Press Release

SYDNEY, July 10 AAP - Alternative stock market NSX Ltd has launched a $10.75 million takeover offer for The Waterexchange Ltd, Australia's largest independent water market operator. NSX and Waterexchange said today that their respective boards had recommended their shareholders accept the all-scrip offer of 25 million NSX shares at 43 cents each. The Waterexchange has grown into the largest marketplace in Australia for water, servicing more than forty water brokers and 20,000 clients along the eastern seaboard and in South Australia, NSX said today. Waterexchange chief executive Brian Peadon said the company had spoken to a number of companies about strategic relationships. "With NSX's reputation for market operation, settlement and administration and the The Waterexchange's strong position in water, the acquisition is a great blend of our respective skills and aspirations," Mr Peadon said. The acquisition will continue NSX's moves into assets other than securities markets, adding to the establishment of a market for taxi licences in 2006. NSX also announced this morning that former United States vice president Al Gore would be the opening speaker at the launch of a new market for sustainability and cleantech industry sectors. FEX Sustainability and Cleantech Investment Market (FEX-SIM) will open in Sydney on September 14, operating as a board, under NSX's market licence.