Stephen CoatesPresident & CEO

March 2008

Investor Inquiries:

1 Berkeley Street, Suite 307

London, UK W1J 8DJ

Tel: +44 (0)20 7016 9881, Fax: +44 (0)20 7016 9100

info@homelandenergygroup.com

Investor Inquiries:

Naomi Nemeth, VP Investor Relations

144 Front Street, West

Toronto, ON CANADA M5J 2L7

Tel: +1 416 506 1979, Fax: +1 416 362 6830

info@homelandenergygroup.com

2

LegalThis private investor presentation (the ‘Presentation’ is confidential and proprietary and may be furnished to prospective investors in connection with the private placement of the common stock of Homeland Energy Group Ltd. (‘HEG or the ‘Company’) for such investor’s confidential use with the express understanding that, without the prior written consent of HEG, such persons will not release this document or discuss the information contained herein or make reproduction of or use this Memorandum for any purpose other than evaluation of a potential investment in the common stock of the Company.This Presentation does not constitute an offer to sell or solicitation of an offer to buy the common stock in any jurisdiction where, or to any person to whom, it is unlawful to make such offer or solicitation. This Presentation is not intended to provide the sole basis of any investment decision or other evaluation. Each recipient hereof contemplating an investment in the common stock of HEG shall make, or shall be deemed to have made, their own independent investigation of HEG and related documentation and their own appraisals of the prospects and merits of the Company and its assets described herein.All forecasts, facts, information, estimates and other statements of opinion contained in this Presentation have been prepared solely by, or on the basis of information supplied to, HEG. While the information contained herein is believed to be true and accurate, we expressly disclaim any and all liability for representations or warranties, expressed or implied, contained herein, or in any other written or oral communications transmitted or made available to any prospective investor. No representation or warranty is made by HEG that forecasts, projections, business goals or estimates contained herein will be achieved.This Presentation speaks as of the date hereof. Neither the delivery of the Presentation nor any sale made hereunder shall, under any circumstances, create any implication that there has been no change in the affairs of the Company after the date hereof. The historical resource estimate of 382 million tonnes of coal for the Eloff Mining Project is based on data and reports prepared by previous operators and information provided by government ministries. The Company has not yet completed the work necessary to have the historical estimate verified by a Qualified Person. The company is not treating the estimate as a current NI 43-101 defined resource and the historical estimate should not be relied upon. The property will require additional exploration which the Company and its consultants intend to carry out in due course.

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The Company

Offices in London, Toronto, Witbank (South Africa)

145.1 million shares on issue, market cap of approx. C$181 million

Listed on TSX March 5, 2008 under the symbol HEG

Main coal properties in South Africa (Eloff & Kendal Mining Projects)

Estimate of up to $80 million/yr in EBITDA from Kendal and Eloff by 2011

Strong BEE partners –working knowledge of Coal Mining, South Africa & DME

Significant regional exploration & development projects

Owns 39% of Homeland Uranium (private), 15% of Altona Resources (AIM:ANR)

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Our History

Company founded by Steve Coates & Avrom Howard as Homeland Uranium Inc; raised seed capital of $106,000

Dec 2004

Mar 2005

Pan African Uranium (Niger) formed by Tom Griffis, raised $1M in seed finance

Jun 2005

Investment of $1.8M by RAB Capital; acquisition of uranium project in Colorado

Jan 2006

Homeland completes acquisition of Pan African Uranium for C$4,200,000 in stock

Coal project acquisition in South Africa including Eloff, Vlakvarkfontein & Onbekend

May 2006

Nov 2006

Oct 2006

Jun 2006

Raised US$6.2M @ $2.21; completed acquisition of Kendal with licence under applicationCompany re-domiciles to BVI, opens offices in UK, changes name to Homeland Energy Corp; first prospecting licences granted in South Africa (including Eloff & Onbekend)

Agreement to spin out uranium assets to Homeland Uranium Inc (HUI)

Jan 2007

Completes spin out of HUI

Drilling program begins at Eloff to modernise and confirm Historic Resource of 382Mt

Apr 2007

Jun 2007

Aug 2007

Aug-Dec 07

Dec 2007

Raised C$10.6M @ $2.25; completes RTO agreement with Chrysalis Capital IV CorporationConstruction of Kendal Mine plant begins

Raised C$4.3 @ $3.20 - $4.40 and received C$500,000 through option exercises

Receives mining permit for Northfield project, completing the acquisition of this propertyRaises C$2.4M @ $4.40; completes 12,000 metres of drilling at Eloff

Jan 2008

Feb 2008

Mar 2008

Acquires 15.6% of Altona Resources (AIM:ANR) in transaction valued at C3.45M based on share price of $4.80; admitted for public trading on the TSXAnticipate new resource statement for Eloff project based on all new drilling to Jan 2008; anticipate mining permit for Kendal

