EURO Frk Eur Igc Etf

RNS Number:9547L
EuroTrust A/S
17 January 2008





        EuroTrust Wind Energy Portfolio Developments and Trading Update



January 17, 2008



EuroTrust A/S (the "Company"), a leading European renewable power producer and
real estate developer, today announces an update on the development of its
portfolio of wind energy assets and on the Company's trading performance for the
six months ended 31 December 2007.


Despite seasonally low wind levels in October and December 2007, the Company's
wind energy portfolio performed satisfactorily with a number of exciting
developments in the pipeline, including the Cortijo de Guerra I wind park which
is close to commencement of operations. In relation to the Company's real estate
division, management continues to work hard towards the divestment of shares in
its real estate operations along with the disposal of its individual projects at
Skagen and the Romo Golf & Wellness resort, as announced on 5 October 2007.
Sales of property units have been much weaker than expected during the first
half of the financial year, due principally to difficult market conditions.
However, actions have been taken to redress these difficulties ahead of the key
spring sales period and management remains optimistic of meeting its targets. As
a result, the Company believes it will meet its expectations for the group, as a
whole, for the full financial year.


Wind energy


The Company continues to be encouraged by the progress of its wind energy
portfolio. With the commissioning of the Cortijo de Guerra I wind park, close to
Jerez, Spain, the Company will increase its installed operating capacity by
approximately 50% to 124 MW. It has an additional 62 MW under construction and a
further 319 MW in its development pipeline.


The Company's objective remains to become a leading wind energy operator and
developer in Europe with 1,000 MW of installed capacity within the next three to
five years. This objective is being developed against a strict investment
performance target, requiring that project wind farm portfolios should yield, on
average, 15% per year of the invested equity after amortization and interest on
debt financing.


Spain

The Company is pleased to announce the recent completion of the construction and
grid connection of its 40.8 MW, 14 turbine wind park, Cortijo de Guerra I.
Commercial operation is expected to commence during February 2008 once all
necessary grid tests have been completed.


Poland

On-going developments at the Polish 51 MW Karcino wind farm project have been
encouraging and discussions are progressing well. The first five wind turbines,
representing 15 MW of capacity, are now expected to be delivered during the
summer of 2008, with the remaining 12 turbines, representing a further 36 MW,
expected to be delivered during 2009.


Germany

The Company recently completed two projects in Wittstock Papenbuch and in
Ottenhausen, Germany with a total capacity of 4.5 MW. It has also started
construction of five further projects, in Brandenburg and Thuringen, with a
total capacity of 11 MW. These are expected to be completed by June 2008.


Italy

The Company has decided to terminate development activities in relation to two
projects located in Sicily, Italy (originally announced in December 2006) which
comprised a potential total of 124 MW of capacity. The Board does not believe
that the projects would meet its strict technical and mechanical performance
criteria. The Company has made no capital expenditure in relation to these
projects and therefore will not suffer any material loss as a result.


However, the Company continues to see significant opportunities in the Italian
market and still has significant operations in Italy comprising 240 MW of
capacity in the development pipeline and 2.5 MW of currently operational
capacity.



Property


As previously announced, the Company aims to have completed the divestment of
shares in its real estate operations by the end of the current financial year
and management remain focused on the timely completion of this programme as well
as on the disposal of its individual projects at Skagen and the Romo Golf &
Wellness resort which are progressing.


Market conditions have been difficult during the first half of the current
financial year and the Company has seen much weaker than anticipated sales of
property units. However, the slowdown in sales is being addressed by the
implementation of additional initiatives ahead of the key spring sales period
and management are confident that sales should improve during the second half of
the financial year.


Robert Skjodt, Chief Executive Officer, commented: "The commissioning of the
Cortijo de Guerra I wind farm is an important development for the Company's wind
energy portfolio and its timely completion means that we will benefit from
premium tariff pricing for the next five years. The project increases our
installed capacity by 41 MW to 124 MW and has established and developed some
important working relationships at commercial and governmental levels in Spain."


"Our decision not to go ahead with the two projects in Sicily reflects our
commitment to investing only in projects where all our investment and technical
performance criteria can be met. Italy remains an important market for us."


"We remain confident in achieving our goal of acquiring or developing 1,000 MW
of installed capacity within the next three to five years and believe that there
are many more opportunities for the Company in the European market."


The Company expects to announce its interim results for the six months ended 31
December 2007 in early March 2008.


ENDS





For further information, please contact:


EuroTrust A/S
Tel: +45 7696 6090


Robert Skjodt
Chief Executive Officer

Kaupthing Singer & Friedlander Capital Markets Limited
Tel: +44 (0)20 3205 5000


Andrew Dawber
Jos Trusted



Cubitt Consulting
Tel: +44 (0)20 7367 5100


Simon Brocklebank-Fowler
Michael Henman
Allison Reid





Notes to editors


EuroTrust A/S


EuroTrust is a leading Danish renewable power producer and a real estate
developer listed on the AIM market of London Stock Exchange. EuroTrust has 186
MW of wind power generation in operation or under construction in Germany,
Italy, Spain and Poland, and 44 commercial and residential property development
projects in Denmark and Norway.


EuroTrust is capitalised at approximately Euro280m (�210m).


www.eurotrust.dk
















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

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