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Novera Energy Ltd (NVE)

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Monday 18 July, 2005

Novera Energy Ltd

NVE receives JV distribution

Novera Energy Ltd
18 July 2005

               Novera Energy receives £1.2m/A$2.9m half year cash

                        distribution from Joint Venture

International renewable energy company, Novera Energy Limited (ASX/AIM: NVE) has
received a cash distribution of £1.2 million (AUD$ 2.9 million) from the Novera
Macquarie Renewable Energy (NMRE) joint venture for the six months to 30 June

Key points of the distribution include:

•         The total cash distribution declared from NMRE for the half-year is
£2.4 million (A$5.9 million);

•         Novera's 50% share of the proceeds is £1.2 million (A$2.9 million);

•         The half year distribution received from NMRE represents 2.2 pence
(5.3 cents) per Novera share;

•         NMRE remains on track to pay a full year distribution of £3.1 million
(A$7.6 million), representing an approximate 9.5% yield on asset cost over the
first full year of operations;

•         Cash flow to Novera is the basis of the Company's stated expectation
to pay its first distribution to shareholders in 2006. This guidance on
distribution is subject to the Directors being satisfied on appropriate
available distribution mechanisms.

Novera Energy Chief Executive, Shane Gannon, said NMRE's performance to date was
in line with the investment case identified at the creation of the joint venture
in December 2004. The distribution is generated from the original NMRE portfolio
of 128 MW. Additional acquisitions, such as the 9MW of German wind farms
acquired in May 2005, will continue to strengthen future cash yields generated
from the portfolio of assets.

Novera Energy Limited will announce its audited results for the half year during
August 2005.

For further information please contact:

United Kingdom
Ken Cronin / Janine Brewis, Gavin Anderson     +44 (0)20 7554 1400

David Reid, Westbrook Communications           +61 (0)2 9231 0922 / 0417 217 157
Brian Stewart, Novera Energy Limited           +61 (0)2 9240 2700 / 0403 465 433

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