TER Tersus Regs

RNS Number:2755Z
Tersus Energy Plc
29 June 2007


TERSUS ENERGY PLC


For immediate release: Friday, 29 June 2007


                       Tersus Energy - update on HT Blade


Tersus Energy Plc ("Tersus") has been informed of a transaction related to its
investment in ZhongHong (Baoding) Huiteng WindPower Equipment Company Ltd ("HT
Blade").


Tersus, the renewable energy company traded on AIM, invested $2 million in
February 2006 in a Texan partnership called Tang Wind Energy LP ("TWELP").  This
investment acquired a 12.1 per cent. interest in TWELP through a convertible
loan note since converted. TWELP's only asset, other than cash, is a 100 per
cent. holding in TWELLC, a Cayman Islands corporation.  TWELLC's only asset is a
25 per cent. holding in HT Blade. Thus, Tersus indirectly acquired a 3.03 per
cent. interest in HT Blade's equity.  The implied value of HT Blade's equity at
the time of this transaction was, therefore, $66 million.


TWELP recently sold part of its interest in TWELLC.  The new investor introduced
$20 million, before expenses, and acquired an interest in TWELLC based on a
valuation of HT Blade equal to 8 times 2007 post tax profit or 10 times 2007
profit if the option referred to below is exercised. The investor also has an
option, until February 2008, to invest a further $20 million into TWELLC at a
valuation based on 10 times HT Blade's 2007 profit.  This option is exercisable
if certain IPO process related milestones are achieved. The percentage interest
in TWELLC to be allocated to the new investor will be determined in 2008 based
on HT Blade's audited 2007 accounts.


If HT Blade's profit were to be the same in 2007 as it was in 2006 then the HT
Blade values implied by the initial investment and the option would be $96m and
$120m respectively.


For further information please contact:

Tersus Energy plc
Steve Levine, Chief Executive Officer     Tel: +1 978 635 0997
David Wilson, Finance Director            Tel: +44 (0)20 7408 5416/
                                               +44 (0)7831 818121

KBC Peel Hunt Ltd                         Tel: +44 (0)20 7418 8900
David Anderson

M:Communications                          Tel: +44 (0)20 7153 1547
Partick d'Ancona




                      This information is provided by RNS
            The company news service from the London Stock Exchange

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