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Key Strengths

1. Coal production from Kendal Mine (Q1/08)

2. Development of Eloff Coal Mining Project

3. Coal production from 4 reprocessing

projects

– Environmental Clean-up Projects

4. Exploration & evaluation of potential coal

projects

6

Project Locations

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Kendal Mine

1,800,000 mtpa production to commence in H1/08

Mining licence anticipated in March ’08, plant 95% complete

Mining contract to be awarded in April ’08

Operating cashflow from first 5 years: $US 145 million (forecast)

$US 20M (2008)

$US 28M (2009)

$US 30M (2010) Management Forecast, Dec ‘07

$US 32M (2011)

$US 35M (2012)

Washed Coal Qualities - up to 26mJ/kg, 20% Ash, 53% FCC, 4% H2O, low sulphur

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Kendal Project (1)

US Dollars Equiv. (2)

Annual Production Figures Updated January 1, 20081,800,000 tonnes

(1,400,000 t salable)

Cost of Production:Crushed & Screened (C&S) $11.00/tonne

Washed $17.00/tonne

Revenue:Crushed & Screened (C&S) $13.00/tonne

Washed $50.00/tonne

Operating Margin:Crushed & Screened (C&S) $ 2.00/tonne

Washed $33.00/tonne

EBITDA

600,000 tonnes (43%) Raw $1.2 MM

800,000 tonnes (57%) Washed $26.4 MM

Total $27.6 MM

Annual Operating Cash Flow: Total Net to HEG (74%) $20.4 MM

(1) Figures are based on Management Estimates(2) Exchange rate of 8.00 rand = US$1.00

Note: Homeland holds a 74% Interest in the above

Kendal Mine Cash Flows

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Environmental Clean-up Projects

Numerous opportunities in South Africa for cleaning up old coal mines with remaining economic resources

Recently received permission from SA Gov’t to sample and test several coal dumps

First project, Northfield, commenced production in Feb 2008

Initial production from Northfield of up to 25,000 tpm with net cash flow forecasts of up to US$5.9MM/yr

Homeland intends to develop an environmentally important business line of old mine clean-up which could add production and cash flow of up to 100kt and US$1.5M/mo (up to US$18M/yr)

10

Eloff Mining Project

More than 180 drill holes completed to date

12,000 m of drilling completed by Jan 31/08

Inferred resource of 382Mt* (resource update pending)

Additional resources under acquisition

Potential for mine-mouth electrical generating plant or coal-to-liquids

Raw coal qualities: ~16mJ/kg (washable to 20-26MJ/kg), 15- 33% ash, low moisture, low sulphur

* See disclaimer on slide #2

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Projected Coal Operations

ProjectName

ProductionDate

Cap Costs (US$)

Production (Mtpa)

Resources (M Tonnes)

Mine Life (Yrs)EBITDA (US$/Yr)

Kendal Thermal/Met

Q2/08 $ 9.5M 1.8 34 ** 15 $ 21M

NorthfieldsCoking Coal

Q4/07 $ 400k 0.3 1 ** 3 $ 3M

Eloff - Phase IThermal/Met

Q4/09 $ 150M 6 100 15+ $ 35M

Eloff - Phase IIThermal/Met

Q4/10 TBD 6 282 35 TBD

TOTALS $ 160M 8.1 (to 18) 400 + ** +/- 30 Yrs $ 59M

** indicates that these figures are based on historic data and have not been independently verified. As such these resource figures cannot be relied upon.•EBITDA reflects Homeland’s NET interest•Figures do not reflect accretion from potential acquisitions•All estimates are based on Management Projections

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South Africa Assets

Onbekend Deposit (BEE partner – 50%)

Prospecting Licence granted, resource potential of several million tonnes metallurgical coal, 2,864 acres. Resource definition drilling commenced Q2 2007 and is ongoing

Witrand Deposit (BEE partner – 50%)

Prospecting Licence granted, resource potential of several million tonnes metallurgical coal, 1,577 acres. Drilling began in Q4 2007

Vlakvarkfontein Deposit (BEE partner – 50%)

Prospecting Licence granted, resource potential of +2 million tonnes thermal coal, 1,117 acres. Resource definition drilling began in Q4 2007

Boschpoort Deposit (BEE partner – 50%)

Prospecting Licence granted, large resource potential of thermal coal, 1,645 acres. Resource definition drilling commenced in Q4 2007

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South Africa Assets (cont’d)

Carolina Deposits (Tyfwelaar, Blenheim, Steynsdraai, Vaalbult) (BEE partner – 50%)

Prospecting Licence granted, 8,694 acres, Data currently being acquired, Resource definition drilling commenced in Q4 and is ongoing

Additional Deposits (BEE partner – 50%)

3 additional Prospecting Licences granted, nl. Sheepmoor; Langsloot & Project X, Drilling to commence in Q1 2008

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Exploration Projects

Kwa-Zulu Natal DepositsProspecting rights granted on 9 farms, 6761 Acres. Large resource potential of anthracite and coking coal. Acquisition deal with BEE Partner in final stages of completion.

