Update re: HT Blade

RNS Number:3073T
Tersus Energy Plc
29 April 2008


                               Tersus Energy plc

                       ("Tersus Energy" or the "Company")


                         Update on HT Blade Investment


Tersus Energy, the AIM traded clean energy company, today announces an update
regarding its investment in ZhongHong (Boading) Huiteng Wind Power Equipment
Company Ltd ("HT Blade").


In January 2006 Tersus invested $2 million in TWELP (a Texan LP) as a
convertible secured loan subsequently converted into a 12.1 per cent.
partnership interest.


TWELP owned 100 per cent. of Tang Wind Energy LLC ("TWELLC," a Cayman company)
which in turned owned 25 per cent. of HT Blade. The remaining 75 per cent. of HT
Blade was owned and continues to be owned by Chinese State Owned Enterprises.


Last year, an international private equity firm with offices in Shanghai
acquired an interest in TWELLC from TWELP in return for $20 million. This money
was used by TWELP for transaction expenses, TWELP costs and a loan to HT Blade.
The balance was retained by TWELP in reserve.


In February 2008, the same private equity investor exercised an option which it
was given as part of the 2007 transaction and bought a further stake in TWELLC
paying a further $20 million to TWELP. That investor now has a shareholding in
TWELLC of approximately 42 per cent., with TWELP owning the remaining
approximately 58 per cent. Therefore, at that date, TWELLC and the private
equity investor owned (indirectly) approximately 14.5 per cent. and
approximately 10.5 per cent. respectively of HT Blade, with Tersus owning
(indirectly) an approximately 1.75 per cent. stake in HT Blade.


In April 2008, TWELP transferred some $32 million of cash and receivables into a
new partnership TWELP 2. This amount represented the $40 million received from
the private equity investor, less transaction costs and TWELP running costs.


In April 2008, TWELP 2 made a distribution to its partners as a result of which
Tersus has received approximately $1.45 million in cash. The amount remaining in
TWELP 2 is being retained to meet future HT Blade capital calls and thus to
avoid TWELP dilution.


Also in April 2008, TWELP's limited partners sold a 9 per cent. interest in
TWELP to an international venture capital firm. Included in this 9 per cent.
stake was a disposal by Tersus of 25 per cent. of its 12.1 per cent. interest in
TWELP. Tersus has received approximately $2.19 million in cash in relation to
this disposal.


As a result of this disposal Tersus now owns approximately 9 per cent. of TWELP
resulting in Tersus owning (indirectly) approximately 1.3 per cent. of HT Blade.


The Board believes that the value of its indirect holding in HT Blade will be a
function of TWELP's ability to create further exit opportunities, the business
performance of HT Blade and the willingness of the Chinese State Owned
Enterprises to proceed to an IPO. The Board also believes that the value of this
stake may be affected by the possible dilution caused by the creation of a
management incentive pool and the manner in which the cost of such incentive
pool may be borne by shareholders in HT Blade.


Following receipt of the funds from TWELP and TWELP 2, it is the Board's
intention to repay the #500,000 loan which it received in December 2007 from a
major shareholder and to pay certain deferred liabilities, including Directors'
salaries (most Directors not having been paid since December 2006), leaving
approximately #700,000 to continue developing the business.


Further enquiries:

Tersus Energy plc                                            Tel: [phone]
Steve Levine, Chief Executive Officer
David Wilson, Chief Operating Officer and Finance Director

KBC Peel Hunt Ltd (Nominated Adviser and Broker)             Tel: [phone]
David Anderson
Deon Veldtman



Details of the Company can be found on its website at: www.tersusenergy .com




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

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