilling program is scheduled to begin as soon as possible to outline a JORC code resource definition on its Evelyn Prospect.

• RC drilling has been delayed owing to adverse weather conditions and drilling has now been re-arranged to occur as soon as possible, once a suitable drill rig is available.

TAY MUNGLINUP PROJECT: near Ravensthorpe in the SW of Western Australia

Ni –Cu-Au-U Type Airborne Anomalies Outlined:

Jutt Holdings Limited has an option to acquire 60% equity in the Tay-Munglinup Nickel Project to ASX-listed Minemakers Limited (“Minemakers”). Approximately 2050 line kilometres of an airborne electromagnetic (EM) survey has been flown with the SkyTEM system of Geoforce Pty Ltd which has successfully outlined worthy follow up targets.

SkyTEM data have been interpreted in conjunction with regional GSWA aeromagnetic and radiometric data.

• Interpretation of a 2050 line kilometre electromagnetic (EM) survey has indicated approximately 30 EM anomalies of interest which show potential for sulphide Ni-Cu-Au type targets.

• A number of near surface palaeo-channels have been identified throughout the survey area which are potentially prospective for roll-front style uranium mineralisation. Weak uranium-channel radiometric anomalies are associated with some of the mapped palaeo-channels.

• Companies such as Uranex NL, Image Resources, Australian Mineral Fields / Teck Cominco and BHP Billiton Nickel / QNI Western Australia hold tenements adjacent to the option area held by Jutt.

JUTT HOLDINGS LIMITED 3

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Figure 1: Location Map Of Jutt Holdings Limited WA Projects

HALF YEAR REVIEW 3&4Q/2007

JORC Resource Definition Drilling Planned 2008: Evelyn Prospect

Jutt has progressed towards proving a JORC resource at its Evelyn Prospect on its Liberty Indee Project with the report of significant RC drill results in the 4Q/07. Further drilling is programmed for 2008 with an RC drill rig planned to extend deeper and wider drilling at the Evelyn Prospect. The Company will be able to announce a JORC resource definition from the second round of infill drilling. The Evelyn prospect is currently defined as a Cu-Zn-Pb-Ag-Au mineralised ore body of 210 metres extent open ended at depth and along strike with lesser grade Cu-Zn and Zn mineralised parallel lodes.

JUTT HOLDINGS LIMITED 4

Table 1: Evelyn Prospect – Liberty Indee Project: Best results from initial RC drilling (60 deg declination NQ drill bit) - 4Q/07 are as follows:

Drill Hole	Intercept	Cu %	Zn%	Pb%	Au g/t	Ag g/t
JER003	53-54 (1m) EOH	1.0	2.55	0.51	0.45	42
JER004	5-8 (3m)	1.55	1.1	0.32	1.9	14.7
JER005	5-21 (16m)		0.68
JER006	33-43 (10m)	6.45	3.24	1.05	0.86	67
JER007	17-27 (10m)	0.12	0.27
JER008	46-52 (6m)	1.5	2.8	0.53	0.62	40
JER008	25-35 (10m)	0.15	0.2
JER009	10-20 (10m)	0.1	0.48

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Figure 2: Liberty - Indee Project – Evelyn Prospect - 2007 RC Drill Holes And Results

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Figure 3: Evelyn Prospect - 2007 RC Drill Holes NE enlargement

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Figure 4: Evelyn Prospect - 2007 RC drill holes sectional interpretation of stopes

JUTT HOLDINGS LIMITED 6

JORC Resource Definition Drilling Planned In 2008: Range Prospect

At the Company’s Onslow Project, both RC and DDH drilling at the Range Prospect have confirmed the occurrence of Pb-Zn-Ag mineralisation associated with an EM anomaly and historical Pb workings.

RC drilling in the 4Q/07 has confirmed historical Pb-Ag mineralisation.

DDH drilling in the 4Q/07 has confirmed Pb-Zn-Ag mineralisation associated with a previously unidentified EM anomaly.

The Company is highly encouraged by the RC and DDH drilling to date, giving confidence that future RC drilling planned for 1&2Q/08 will be able to reproduce the historical drilling results to determine a JORC resource.

