ZIMI LIMITED — Capital/Financing Update 2008

May 15, 2008

ACN 113 326 524

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

16 May 2008

Wind Hydrogen signs MOU to Farm- in to Kentucky Shale Gas Project

Wind Hydrogen Limited (‘WHL’) and Derby Resources LLC (‘Derby’), a private USA oil & gas company, have signed a farm-in memorandum of understanding (‘MOU’) which provides for WHL to farm-in to Derby’s 50/50 joint venture with Rolland Energy Inc. (TSX-V:ROE, ‘Rolland’), a publicly-listed oil & gas company on the TSX Venture Exchange.

The joint venture proposes to acquire 100% ownership of the Kentucky shale gas assets (the ‘Project’) consisting of:

• a) 22,000 acres of oil and gas leases,

• b) Nine (9) gas wells, and

• c) Six (6) miles of gathering lines including compressors.

WHL will receive a two-thirds working interest (66.67%) in Derby’s 50% share of the Project in return for funding Derby’s commitments giving WHL a net Project interest of 33.33%.

The foregoing acquisition is subject to the respective Parties’ satisfactory due diligence, signing of definitive agreements and shareholder approval. WHL will soon be disseminating a notice to its shareholders convening a general meeting to approve the diversification of the Company’s operations.

Immediately after closing of the Project acquisition, WHL, Derby and Rolland intend to commence production from the existing 9 wells and begin drilling a multi-well program to fully exploit the properties. The principal exploration and development target is the Devonian shale gas formation which has been the object of substantial exploration and development throughout the Appalachian basin in recent years.

"This is a unique opportunity for WHL to jointly develop, with experienced partners, the Devonian shale gas formation in Kentucky”, said WHL’s Executive Chairman and CEO, Larry Podrasky. “The Project means that WHL can expand into gas markets in the USA near a major regional pipeline, which is close to end-markets where spot gas prices are currently over US$11.00 per mmbtu. The Project is expected to begin generating cash flow in the near term, and potentially provide WHL with large net gas flow-rates at currently high prices. At the same time, the company continues to successfully develop its valuable global wind-power portfolio.”

For further details contact: Larry Podrasky: 02-8249-8157.

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