EnviroMission Limited

Recent Media Releases

19 November 2002

MEDIA RELEASE

Tuesday 19 November 2002
For Immediate Release

Bank of New York to Sponsor EnviroMission’s US Launch, Level 1 ADR Program Underway

Increased levels of interest, trading activity and media coverage of EnviroMission has preceded growing levels of investor enquiries from international markets, particularly the United States. In response to this demand, EnviroMission’s Directors have passed a resolution to list EnviroMission stock in the US via a Level 1 American Depositary Receipt (ADR) program.

As the United States Securities market represents the most liquid capital market in the world, the ADR program will provide EnviroMission with greater investment exposure, enhanced project visibility and an increased potential for raising project capital.

The ADR program will be fully sponsored by the Bank of New York - the leading depositary bank worldwide.

Mr Barry Driscoll, Head of Issuer Services with the Bank of New York in Australia said "Formation of a Level 1 ADR program to be sponsored by the Bank of New York is a strategic response to strong interest from the United States and realisation that the ADR will offer EnviroMission access to an important investment arena.

"Participation in the ADR program will allow EnviroMission to trade stock in the US through the Bank of New York in the over the counter market (OTC)" said Mr. Driscoll.

"The ADR support being offered by the Bank of New York will give EnviroMission an experienced introduction into the US and will offer benefit to the development of the technology by enhancing the investment opportunities to Solar Tower power stations throughout US and other countries covered by the licence agreement held by EnviroMission major shareholder, Energen Global Inc.

"Investors are certainly looking for opportunities that offer potential and the development of Solar Tower technology is strengthened in light of the recent landmark agreement between EnviroMission Limited and construction giant Leighton Contractors Pty Ltd to progress the development of the technology in Australian and international markets, specifically the US market" said EnviroMission Chief Executive Officer, Mr Roger Davey.

Ends

Media Enquiries:
Ms. Kim Forte
Communications Manager
EnviroMission Limited

Mr. Barry Driscoll
Head of Issuer Services
The Bank of New York

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