Swaziland Coal Deposit

Homeland has applied for a Prospecting and Mining license for anthracite deposit at Mpaka Coal. Has been short-listed for consideration.

Botswana Coal

Five concessions with prospecting rights awarded to local partners. Potential for thermal coal, gasification and Coal Bed Methane. Acquisition deal with local partners in final stages of completion.

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Investment Opportunity

Development of a mid-tier coal producer

Cash flow anticipated in 2008

Newly TSX-listed company (C$1.50 at listing)

Potential subsequent AIM/JSE listing in 2008

Significant exposure to a new global uranium play 39% ownership in Homeland Uranium

16

Operating Plans

Complete licencing & commence production at Kendal mine in early 2008

Drill, confirm & licence Eloff for production by end of Q2 2009

Continue discussions for off-take of coal from main projects

Progress environmental assessments and mine planning

Progress prospecting projects to feasibility

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Q1 2008 Q2 2008 Q3 2008 Q4 2008

Development Projects

Kendal mining licence

Kendal to full production

Northfield to full production

Eloff development, mine permitting, resource definition, environmental permitting

Exploration Projects &

Project Acquisition

Onbekend, Boschpoort & Carolina Deposits definition drilling

New project acquisition and evaluation

Focus on new, advanced projects

Corporate RTO to TSX Aftermarket coverage Possible Eloff Financing

Northfield start-up

Project Timelines

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A. Tom Griffis, Executive ChairmanMore than 20 years experience with resource investment and exploration in AfricaFounder and director of several public companies in Canada and the UK

Stephen Coates, Chief Executive Officer Former investment professional specializing in the mining and exploration sectorsBusiness development in the gold and copper exploration sectorsFounder of Homeland Energy

Mike Nell, Managing Director, Homeland Mining & Energy SA (PTY) Ltd.Formerly with Anglo Coal and of Injula Mining, both of South AfricaSpent 27 years in the coal and mining sectors in AfricaResponsible for development of Homeland’s coal mining operations

Stephen Woodhead, CA (South Africa), Chief Financial OfficerFormer CFO of Desert Sun Mining, Toronto CanadaExperience with 12 public resource companies trading in Canada, UK, USA & South AfricaSouth African native with more than 16 years experience in the mining & public finance sectors

Sharad Subramanian, EVP, Business Development - India22 years of international energy sector experienceExtensive international experience with large, multi-national energy companies - Schlumberger & SaipemMost recently a Partner with international accounting and business consulting firm, Grant Thornton

Malibongwe (Reeboh) Mandela, VP, Business Development - AfricaFormer VP Business Development for Energetic PetroleumExtensive background with the ANC and the Government of South AfricaResponsible for the Company’s Government Relations and new business initiatives in Africa

Management Team

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Stephen Coates, Founding Director - London, UK

President & CEO, Homeland Energy Corp,

A. Tom Griffis, Chairman, Director - Toronto, Canada

Founder and Chairman of Griffis International Limited

Avrom Howard, Founding Director - Colorado, USA

VP Exploration, Homeland Uranium Inc.

Laurence Curtis, Independent Director - Oakville, Canada

President and CEO, Intrepid Mines Limited

Neil McLoughlin, Independent Director - Paris, France

Board of Directors

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Bruce Buthelezi, Johannesburg, South Africa - Managing Director, Energetic Petroleum PTYMr. Buthelezi has been a force in the energy sector in Africa since the founding of Energetic Petroleum. Mr. Buthelezi’s influence and knowledge of regional and national politics is critical to Homeland’s strategic plans going forward. Mr. Buthelezi, along with Mr. Mandela and Mr. Motalaote form the key African strategic advisors to Homeland Energy Corp.

Laurence Curtis, Toronto, Canada, President, Intrepid MinesInternationally renowned exploration geologist with more than 35 years experience in exploration geology around the world including 10 years in uranium exploration and development. Dr. Curtis serves as President and CEO of Intrepid Mines Limited and also serves on the board of High River Gold Mines and Alturas Resources. Dr. Curtis is a key individual in identifying and evaluating uranium assets in North America.

Mlungisi Lulu Johnson, Port Elizabeth, South Africa - MP, Gov’t of South Africa

Mr. Johnson is an ANC Member of Parliament (National Assembly) in the Republic of South Africa. Mr. Johnson serves on the Government’s Portfolio Committee of Finance and of the Standing Committee on the Auditor General. As Chairman of Africa Liquids Energy, a South African company associated with Homeland Energy, Mr. Johnson is active on behalf of Homeland with respect to many of the company’s activities in South Africa.