Table 2: Range Prospect: Results from initial RC drilling (60 deg declination NQ drill bit) and initial diamond core assays are as follows:

Drill Hole	Intercept	Pb %	Ag g/t	Cu%	Zn%
RAR004	35-36	6.9	15	0.16	0.88
RC Drilling	36-37	6.4	20	0.13	0.03
Historical	37-38	4.7	30	0.53	0.03
Workings	38-39	15.9	75	0.41	0.26
	39-40	6.0	30	0.2	0.08
	40-41	2.9	15	0.1	0.09
	41-42	2.0	10	0.05	0.36
Averaged	7m @	6.4	28	0.23	0.25
RAR002 EM anomaly	69-70	3.6	20	0.06	0.53
DDDH – RP1 Diamond Drill	44.02- 44.45	2.99	32	<0.05	7.14

JUTT HOLDINGS LIMITED 7

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Figure 5: Onslow Project – Range Prospect - Audit RC Drill Hole (in blue)

Geophysics Has Played A Significant Role To Date:

Approximately 2,650 line kilometres of airborne electromagnetic (EM) surveys have been flow at the company’s Onslow Cu-Pb-Ag, Liberty – Indee Cu-Zn-Pb-Ag-Au and Tay – Munglinup Ni-Cu-Au-U projects.

The Electromagnetic (EM) survey technique has proven to be a versatile tool in discovering and outlining drill identified mineral targets.

Liberty Indee Project

Deep seated highly rated conductors found: Numerous deep seated highly rated VTEM (Versatile Time Electromagnetic) conductor anomalies are identified along a 6 kilometre corridor and remain to be determined. Initial exploratory RC drilling has allowed drill holes ready for down-hole EM surveying techniques to better define the exact location and extent of these buried anomalies before further drill testing.

JUTT HOLDINGS LIMITED 8

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Quarmb
Evelyn
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An EM anomaly occurs over mineralised Evelyn prospect: A mineralised system at the Evelyn prospect occurs over an EM anomaly with several similar style anomalies occurring that will need to be further drill tested.

• The airborne data has outlined a number of priority targets with initial success in drilling into base metals at the Liberty – Indee project with numerous untested targets that remain to be drilled in the future.

• Remnant magnetic target R1 remains to be drilled.

JUTT HOLDINGS LIMITED 9

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Figure 6: The R1 anomaly with associated zinc rich chromites indicates the potential for nickel bearing mineralisation of the type found in nickel bearing serpentinite (an ultrabasic rock type), such as zinc rich chromites found at Outokumpu, Finland. An exploration licence application 47/1830 covering 110 blocks (approx. 275 square kilometres) was taken out on the basis that the R1 magnesian chromites show diamond inclusion type affinity. Jutt, subject to tenement grant, intends to farm this out as a diamond exploration project whilst retaining an interest for base metals.

Table 3: R1 Magnetic Anomaly:

Zinc rich chromites from R1 (microprobe core analysis in % amounts):

TiO2	Al2O3	Cr2O3	Fe2O3	V2O3	ZnO	FeO	MnO	MgO
1.28	15.68	45.01	0.00	0.30	9.94	26.54	1.10	0.00
0.20	14.34	45.67	0.00	0.00	2.88	35.21	0.61	0.33
0.30	15.32	45.67	0.00	0.29	3.57	32.07	1.98	0.47
0.50	17.55	41.29	0.00	0.00	1.54	35.65	2.49	0.39
0.13	9.77	52.25	0.00	0.00	0.82	31.31	4.16	0.87
0.30	15.06	45.83	0.00	0.00	2.91	32.52	2.21	0.00
0.33	17.32	43.10	0.00	0.00	6.08	29.72	2.74	0.33

JUTT HOLDINGS LIMITED 10

Table 4: R1 Magnetic Anomaly: Magnesian rich chromites from R1 (microprobe core analysis in % amounts):

