Amsterdam, the Netherlands, 17 July 2007 – Bateman Litwin N.V. (“Bateman Litwin” or “the Group”) is pleased to announce that it has signed an agreement to acquire Delta-T Corporation (“Delta-T”), a leading US-based bioethanol technology provider, with a fast growing engineering, procurement and construction (“EPC”) division for a total consideration of US$45 million in cash and 11.8 million new ordinary shares in Bateman Litwin, subject to adjustment (the “Acquisition”).  Completion of the Acquisition is subject to approval by Bateman Litwin shareholders at an Extraordinary General Meeting to be held on 21 August 2007.

Acquisition highlights:

 The Acquisition accelerates several key areas of
   Bateman Litwin’s strategy: 

       combines the Group’s EPC and process engineering skills with one
         of the leading proprietary technologies in bioethanol production

      enhances Bateman Litwin’s growing presence in environmental
        related technology and renewable energy markets 

     typical contract size of US$120-250 million plays to
       Bateman Litwin’s strengths

 Delta-T’s backlog, as of 30 June 2007, amounted to ca. US$500 million
  adding substantially to Bateman Litwin’s existing backlog of 
  ca. US$1 billion

 Provides immediate, sizeable entry into the US ethanol construction
   market with forecast industry spend on new plants calculated to be
   worth more than US$10 billion by 2013
 
 Creates a material platform for bioethanol market expansion into
   Europe, the Far East, CIS, and Australia

 Expected to enhance earnings per share from the first full financial
   year of ownership

Information on Delta-T Corporation

Delta-T is a technology provider and constructor of biofuel processing plants.  Delta-T was founded in 1984 by Mr. Bibb Swain, the current CEO.  It is headquartered in Williamsburg, Virginia, USA and employs over 200 staff.  Delta-T has pioneered ethanol development from an original focus on fuel ethanol to biofuels, refined alcohols and biorefinery advancements.  With technology as its core competency, Delta-T’s business model has been extended to deliver technology products through EPC ‘design and build’ partnerships.

Delta-T has established a well-defined business model and has a major presence in the rapidly growing US and Canadian ethanol markets where it holds an estimated 25 per cent market share.  Delta-T’s international focus is primarily on emerging fuel ethanol markets in China, India and Australia, and via Delta-T Europe, in Europe and the CIS.

Delta-T is one of the world’s leading designers of high-tech alcohol plants and refining systems that focus on low cost production and minimal environmental footprint.  Its grain to ethanol plants produce no process waste water, and the water consumption is a world-leading 2.8 gallons per gallon of undenatured ethanol (vs. an industry average of 4.5 – 10 gallons).  Delta-T’s newest Dried Distillers Grains with Solubles (“DDGS”) drying technology allows additional recycling of water for a further reduction of 50 per cent to only 1.5 gallons of water per gallon of undenatured ethanol produced.  Delta-T has an exciting pipeline of new technologies near commercialization that should help to position its plants for the coming years as leaders in energy efficiency and low environmental emissions.

Financial Information and Terms of the Acquisition

In the financial year ended 31 December 2006, Delta-T reported revenues of US$213 million, EBITDA of US$6.1 million and profit before taxation of US$6.4 million under US GAAP. Delta-T has grown significantly with revenues in 2004 of US$8 million and in 2005 of US$25 million.  At the end of 2006, Delta-T’s backlog of revenue still to be recognized for contracts in progress was US$454 million and had reached ca.US$500 million by the end of June 2007.

Bateman Litwin has agreed to acquire the entire issued share capital of Delta-T for a total consideration of US$45 million in cash and 11,800,000 new ordinary shares to be issued to the sellers. The shares will be locked-up for 12 months from closing.   

Of the above shares, 3,933,334 shares will be issued on completion of the Acquisition.  The remaining 7,866,666 shares will be placed in escrow with release dependent on financial performance milestones, indemnification obligations of the sellers and continued employment of the sellers for an additional three years from completion.

As a result of the Acquisition, Bateman Litwin will also acquire majority stakes in a number of related businesses.

The Board expects the transaction to enhance earnings per share from the first full financial year of ownership.

The acquisition is conditional upon approval by Bateman Litwin shareholders at an Extraordinary General Meeting to be held on 21 August 2007 with closing expected shortly thereafter.  Subject to this approval, Delta-T’s financial reports will be consolidated to the Group effective 1 April 2007.

Financing the Acquisition

Bateman Litwin intends to fund the Acquisition using existing cash resources including a portion of the cash earmarked for acquisitions at the time of its IPO in May 2006.  Bateman Litwin may also look to place not more than 5 per cent of its issued share capital with institutional investors in the near term to part fund the transaction.