TZL Tz Limited

Dutton Associates updates its coverage of TZ Ltd. (ASX: TZL) maintaining a Strong Speculative Buy rating and a $9.20 target price. The 12-page report by Dutton senior analyst Paul J. Resnik, CFA is available at www.duttonassociates.com as well as from First Call, Bloomberg, Capital IQ, FactSet, Zacks, Reuters, Knobias, and other leading financial portals. TZ is the market leader in intelligent fastening and smart materials actuation control: the integration of intelligence and software control into everyday objects to enable new levels of functionality. The Company has created this novel market by adding intelligence, networking, programmability, and electronic security functions to fasteners in ways not previously considered. While significant time is required to engineer TZ�s products into the products of potential customers and then test the products and coordinate manufacturing, TZ has begun to receive initial purchase orders for its products and we anticipate a continuing stream of announcements of contracts signed and markets entered. Moreover, TZ has indicated that going forward it will be increasingly focused on securing shorter-cycle opportunities for Intevia. Since TZ has introduced a unique and potentially disruptive solution, it has virtually no direct competition in intelligent fasteners. The Company maintains that its patents and trade secrets provide a three to four year lead over any competitor just starting to develop a similar product. In 2007, TZ�s fastening technology was a development-stage opportunity with great potential but no business. As of today, TZ�s Intevia� intelligent fastening solutions business is entering production with the receipt of a high volume order in one of its key market segments. We believe, as pilot contracts turn into high volume business in coming months, TZ shares will respond favorably and we reiterate our Strong Speculative Buy rating on the shares. About Dutton Associates Dutton Associates is one of the largest independent investment research firms in the U.S. Its 30 senior analysts are primarily CFAs and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 140 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors. The cost of enrollment in our one-year continuing research program is US $35,000 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $37,500 from the Company for 4 Research Reports with coverage commencing on 1/22/2008. We do not accept payment of our fees in company stock. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.