DEVELOP GLOBAL LIMITED — Regulatory Filings 2007

Jul 22, 2007

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ABN 28 122 180 205 www.juttholdings.com

ASX ANNOUNCEMENT (ASX Code: JUT)

23 July 2007

UPDATE ON JUTT HOLDINGS ENTITLEMENTS ISSUE

Further to Jutt Holdings Limited (ASX:JUT) announcing an entitlements issue of four Options for every five Shares held in the company, Jutt Holdings is pleased to announce the notice to all shareholders will be issued shortly.

A recent amendment to the Corporations Act 2001 permits rights issues without a Product Disclosure Statement or Prospectus, if certain requirements are met and appropriate notice is given to the Australia Securities Exchange confirming that JUT has complied with its financial reporting and continuous disclosure obligations under the Corporations Act 2001.

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Jutt Holdings Managing Director Ayaz Khan said, “Due to the recent amendment in legislation, we intend to wait until we have been listed on the ASX for the required amount of time before issuing the entitlements, to avoid the costs associated with preparing a prospectus. We consider a letter to shareholders will provide sufficient information on the entitlements issue.”

The Options will be issued at a price of 1 cent and will be exercisable at 20 cents each on or before 31 July 2009, to raise approximately $346,000.

Mr Khan said the funds raised will be used for exploration expenditure on the TayMunglinup joint venture.

The Tay-Munglinup project area comprises approximately 540km[2] of prospective land following 120km of strike length of interpreted greenstone belt structure.

“We have arranged for an EM survey to be flown over three priority areas to evaluate the nickel potential of the priority targets,” Mr Khan said.

“We believe this new project is a very promising addition to our portfolio, given its proximity and similarity to the well-established Ravensthorpe nickel region,” Mr Khan said.

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 Limited Tel. +61 3 9824 5254 Fax. +61 8 9463 7836 Suite 1, 1233 High Street, Armadale VIC 3143, AUSTRALIA Email: admin@juttholdings.com

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Jutt Holdings has two projects in the Pilbara region of Western Australia, Onslow and Liberty-Indee Projects, both of which it has the rights to acquire major participating interests.

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 Liberty-Indee Project consists of two granted exploration licences. A target generation study has identified four highly ranked targets and another four targets prospective for gold mineralisation, one of which has the potential for copper, lead, zinc and gold mineralisation.

Jutt Holdings also has plans to explore the Kooline Project for high grade lead silver ore, and the Tarrawarra Application for silver and base metals associated within a structural corridor.

Jutt Holdings recently acquired an option from Minemakers Australia NL to earn an initial 60 per cent interest in three granted explorations licences near Ravensthorpe, called the Tay-Munglinup Project.

Visit: www.juttholdings.com