TiO2	Al2O3	Cr2O3	Fe2O3	V2O3	MgO	FeO
0.28	18.32	50.64	0.00	0.00	15.12	14.48
0.18	8.95	59.85	0.00	0.00	12.79	17.48
0.28	8.90	58.17	0.00	0.00	10.88	21.06
0.30	18.32	50.72	0.00	0.29	14.74	15.07
0.18	17.98	48.64	0.00	0.34	11.55	20.02
0.30	18.63	45.03	0.00	0.00	13.48	22.08
0.43	16.51	50.18	0.00	0.00	12.36	19.55
0.33	21.02	43.61	0.00	0.00	11.00	23.30
0.32	17.34	51.80	0.00	0.00	14.08	15.68

Onslow project Range and Turtle prospect

EM anomalies occur with success in outlining Pb-Zn-Ag mineralisation is highly encouraging.

• The stage is set to conduct further RC drilling and DDH drilling over the copper rich Turtle prospect in 1&2Q/08

• RC drilling in combination with DDH core drilling will enable calibration of the RC drill returns at both Range and Turtle prospects

• JORC resource outline planned in 2008

Tay Munglinup Project

Finalisation of a 4Q/07 airborne EM survey has outlined a number of EM targets associated with radiometric and magnetic anomalies from an earlier airborne survey. The targets of greatest interest will need to be followed up in 2008.

• A large number of electromagnetic anomalies have been identified. Approximately 30 of these are considered to be due to bedrock conductors, and could potentially be associated with massive sulphide mineralization or graphitic units. The vast majority of anomalies appear to be associated with regolith features and palaeodrainages.

• The most convincing bedrock conductor occurs in the south of the SkyTEM survey area, and has an approximate strike extent of 500 m. The conductor has a moderate

JUTT HOLDINGS LIMITED 11

dip towards the northwest. The strongest anomaly from this conductor has a time constant of ~2.5 ms, indicating a good-quality conductor.

• A number of other bedrock conductors, particularly within the southern part of Area 4 (Figure 3 below) are located in close proximity to major contacts or structures identified from regional aeromagnetic data. Their favourable magnetic setting means these anomalies should be given high priority for future follow-up.

• Palaeodrainages have been identified within all five SkyTEM survey areas, with the largest palaeochannel system closely associated with Lake Tay in the north of the survey area. In some cases, electromagnetic anomalies are closely associated with modern drainages, and likely indicate palaeo-channels at depth beneath modern creeks and rivers. A number of anomalies are not associated with any modern drainage. These have been interpreted as palaeo-channels based on their dendritic or sinuous nature, and because they cross-cut the known geological strike indicated by regional magnetic data.

• The palaeo-channels identified by the SkyTEM survey may be prospective for rollfront style uranium, particularly where ground-waters within the channels have been in contact with known areas of uranium anomalism or uranium-radiogenic granites.

• A number of the palaeo-channels identified by the SkyTEM survey are associated in part with weak uranium-channel (Bi-214) radiometric anomalies. The radiometric anomalies measured during airborne surveying are sourced from the very near surface (< 30 cm depth). The absence of uranium anomalies associated with the mapped palaeo-channels does not preclude the presence of deeper ‘blind’ uranium mineralization.

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Magnetic anomaly that has
associated
EM responses associated with a dyke
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Figure 7: Tay Munglinup Area 4 Magnetic Anomalies With EM Responses

JUTT HOLDINGS LIMITED 12

Other Projects

• Tarrawarra

This tenement was granted on 31 December 2007 and in 2008 a survey will be conducted to test the prospectivity as outlined in the Company’s 2007 listing prospectus. The Tarrawarra project is a base metal shear zone target.

• Kooline

This tenement has been explored in the first year and found that there remains scope to explore the SW portion of the Tenement which is along strike from the historical Kooline Pb-Ag workings immediately west. The SW portion is a lacustrine system recommended to be drilled thereby requiring the availability of a suitable drill rig in the locality.

JURANIUM LIMITED

Juranium Limited in its own right has pegged tenements comprising seven exploration licences covering approximately 3,100 square kilometres in the north east Canning Basin in the Kimberley Mineral Field of Western Australia.

