ZIMI LIMITED — Capital/Financing Update 2008

Jun 15, 2008

==> picture [431 x 44] intentionally omitted <==

==> picture [59 x 7] intentionally omitted <==

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

ACN 113 326 524
----- End of picture text -----

Wind Hydrogen Limited Completes Due Diligence on its Kentucky Shale Gas Project

Sydney, NSW, Australia 16 June 2008

Wind Hydrogen Limited (WHN) is pleased to announce today that it has completed its operational, geological and technical due diligence in coordination with its joint venture partners, Gale Force Petroleum (TSX-V:GFP) (formerly Rolland Energy, Inc) and Derby Resources LLC, and is satisfied with its findings. Legal due diligence is proceeding and is expected to finish before the end of June, 2008. Wind Hydrogen’s equity investment in the Project is subject to shareholder approval which is expected on 24 June 2008.

WHN has a portfolio of energy projects in various stages of development located presently in the USA, United Kingdom, Latin America and Australia. WHN’s stated policy is to reduce project development risk by de-risking its projects and expanding into geographical regions and complementary energy sources where company value can be added quickly. WHN will continue to evaluate global investment opportunities in the energy sector corresponding to its stated objective to grow a valuable portfolio of energy assets.

Contact: Larry Podrasky Wind Hydrogen Limited 02 9024-7809 http://www.wind-hydrogen.com

Attached is an extract from a recent similar announcement by Gale Force Petroleum with reference to Discovered and Contingent Resources for the Project:

Suite 14, Level 12, 95 Pitt Street Sydney NSW Australia 2000 T: (61 2) 8249 8157 F: (61 2) 8249 8101 E: info@wind-hydrogen.com W: www.wind-hydrogen.com

GALE FORCE PETROLEUM RELEASES KENTUCKY SHALE GAS PROPERTY ACQUISITION TERMS AND DUE DILIGENGE UPDATE

Gale Force Petroleum Inc. has provided the terms by which it will acquire a 50-per-cent ownership in the Kentucky shale gas property, inclusive of 22,000 acres of oil and gas leases, nine gas wells and five miles gathering lines, including compressors, all located in eastern Kentucky, from NAFG LLC, a private U.S. company. The purchase price will be $2.5-million of which Gale Force Petroleum will pay $1.25-million. Gale Force Petroleum's two joint venture partners, Wind Hydrogen Ltd. and Derby Resources LLC will share the remaining 50-per-cent ownership.

The corporation has now completed its operational, geological and technical due diligence of the Kentucky shale gas property on behalf of the joint venture, and is satisfied with its findings. Legal due diligence on the Kentucky shale gas property is continuing, and is expected to culminate prior to closing the acquisition before the end of June, 2008.

Gale Force Petroleum will be the operator of the Kentucky shale gas property, and is assembling a team of industry experts in unconventional gas exploration and development, with specialized knowledge of Devonian shale gas recovery, as well as experience in eastern Kentucky. The operating team will be provided with performance incentives.

The Kentucky shale gas property is located in eastern Kentucky in the Appalachian basin, and there is analogous commercial production within a 20-mile radius of the property. The primary target of development is the Devonian shale gas; however, there is potential oil and gas production from other zones that are productive in the area, which will be evaluated during the phase 1 program. The Devonian shale gas formation is located at approximately 1,000 feet deep, and is consistently 250 feet in thickness across the property. Due to the shallow depth of the formation and low service costs in the area, a typical well drilled, stimulated and completed is approximately $150,000.

According to petroleum engineer David Kahn, PhD, PEng, who is working with the corporation, there is a discovered resource between 1.0 trillion cubic feet and 1.9 trillion cubic feet of original gas in place (GIP) in the Devonian shale gas formation, on the 22,000-acre property. Discovered resources are those quantities of oil and gas estimated on a given date to be remaining in, plus those quantities already produced from, known accumulations. Discovered resources are divided into economic and uneconomic categories, with the estimated future recoverable portion classified as reserves and contingent resources, respectively.

According to Mr. Kahn, based on the analysis of typical analogous wells and assuming 20-acre spacing, recovery rates may vary between 20 per cent and 33 per cent of GIP, yielding a contingent resource of 200 billion cubic feet and 380 billion cubic feet. Contingent resources are those quantities of oil and gas estimated on a given date to be potentially recoverable from known accumulations, but are not currently economic. This contingent resource estimate is contingent on gas prices remaining above $5 per thousand cubic feet and on the ability of the operator to effectively access and stimulate the formation, creating sufficient permeability to extract the resource from the unconventional shale formation. Horizontal drilling and newer stimulation techniques may be used by the corporation to achieve economic production, improve flow rates and accelerate recovery. The contingent resource estimate is also confirmed by data on average wells in eastern Kentucky, which, according to the Kentucky Geological Survey, average cumulative production of 0.3 billion cubic feet per well over 20 years on 22-acre spacing.

The phase 1 program for development of the Kentucky shale gas property is expected to require a capital investment of approximately $1.5-million, and will focus on two main objectives: commencing production from the nine wells in place, and drilling, coring and putting in production additional wells so as to obtain greater cash flows and improved geological knowledge of the property. The phase 1 program will commence immediately upon closing the acquisition of the property, and is scheduled to finish before the end of 2008.

2