EURO Frk Eur Igc Etf

RNS Number:9951D
EuroTrust A/S
18 September 2007


Press release
For immediate release
18 September 2007


                                 EuroTrust A/S

                  Joint venture in Italian wind farm projects


EuroTrust A/S ("EuroTrust" or "the Company") (AIM:EURO), the wind energy and
property development company, today announces that its 50.25% subsidiary,
European Wind Farms A/S ("EWF"), has entered into an agreement with R.E. Wind
Srl, an Italian wind farm developer, to jointly develop a portfolio of nine
Italian wind farm projects ("the R.E. Wind portfolio") in the regions of
Tuscany, Calabria, Puglia and Sicily totalling 683 MW. EuroTrust will own an
economic interest of 171 MW of this total.

The transaction is attractively structured from EuroTrust's perspective in that
the agreement involves only a de minimis up-front payment by EWF for its
interest in the R.E. Wind portfolio. Instead, EWF will cover the budgeted costs
of development of the projects and will finance the wind turbine construction
and installation, in return for receiving 50% of the project rights on the R.E.
Wind portfolio and being repaid R.E. Wind's 50% share of the project financing
from the income of the R.E. Wind portfolio when operational.

The projects are in advanced stages of the permitting process with the first
projects currently expected to commence construction during the next fiscal year
2008/9. With this agreement, EuroTrust has increased its project pipeline in
Italy to 392 MW.

EuroTrust also announces that it has terminated development activities on a
Bulgarian wind farm project due to unsatisfactory project economics.
Construction of the wind farm project was originally planned to commence in this
fiscal year 2007/8 with EuroTrust owning 25 MW.

As a result of these developments, EuroTrust now has increased the amount of
secured project rights by 146 MW to a total capacity of 512 MW. Further to this
EuroTrust currently has 79 MW in operation in Germany and Italy and 92 MW under
construction in Spain and Poland. EuroTrust has set a target of having 1000 MW
of capacity in operation within the next three to five years.

Bo Kristensen, Chief Executive Officer, commented: "The agreement with R.E. Wind
Srl. is another major step for our expansion in the very attractive Italian
market which now contains two-thirds of our project pipeline.

"Prospects in the Bulgarian market remain good though we expect some changes to
the exact make-up of the pipeline as due diligence work is rigorously pursued."


                                    --ENDS--



For further information please contact:

EuroTrust                              00 45 7696 6000
Bo Kristensen, CEO

Cenkos Securities                     00 44 (0)20 7397 8926
Stephen Keys

West Hill Corporate Finance           00 44 (0)20 7464 8822
Alan Richards

Haggie Financial                      00 44 (0)20 7417 8989
Peter Rigby/Alexandra Parry


Notes to Editors:

EuroTrust


EuroTrust A/S is a leading Danish property developer and renewable power
producer listed on the AIM market of London Stock Exchange. EuroTrust A/S has
171 MW of wind power generation in operation or under construction in Germany,
Italy, Spain and Poland, and 50 commercial and residential property development
projects in Denmark and Norway.







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

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