A majority of the tenements have been recommended for granting, with one tenement remaining to be decided owing to part of it falling within an Aboriginal Reserve area.

Juranium Limited has also entered into agreements to acquire an unlisted company that has secured a number of exploration tenements in South Australia and is subject to Juranium listing on the ASX in the second quarter of 2008.

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Jutt remains committed to being a base metal explorer and aspiring future base metal miner.

CORPORATE

Non Renounceable Entitlements Issue of Options: The Company, during the 3Q/07 raised $347,842 before costs by issuing 34,784,237 one cent options exercisable at 20 cents on or before 31 July 2009 pursuant to a 4:5 non renounceable entitlement issue.

JUTT HOLDINGS LIMITED 13

EVENTS SUBSEQUENT TO REPORTING DATE

The Company's subsidiary Juranium Limited plans to float on the ASX in the second quarter of 2008. In the event of a successful Initial Public Offering (IPO) and listing of Juranium, Jutt Holdings Limited's ownership interest in Juranium will be further diluted.

There are no other material subsequent events that have not been disclosed in this report.

AUDITORS’ INDEPENDENCE DECLARATION

A copy of the auditors' independence declaration as required under section 307C of the Corporations Act 2001 is set out on the following page.

This report is made in accordance with a resolution of Directors.

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Ayaz Khan Managing Director

Melbourne Dated: 12 March 2008

The information in this report 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 .

JUTT HOLDINGS LIMITED 14

AUDITOR’S INDEPENDENCE DECLARATION

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12 March 2008

The Board of Directors Jutt Holdings Limited Suite 1, 1233 High Street ARMADALE VIC 3143

Dear Board Members

AUDITOR’S INDEPENDENCE DECLARATION IN ACCORDANCE WITH SECTION 307C OF THE CORPORATIONS ACT 2001 TO THE DIRECTORS OFJUTT HOLDINGS LIMITED

In accordance with section 307C of the Corporations Act 2001, I am pleased to provide the following declaration of independence to the directors of Jutt Holdings Limited.

As lead audit partner for the review of the financial report of Jutt Holdings Limited for the half-year ended 31 December 2007, I declare that to the best of my knowledge and belief, there have been no contraventions of:

• (i) the auditor independence requirements of the Corporations Act 2001 in relation to the review; and

• (ii) any applicable code of professional conduct in relation to the review.

Yours sincerely

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Jeffrey Luckins Director Webb Audit Pty Ltd

Dated in Melbourne, Australia on this 12[th] day of March 2008

Webb Audit Pty Ltd A member of the Webb Group ABN 59 116 151 136 465 Auburn Road Hawthorn East Vic 3123 Australia PO Box 185 Toorak Vic 3142 Australia Telephone +61 3 9822 8686 Facsimile +61 3 9824 8578 audit@webbgroup.com.au www.webbgroup.com.au

JUTT HOLDINGS LIMITED 15

CONSOLIDATED INCOME STATEMENT

FOR THE HALF YEAR ENDED 31 DECEMBER 2007

31 December 2007 $ Revenue 62,946 Administrative Expense (154,794) Corporate and Consulting Expenses (276,856) Depreciation (2,354) Directors Fees (236,978) Exploration & Evaluation Expense (283,002) Impairment loss - goodwill on business combination - LOSS BEFORE INCOME TAX (891,038) INCOME TAX EXPENSE - LOSS FOR THE PERIOD (891,038) LOSS ATTRIBUTABLE TO MINORITY INTEREST 9,261 LOSS ATTRIBUTABLE TO MEMBERS OF THE PARENT ENTITY (881,777) Cents Basic loss per share (2.04) Diluted loss per share (2.04) The accompanying notes form part of these financial statements. Loss per share attributable to the ordinary equity holders of the company:	31 December 2006 $
	852 (10,797) (4,710) - - (14,954) (57,608)
	(87,217)
	-
	(87,217)
	-
	(87,217)
	Cents
	(3.38) (3.38)

