IMH imt holdings limited

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    ASX Announcements
    Date:
    7 July, 2004
    Re:
    Business Update
    IMT is now producing Phoslock in commercial quantities at its factory at Kunming,
    China.
    The first order for Australia has been received and will be filled as soon as the quality
    assurance procedures have been completed.
    Small shipments of Phoslock are being sent to the UK, NZ, Germany and the US.
    Significant orders from these countries are expected in the short term once the
    licencees and distributors have had the opportunity to examine the granules and their
    physical and performance characteristics.
    The granules will allow the simple and low cost delivery of Phoslock into water bodies
    ranging from domestic aquaria to major lakes and dams.
    Marketing of Phoslock is proceeding as follows:
    Australia
    IMT’s Australian licencee, ECOWISE Environmental Pty Limited, has generated
    considerable demand and interest within the water industry. The first order is to be used
    in the treatment of a NSW sewage treatment plant badly affected by the presence of
    algae.
    Further shipments of Phoslock will be made to Perth and Sydney for use in dams,
    sewage treatment plants, golf courses and in wastewater treatment. Initially, applications
    of around 10-20 tonnes will take place to enable users to observe the physical
    characteristics of Phoslock, determine the appropriate application technique, fine tune
    OH&S requirements and finalise logistics for larger scale applications.

    China
    See details in previous ASX announcement on 6 July, 2004.
    New Zealand
    IMT’s distributor (Primaxa) has made considerable progress in both obtaining regulatory
    approval and marketing Phoslock. As previously advised by IMT, the NZ Ministry for the
    Environment has announced its recommendation to use Phoslock in remedying
    phosphorus related problems in Lake Rotorua and Rotoiti. Substantial funding by the
    Government for treatment of the Lake Rotoiti problem has been recently announced.
    Primaxa is arranging the logistics for Phoslock to be applied to the large lakes by aerial
    means. This will be cost effective and practical in the large quantities required in New
    Zealand.
    UK
    IMT has met with the UK Environment Agency (“EA”) and agreed the process to
    introduce Phoslock within their jurisdiction. Regulatory approval is currently being sought
    for the use of Phoslock.
    Initially, a “site permit” will be obtained to apply Phoslock to an “uncontrolled” water body
    ie a pond or lake that is not connected to another water body. Our proposed UK
    distributor has identified a number of sites. Once these sites are treated and the EA
    confirms the results, a policy document will be issued allowing use broadly within the
    UK.
    The EA has nominated a number of significant and sensitive sites that they believe
    Phoslock will provide a solution to their eutrophication problems. This is in addition to
    the many other dams, ponds, streams and other catchments giving rise to eutrophication
    problems.
    USA
    A significant order is expected shortly from our US licencee.
    The environmental damage caused by phosphorus discharge is developing as a major
    issue throughout the country. States such as Virginia and Vermont have recently
    introduced legislation specifically limiting phosphorus discharge. Other states are
    following. The Everglades in Florida have serious eutrophication problems for which
    very significant funding has been allocated.
    Two initiatives to broaden the exposure and penetration of Phoslock are in progress:

    A large waste water treatment company is redesigning a number of its products
    to include Phoslock. The products include pool liners and processes for removing
    chemicals from waste streams.
    A marketing company operating throughout the US in the water industry is
    negotiating for the distribution rights for Phoslock for the municipal water market.
    Industries such as sugar, abattoirs, chicken, citrus and tobacco are being forced by
    litigation and legislation to implement measures to reduce phosphorus discharge. Our
    US licencee has identified 20 such industries that will make up the focus of their
    marketing.
    Netherlands
    A distributor has been appointed to commence marketing in the Netherlands, see ASX
    announcement on 1 July, 2004.
    Japan
    IMT is in discussions with a large Japanese corporation for the rights to sell Phoslock to
    the golf course market. The corporation currently supplies products to 1,700 courses in
    Japan and believes there is significant market to reduce the incidence of algae in golf
    course ponds throughout the country.
    IMT continues to work with a Japanese wastewater treatment company on the
    development of a Phoslock “pellet”. This differs from a granule in that the pellet will
    remain in tact within a water system. Once the pellet has reached its phosphorus
    saturation point, new pellets can replace them. The pellets will have major application in
    industrial, waste water systems, domestic ponds and aquaria.
    Considerable progress has been made and IMT believes that a commercial pellet will be
    available shortly.
    Domestic Ponds, Ornamental Ponds and Aquaria
    The supply of products to the domestic and ornamental ponds and aquaria industries is
    a massive industry worldwide. A significant portion of that market is remedying “green
    water”, caused by algae that are in turn caused by excessive levels of phosphorus. The
    source of the phosphorus is fish food and decaying plants and other matter in the water.
    The solutions offered by suppliers are mainly limited to UV light filters and copper based
    products added to the water. Both of these solutions are only temporary measures since
    they only are effective once algae is present and although the algae is killed,
    phosphorus from the dead algae is released back into the water which then causes
    more algae to grow. Phoslock on the other hand is a permanent solution that prevents
    algae growing by removing the phosphorus from the water.

    IMT is in discussions with one of the largest suppliers of products to the pond and
    aquaria industries. A 30,000-litre pond has been set aside at the supplier’s R&D facility
    in Europe where the pellets are to be tested. Upon successful completion of the tests,
    IMT expects to supply the pellets to the worldwide market.
    For further details, please contact Brett Crowley, CEO, on 02 96980622.

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