TZL Tz Limited

TZ Limited (ASX:TZL), inventor of Intelligent Fastening Technology, announced today the promotion of Chris Kelliher to the newly created role of TZ Group, Chief Executive Officer, with overall responsibility for the TZ Group of Companies. The promotion of Mr. Kelliher marks the expansion of TZL's executive team to support anticipated growth through strategic acquisitions and a NASDAQ stock exchange listing in the near term. Prior to his promotion, Mr. Kelliher served as CEO of TZL subsidiary, Telezygology, Inc. (TZ Inc). Mr. Kelliher also successfully oversaw TZL's listing on the Australian Stock Exchange in April 2004, the subsequent relocation of its operations to Chicago, and the acquisition of the Illinois based Product Development Technologies, Inc. (PDT) in early 2005. TZL has entered into exclusive negotiations for the purchase of a leading smart materials supplier, with due diligence nearing completion. Additional strategic acquisitions are also expected as the company moves towards an initial public offering (IPO) in the U.S. "In less than 12 months we have grown from a small Sydney-based company with a revolutionary proprietary technology, to a group of companies with around 150 employees in several international locations," said Mr. Kelliher. "We have delivered on our stated objectives and are optimistic about our future prospects. Our Intelligent Fastening Technology has been broadly recognized as having the potential to revolutionize manufacturing and servicing techniques worldwide, and we believe we have the right strategy in place to make this a reality." Prior to joining TZ Limited, Mr. Kelliher played a strategic role for Microsoft Corporation through the 1990s as managing director of its South Pacific region and before that, managing director of its Australian subsidiary. About TZ Limited TZ Limited develops proprietary technologies including Intelligent Fastening, software, modular building systems, smart materials actuation and medical devices. The company's Intelligent Fastening Technology has been widely acclaimed winning NASA Tech Briefs' Product of the Month in June 2005 and Finalist for its Product of the Year Award. The company possesses the full range of vertically integrated product development capabilities needed to support the development of its proprietary technologies and products. TZ Limited recently relocated its headquarters to Chicago from Australia where it was founded and remains publicly listed on the Australian Stock Exchange (TZL).