JUTT HOLDINGS LIMITED 16

CONSOLIDATED BALANCE SHEET

AS AT 31 DECEMBER 2007

Note CURRENT ASSETS Cash and cash equivalents Trade and other receivables Other TOTAL CURRENT ASSETS NON-CURRENT ASSETS Plant and equipment Exploration and evaluation costs TOTAL NON-CURRENT ASSETS TOTAL ASSETS CURRENT LIABILITIES Trade and other payables Financial liabilities Provisions TOTAL CURRENT LIABILITIES NON-CURRENT LIABILITIES Provisions TOTAL NON-CURRENT LIABILITIES TOTAL LIABILITIES NET ASSETS EQUITY Issued capital 5 Accumulated Losses Total parent entity interest in equity Minority interest TOTAL EQUITY	1,703,444 26,655 11,077 1,860,266 31,537 - 772,230 719 4,507,267 (9,305) 130,167 31 December 2007 4,497,962 3,399,568 740,693 3,410,645 5,270,911 719 772,949 (1,651,903) 6,159,170 4,497,962 $	30 June 2007 $
		2,971,891 23,951 27,042
		3,022,884
		2,155,951 13,431
		2,169,382
		5,192,266
		5,274 200,000 103,573
		308,847
		124
		124
		308,971
		4,883,295
		5,653,421 (770,126)
		4,883,295
		-
		4,883,295

The accompanying notes form part of these financial statements.

JUTT HOLDINGS LIMITED 17

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

FOR THE HALF YEAR ENDED 31 DECEMBER 2007

	Issued Capital $	Accumulated Losses $	Total of Consolidated Entity $	Minority Interest $	Total $
Balance at 30 June 2006 Shares issued net of costs Net (Loss) for the period	- 243,723 -	- - (87,217)	- 243,723 (87,217)	- - -	- 243,723 (87,217)
Balance at 31 December 2006	243,723	(87,217)	156,506	-	156,506
Shares issued net of costs Options issued net of costs Net (Loss) for the period	5,201,322 208,376 -	- - (682,909)	- 5,201,322 208,376 (682,909)	- - -	5,201,322 208,376 (682,909)
Balance at 30 June 2007	5,653,421	(770,126)	4,883,295	-	4,883,295
Shares issued net of costs Options issued net of costs Net (Loss) for the period	72,103 433,646 -	- - (881,777)	- 72,103 433,646 (881,777)	(44) - (9,261)	72,059 433,646 (891,038)
Balance at 31 December 2007	6,159,170	(1,651,903)	4,507,267	(9,305)	4,497,962

The accompanying notes form part of these financial statements.

JUTT HOLDINGS LIMITED 18

CONSOLIDATED CASH FLOW STATEMENT

FOR THE HALF YEAR ENDED 31 DECEMBER 2007

CASH FLOWS RELATED TO OPERATING ACTIVITIES Payments to suppliers and employees Interest received NET OPERATING CASH FLOWS CASH FLOWS RELATED TO INVESTING ACTIVITIES Payment for purchases of mining tenements Payment for deferred exploration expenditure Payment for purchases of controlled entity, net of cash acquired NET INVESTING CASH FLOWS CASH FLOWS RELATED TO FINANCING ACTIVITIES Proceeds from issues of securities Capital raising costs NET FINANCING CASH FLOWS NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS Cash and cash equivalents at the beginning of the half year CASH AND CASH EQUIVALENTS AT THE END OF THE HALF YEAR	31 December 2007 $ (574,076) 62,981 (511,095) (133,530) (1,024,087) - (1,157,617) 434,172 (33,907) 400,265 (1,268,447) 2,971,891 1,703,444	31 December 2006 $
		(11,696) 852
		(10,844)
		- - 86,529
		86,529
		30,030 (17)
		30,013
		105,698
		-
		105,698

The accompanying notes form part of these financial statements.

JUTT HOLDINGS LIMITED 19

NOTES TO THE FINANCIAL STATEMENTS

Note 1. Basis of Preparation

Reporting entity

Jutt Holdings Limited is a company domiciled in Australia. The consolidated interim financial report of the company as at and for the six months ended 31 December 2007 comprises the company and its subsidiaries (together referred to as the "consolidated entity"), Jutt Resources Pty Ltd and Juranium Limited.

