TZL Tz Limited

Dutton Associates initiates coverage of TZ Ltd. (ASX:TZL) with a Strong Speculative Buy rating and a $15.00 target price. The 19-page report by Dutton senior analyst Robert S. Stoklosa is available at www.jmdutton.com as well as from First Call, Bloomberg, 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. TZ has only recently received initial purchase orders from its first customers in what should be a large and high growth marketplace. TZ offers investors an early entry to an exciting growth market via a pure-play market leader with perhaps a 3-4 year lead over any direct competition. It has developed, and is commercializing, a novel concept, intelligent fasteners, which seek to replace conventional screws, nuts and bolts in a growing number of applications. Intelligent fasteners are integrated with electronics and software so as to be controlled remotely. Further, sensing capability and network attachment provide for information to stream from the fastener to a central control and storage location. Intelligent fasteners introduce increased functionality � easy installation and use, cost reduction, energy and weight savings, and record and gate-keeping capabilities � to the sector. These characteristics have generated further significant interest in their security and cosmetic design capabilities. We estimate revenues reaching $43 million and $103 million in 2009 and 2010 respective, with 2010 EPS estimated at $.50. TZ is planning a Nasdaq listing in 2008. 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.