SOURCE: EnviroMission Limited

July 11, 2006 10:04 ET

EnviroMission LTD Commences Trading on American Exchange

NEW YORK, NY -- (MARKET WIRE) -- July 11, 2006 -- Australian-based EnviroMission Limited (PINKSHEETS: EVOMY) is pleased to announce that it will be activating its US listing where it will trade on the over the counter markets via an ADR program sponsored by the Bank of New York.

The company, which has been listed on the Australian Exchange (ASX: EVM) since 2001, is excited about the prospects and opportunities presented by being involved in the American markets. EnviroMission was originally listed on the Australian Stock Exchange as a vehicle to enlist investment support to develop the Solar Tower originally proposed by Stuttgart-based civil engineers, Schlaich Bergermann and Partner.

The concept uses solar radiation to heat air beneath a large translucent collector to create a constant flow of heated air to drive electricity-generating turbines. The turbines are located at the base of a very tall tower in the center of the collector, and the movement of the heated air through these turbines is caused by the updraft effect created by the tower. In essence, the Solar Tower creates its own wind that it channels through a series of turbines.

Australia was strategically chosen for development of the first large-scale Solar Tower with full knowledge of the highly regulated labor market and the lowest energy prices in the West -- the attitude being if it can be developed in Australia, it can be developed anywhere. The climate is such in Australia that any green alternative must be able to compete with coal or gas fired generation -- commerciality with coal and gas is the litmus test. The Solar Tower is now in a position to meet this test.

EnviroMission progressed through to project feasibility based on a successful pre-feasibility study -- the study supported the case for commercial development, and EnviroMission continues a development schedule accordingly.

A priority was always focused on increasing the performance and reducing the capital cost of development. In making this a focus, two technologies were identified with strong benefit to the efficiency of the operation of a Solar Tower.

The application of the enhancing technologies has formed new Intellectual Property that is 100% owned by EnviroMission for the benefit of shareholder wherever Solar Towers are developed using the enhancements.

An application was filed 31 March, 2006 with the Federal Government of Australia for funding from the Low Emission Technology Development Fund (LETDF) that if successful will contribute one dollar for every two dollars expended up to the projected capital cost provided within the submission.

Macquarie Bank ( has provided a commitment to facilitate the balance of the private sector capital cost subject to the project's projected capital cost being that submitted in the grant application or being accepted by Macquarie Bank.

About EnviroMission LTD

EnviroMission aims to be one of Australia's leading producers of clean, green renewable energy committed to establishing profitable, large-scale renewable energy generation power stations for the Australian electricity market. The company aims is to lead the renewable energy market with new energy technologies that do not consume fuel resources or produce greenhouse gas emissions.

More information about EnviroMission LTD can be found at:

Notes about forward-looking statements

Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties.

Certain Statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as "estimates," "anticipates," "projects," "plans," "expects," "intends," "believes," "may," "should" and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date when they are made.

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