Statement of compliance

The general purpose financial report for the interim half year reporting period ended 31 December 2007 has been prepared in accordance with Accounting Standard AASB 134: Interim Financial Reporting, Australian Accounting Interpretations and other authoritative pronouncement of Australian Accounting Standards Board and the Corporations Act 2001.

This half year financial report does not include all notes of the type normally included in an annual financial report and therefore cannot be expected to provide as full an understanding of the financial performance, financial position and financing and investing activities of the entity as the full financial report.

Accordingly, this report is to be read in conjunction with the annual report for the year ended 30 June 2007 and any public announcements made by Jutt Holdings Limited during the interim reporting period in accordance with the continuous disclosure requirements of the Corporations Act 2001.

Significant accounting policies

The accounting policies have been consistently applied by entities in the consolidated group and are consistent with those in the Company's Annual Financial Report for the year ended 30 June 2007.

The half year report has been prepared on accrual basis and is based on historical costs modified by the revaluation of selected non-current assets, financial assets and financial liabilities for which the fair value basis of accounting has been applied.

Accounting Standards include Australian equivalents to International Financial Reporting Standards (A-IFRS). Compliance with A-IFRS ensures that the financial statements and notes of the entity comply with International Financial Reporting Standards.

Note 2. Dividends

The company resolved not to declare any dividends in the period ended 31 December 2007.

Note 3. Segment Information

During the half year ended 31 December 2007 and 31 December 2006, the Company was engaged entirely in the mining and exploration industry in Australia.

Note 4. Contingent Liabilities

There has been no significant change in contingent liabilities since the last annual reporting date.

JUTT HOLDINGS LIMITED 20

Note 5. Issued Capital

Issued and Paid Up Capital Fully Paid Ordinary Shares Options over Fully Paid Ordinary Shares Dilution of share ownership in Juranium due to new share issue Total Issued Capital	No. $ No. $ 43,880,297 5,516,334 43,480,297 5,445,045 38,541,385 642,022 1,957,148 208,376 814 - 6,159,170 5,653,421 30 June 2007 31 December 2007

During the half year ended 31 December 2007, the following movements in equity occurred:	During the half year ended 31 December 2007, the following movements in equity occurred:
Shares	No.
21/08/2007 Issue of Shares to aquire interest in the Tay-Munglinup Project	400,000
Options	No.
21/08/2007 Issue of Options to aquire interest in the Tay-Munglinup Project	300,000
10/09/2007 Issue of Listed Options under 4:5 Rights Issue	34,784,237
21/12/2007 Issue of Unlisted Options to consultants	1,500,000
Total	36,584,237

Note 6. Events Subsequent to Reporting Date

The Company's subsidiary Juranium Limited plans to float on the ASX in the second quarter of 2008. In the event of a successful Initial Public Offering (IPO) and listing of Juranium, Jutt Holdings Limited's ownership interest in Juranium will be further diluted.

There are no other material subsequent events that have not been disclosed in this report.

JUTT HOLDINGS LIMITED 21

DIRECTORS’ DECLARATION

The Directors' of the company declare that:

1. The financial statements and notes, as set out on pages 16 to 21

2. (a) comply with Accounting Standard AASB 134: Interim Financial Reporting and the Corporations Regulations; and

(b) give a true and fair view of the economic entity's financial position as at 31 December 2007 and of its performance for the half-year ended on that date.

1. In the Directors' opinion there are reasonable grounds to believe that the company will be able to pay its debts as and when they become due and payable.

This declaration is made in accordance with a resolution of the Board of Directors.

On behalf of the Directors

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Ayaz Khan Managing Director

Dated: 12 March 2008

JUTT HOLDINGS LIMITED 22

INDEPENDENT AUDITOR’S REVIEW REPORT

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INDEPENDENT AUDITOR’S REVIEW REPORT TO THE MEMBERS OF

JUTT HOLDINGS LIMITED ABN 28 122 180 205

Report on the Interim Financial Report

We have reviewed the accompanying interim financial report of Jutt Holdings Limited and the entities it controlled during the period, which comprises the balance sheet as at 31 December 2007, income statement, statement of changes in equity and cash flow statement for the half-year ended on that date, a statement of accounting policies, other selected explanatory notes and the directors' declaration.

