PB had a good day anyway...---------------------------------10...

PB had a good day anyway...
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10 October 2012

PowerHouse Energy Group plc

(the "Company" or "PowerHouse")

Hill Grove assumes $250,000 loan

In the Chairman's Statement accompanying the annual results for the year ended 31 December 2011, the Chairman of PowerHouse stated that Linc Energy Ltd ("Linc") had advised the Company that it had assigned all its rights under the
convertible loan agreement entered into by the Company and Linc on 19 June 2012 to Hill Grove Investments Pty Limited ("Hill Grove"). The Company has been further advised that all obligations under the convertible loan agreement were
assumed by Hill Grove with effect from 19 June 2012 and Linc holds no interest or obligation in respect to such agreement. All loans advanced to the Company to date under the agreement, which amounts to $80,000, have been made by Hill Grove.

Hill Grove holds 20,000,000 ordinary shares in the Company, representing 7.03 per cent. of the issued share capital of the Company. Hill Grove is beneficially owned by Peter Bond, who holds approximately 40 per cent of the issued share capital of Linc, of which he is Chief Executive and Managing Director.

For additional information please contact:

PowerHouseEnergy Group plc
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