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Omn - Omnia - Omnia Gains Approval For Clean Development Mechanism Project

Release Date: 10/05/2007 11:45:01      Code(s): OMN
OMN - Omnia - Omnia gains approval for Clean Development Mechanism Project      
OMNIA HOLDINGS LIMITED                                                          
(Incorporated in the Republic of South Africa)                                  
(Registration number 1967/003680/06)                                            
Share Code: OMN                                                                 
ISIN: ZAE000005153                                                              
("Omnia" or the "Group")                                                        
OMNIA GAINS APPROVAL FOR CLEAN DEVELOPMENT MECHANISM PROJECT                    
Omnia, the diversified, specialist chemical services provider with business     
interests balanced across chemical, mining and agricultural markets today       
announced the approval of its Clean Development Mechanism (CDM) project created 
by the Kyoto Accord, to reduce greenhouse gas emissions.                        
On 16 August 2005 Omnia announced its endorsement of the Kyoto Protocol, and    
intention to apply to become eligible for emission reduction projects under such
Protocol which came into effect on 16 February 2005. This is in line with the   
Group`s commitment to sustainable development and its continual improvement in  
environmental matters.                                                          
Following technical scrutiny and validation by a number of South African and    
international authorities, Omnia`s CDM project has been validated and certified 
by the Executive Board of the Protocol. This places Omnia`s project as the      
second largest to be registered in South Africa and the second largest of its   
kind in Africa. Commissioning of the project will therefore commence in the     
first half of the 2008 financial year and will allow Omnia Fertilizer, through  
its Sasolburg plant, to generate approximately 500,000 Certified Emission       
Reductions (CER) per annum.                                                     
CER`s are currently priced at approximately Euro14 per ton. Based on these price
levels Omnia could potentially earn approximately R60 million in revenue, per   
annum from 2008 over the five year period of the accord. These units are traded 
as commodities and price movements going forward are likely to depend on supply 
and demand factors.                                                             
Most industrialised countries have committed to reductions in their collective  
greenhouse gas emissions by 2008 to 2012 through joining the Kyoto Protocol. The
penalty to these countries for not complying and reducing gas emissions by 5%   
from 1990 base levels is Euro40 a ton of carbon dioxide emitted in 2008. This   
rises to Euro100 per ton thereafter.                                            
Johannesburg                                                                    
10 May 2007                                                                     
Sponsor:                                                                        
Barnard Jacobs Mellet Corporate Finance (Pty) Limited                           
Date: 10/05/2007 11:45:01 Supplied by www.sharenet.co.za                     
Produced by the JSE SENS Department                             .                  



                                        
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