Time extension request for purchase of E&T's Mildura winery

Subiaco-headquartered winemaker Evans & Tate Ltd has received a request from UK-based Neqtar Ltd for a one month extension of time to complete the purchase of ETW's Mildura winery by Neqtar's Australian subsidiary, SDS Beverages Food and Wine Pty Ltd.

The requested extension of time is from 30 June to 31 July.

Last week, noteholders of Evans & Tate voted to amend a trust deed of the winemaker under which it was potentially in breach of a liabilities cap.

As at 1200 WST, shares in Evans & Tate were down .4 cents to 7.8 cents.

Below is the full announcement:

SALE OF MILDURA WINERY UPDATE

Evans & Tate Limited (ASX: ETW) today announced that it had received a request from British-based Neqtar Ltd for an extension of time from 30 June to 31 July 2006 to complete the purchase of ETW's Mildura winery by Neqtar's Australian subsidiary, SDS Beverages Food and Wine Pty Ltd. Neqtar has advised that its request is "solely due to the current volatile state of the UK equity markets", and that consequently Neqtar has delayed its public listing on the London Stock Exchange's Alternative Investment Market (AIM) exchange.

Neqtar has also advised that it remains "absolutely committed to complete the acquisition" of the Mildura winery. It now anticipates that this can occur by 31 July 2006.

ETW will meet Neqtar this week to discuss the request for extension and will immediately advise the ASX of its decision.