2006 Media Releases

Deutsche Bank has initiated coverage of Energy Developments Ltd (ENE), an international renewable energy provider with operations in Australia, the USA, Europe and Asia.

Neil Watson from Deutsche Bank’s Emerging Companies research team has initiated coverage with a Buy rating.

In his report dated 31 March Watson says “ENE offers strong production/earnings growth, stable margins, exposure to legislated greenhouse gas incentives ('green credits') plus upside optionality not captured in base forecasts. Delivery of the first growth project, German Creek, during H1/07 should represent a re-rating catalyst.”

For further information please contact:

Jill Valentine 612 8258 2792