Re Joint Venture

Camco International Ltd
18 December 2007


Camco International Limited
18 December 2007


Climate Leaders Joint Venture update



Camco International ('The Camco Group' or 'Camco'), a pioneering business in the
sustainable energy and low carbon markets, provides an update on the previously
announced Climate Leaders' Joint Venture ('CLJV'), a planned asset investment
vehicle to finance projects that reduce greenhouse gas emissions and generate
emissions credits.


On 13 July 2007 Camco announced that it had entered into a letter of intent with
Tudor Investment Corporation ('Tudor') and Gaian Capital ('Gaian') to launch the
CLJV. Camco, Gaian and Tudor have worked together for 6 months to develop the
entity and have reviewed several alternate commercial structures and revenue
models in detail. Camco, Gaian and Tudor have agreed to let the letter of intent
expire and release each other from their mutual obligations.


Camco and Gaian have determined that they, in conjunction with the CLJV
management team, will seek to establish a fund with new investors. This could be
a larger investment fund than originally envisaged due to the recent and
significant increase in investor interest in financial solutions to climate
change.


Over the past 6 months, Camco and the CLJV management team have:


• Engaged a core management team of leading carbon finance, project development
  and investment professionals
• Secured the seed asset for the first investment fund vehicle (the previously
  announced McCommas Bluff landfill in Dallas, Texas)
• Commenced active negotiation on several additional investment opportunities
• Identified outstanding candidates for the CLJV Investment Committee and
  Advisory Board
• Largely completed the structuring and documentation of an investment fund
  vehicle and management structure


The Camco Board of Directors is pleased to confirm that Sir Crispin Tickell has
agreed to join the CLJV Advisory Board as Chairman. Sir Crispin has been a
prominent and distinguished advocate of action to respond to the threats of
climate change for over 30 years. He was the United Kingdom's Permanent
Representative to the United Nations from 1987 to 1990 and has chaired many
national and international committees on sustainable development and climate
change including the Climate Institute, Gaia Society, International Institute
for Environment and Development and the UK Government Panel on Sustainable
Development.


David Potter, Chairman of Camco, said; 'We are delighted that Sir Crispin has
accepted this appointment given his global leadership and stature in raising
awareness of climate change and sustainability.'


Jeff Kenna, CEO of Camco, said; 'We would like to thank Tudor for their support,
effort and expertise in helping Camco develop the Climate Leaders' initiative.
We are pleased with the progress made and look forward to closing the fund.'


Tudor said; 'As a committed Camco shareholder we remain strong believers in the
carbon sector.'


This release is not intended to solicit investors for investment in CLJV.



Bali update


Camco is pleased with the positive outcome from Bali. The COP decided to launch
a comprehensive process towards reaching an agreement on the provision of
financial resources and investment to support enhanced action, including
facilitation of carbon-friendly investment choices. This provides strong
validation of our strategic positioning of the Camco Group and the Climate
Leaders initiative.



Enquiries:

The Camco Group                                             [phone]
Jeff Kenna, Chief Executive Officer
Scott McGregor, Chief Financial Officer

KBC Peel Hunt Ltd (Nominated Adviser)                       [phone]
Jonathan Marren
David Anderson

Gavin Anderson                                              [phone]
Ken Cronin
Kate Hill
Daniela Stawinoga



Notes to editors:


Camco


The Camco Group is a pioneering business with an outstanding track record in the
sustainable energy and low carbon markets. The Group consists of three business
segments:


The Camco carbon assets business is a leading project developer with one of the
world's largest carbon credit portfolios. We partner with companies to identify,
develop and manage projects that reduce greenhouse gas emissions, and then
arrange the sale and delivery of carbon credits to international compliance
buyers and into the voluntary market.


The consultancy practice includes ESD, The Edinburgh Centre for Carbon
Management (ECCM), Bradshaw Consulting and ESD Sinosphere. The businesses
combine specialist technical, strategic and financial expertise and experience
accrued over two decades.


Camco Ventures works with project and technology developers, early stage
businesses and investor groups to commercialise climate change mitigation
technologies, projects and services Part of this business is the recently
announced Climate Leaders' Joint Venture.






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