Director’s Responsibility for the Interim Financial Report

The directors of the company are responsible for the preparation and fair presentation of the interim financial report in accordance with the Australian Accounting Standards (including the Australian Accounting Interpretations) and the Corporations Act 2001. This responsibility includes designing, implementing and maintaining internal controls relevant to the preparation and fair presentation of the interim financial report that is free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.

Auditor's Responsibility

Our responsibility is to express a conclusion on the interim financial report based on our review. We conducted our review in accordance with Auditing Standard on Review Engagements ASRE 2410 Review of an Interim Financial Report Performed by the Independent Auditor of the Entity , in order to state whether, on the basis of the procedures described, we have become aware of any matter that makes us to believe that the interim financial report is not in accordance with the Corporations Act 2001 including: giving a true and fair view of the consolidated entity’s financial position as at 31 December 2007 and its performance for the half-year ended on that date; and complying with Accounting Standard AASB134 Interim Financial Reporting and the Corporations Regulations 2001. As the auditor of Jutt Holdings Limited and the entities it controlled during the period, ASRE 2410 requires that we comply with the ethical requirements relevant to the audit of the annual financial report.

Webb Audit Pty Ltd ABN 59 116 151 136

A member of the Webb Group 465 Auburn Roads Hawthorn East Vic 3123 Australia PO Box 185 Toorak Vic 3142 Australia Telephone +61 3 9822 8686 Facsimile +61 3 9824 8578 audit@webbgroup.com.au www.webbgroup.com.au

JUTT HOLDINGS LIMITED 23

INDEPENDENT AUDITOR’S REVIEW REPORT TO THE MEMBERS OF

JUTT HOLDINGS LIMITED ABN 28 122 180 205 (Continued)

A review of an interim financial report consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Australian Auditing Standards and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Independence

In conducting our review, we have complied with applicable independence requirements of Australian professional ethical pronouncements and the Corporations Act 2001. We have given to the directors of the company a written Auditor’s Independence Declaration, a copy of which is included in the Directors’ Report.

Conclusion

Based upon our review, which is not an audit, we have not become aware of any matter that makes us believe that the interim financial report of Jutt Holdings Limited and the entities it controlled during the period is not in accordance with the Corporations Act 2001 , including:

• (i) giving a true and fair view of the consolidated entity's financial position as at 31 December 2007 and of its performance for the half-year ended on that date; and

• (ii) complying with Accounting Standard AASB134 Interim Financial Reporting and the Corporations Regulations 2001.

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Jeffrey Luckins Director Webb Audit Pty Ltd

Dated in Melbourne, Australia on this 12[th] day of March 2008

JUTT HOLDINGS LIMITED 24

CORPORATE DIRECTORY

DIRECTORS

Charles Morgan Non-Executive Chairman Ayaz Khan Managing Director Cyril Geach Executive Exploration Director

COMPANY SECRETARY

Phillip Hains

REGISTERED OFFICE

Suite 1 1233 High Street Level Armadale VIC 3143, Australia

PRINCIPLE PLACE OF BUSINESS

Level 1 35 Richardson Street West Perth WA 6005, Australia

SECURITIES QUOTED

Code: JUT Shares JUTO Options

AUDITORS

Webb Audit Pty Ltd 465 Auburn Road Hawthorn East, VIC 3123, Australia

SOLICITORS

Oakley Thompson & Co Level 19, 500 Collins Street Melbourne, VIC 3000, Australia

SHARE REGISTRY

Security Transfer Registrars Western Australia 6153, Australia Telephone (61 8) 9315 2333 Facsimile (61 8) 9315 2233 Email: registrar@securitytransfer.com.au

WEBSITE

www.juttholdings.com

JUTT HOLDINGS LIMITED 25