The new shares are expected to commence trading as of Tuesday 8 March 2005 and will be equal in all respects to existing shares. The placement was recorded after market close on Monday 28 February and followed the announcement of EDL’s $12.1 million record interim net profit, 17% higher than the same time last year.

The proceeds from the share placement will go towards funding EDL’s ongoing and future projects, including 22MW of landfill projects committed to in Europe and the USA to be operational by the end of the year. EDL also announced progress towards the financial closure of the West Kimberley Power Project and movement towards formal commitment on the 32MW German Creek coal mine methane project.

EDL will also be inviting all shareholders to participate in a new issue under their share purchase plan, the details and terms of which will be released shortly.