Tshepo Kgadima, Johannesburg, South Africa - CEO, Lontoh South Africa

Mr. Kgadima is a specialist in Black Economic Empowerment and the South African regulations dealing with Historically Disadvantaged Individuals. Mr. Kgadima is responsible for ensuring that Homeland’s licenses and applications for prospecting and for mining are not only within government guidelines, but exceeding them. Lontoh South Africa is also the managing partner of Homeland’s applications for coal licenses in Swaziland. Mr. Kgadima is assisted by Mr. Bheki Simelane who is a retired lawyer from Swaziland and is consulting presently.

Setty Motalaote, Gaborone, Botswana - CEO, Wave Waste

Mr. Motalaote is an entrepreneur in environmental management and global environmental Mr. Motalaote is a key member of the Homeland team in his ability to identify opportunities and represent the vision and interests of Homeland Energy in Botswana and elsewhere in southern Africa.

Key Strategic Advisors

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Martin Bartle, Executive General Manager, HMESAMr. Bartle possesses more than 27 years experience in Training, SHEQ, Risk Management and Strategic Management. He is a recognized expert in Mine Health, Safety and Training in South Africa. Mr. Bartle previously held senior management positions within Anglo Coal, Eyesizwe and Exxaro Corporations.

Xolani Gamede, Middelburg, South Africa, Corporate Secretary, HMESAMr. Gamede is an admitted Attorney having obtained his LLB from UDW (UKZN) specializing in Mining and Securities Law. Mr. Gamede joined the Dept. of Minerals and Energy in 2002, serving most recently as Deputy Director (Mineral Law) in Durban. Mr. Gamede is responsible for legal affairs and contracts of HMESA.

J. Andrew Johnson, Middelburg, South Africa, General Manager, Mining & PlanningMr. Johnson is a professional Mining Engineer with many years experience operating and planning mines in Britain, South Africa, Angola and Mozambique specializing in coal. With experience in large corporate systems and single operations, Mr. Johnson also has extensive experience with long term mine budgeting and financing.

Owner Siweya, Johannesburg, South Africa, Manager of License ProcessingTrained in Law and very experienced with South Africa’s Department of Mines and Energy (DME) operations. Mr. Siweya heads three of Homeland’s local black empowered partners and is responsible for shepherding Homeland projects through the application processes in the DME.

Hanno Spangenberg, Johannesburg, South Africa, Engineering ManagerMr. Spangenberg has 18 years experience in the coal mining sector in South Africa. Trained and certificated as an Electrical Engineer, he is responsible for site and establishment and operations at Homeland’s Kendal Mine as well as well as overseeing planning and design of the Eloff Mine and other projects in South Africa. Mr. Spangenberg joined Homeland in 2006 from BHP Billiton.

Joe Rensburg, Middleburg, South Africa, ManagerMr. van Rensburg has 26 years experience in the Mining Industry, including Financial Management Training and Health and Safety Management.  Mr. van Rensburg worked at Trans-Natal and Xstrata before joining Homeland.  He is currently responsible for Health, Safety and Environment.

Key Technical Team

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Corporate Profile at IPO

1. Two operating coal mines producing more than 2 MTPY and increasing to 3 mines and more than 6 MTPY by 2010

2. One advanced project moving to production in 2008

3. Two exploration projects moving to Feasibility stage in 2008

4. Control of expected in situ coal resources in South Africa in excess of 400 Mt

5. Drilling on possible Botswana property with potential for > 1B tonnes

6. Swaziland coal property with potential for production in 2009

7. Significant position of Homeland Uranium (Niger/US)

23

Capital Structure

Canada:

144 Front Street West, Suite 780Toronto, ON M5J 2L7

Tel: +1 416 506 1979Fax: +1 416 362 6830

United Kingdom:

1 Berkeley Street, Suite 307London W1J 8DJ

Tel: +44 (0)20 7016 9881Fax: +44 (0)20 7016 9100

Shares Outstanding 145,001 ,117

Fully Diluted 158,273,646

Cash PositionJanuary 31, 2008

C$5.0 million

Homeland Energy Homeland Energy GroupGroup

Naomi Nemeth, VP Investor Relationsinfo@homelandenergygroup.com

nnemeth@homelandenergygroup.com Tel: +1 416 506 1979Fax: +1 416 362 6830

24

Coal as a Needed Energy Source

Source: World Coal Institute, 2006 figures

World Primary Energy Consumption

World Electricity Generation

25

Asian Demand Growth

IndiaSA exports to India have increased from 1.3 Mt in 2003 to 8.7 Mt in 2007

50 Mt/a of imported coal will be required by 2010 to fuel coastal power stations on the west coast

Queuing lanes in Newcastle have caused a surge of interest in SA coal from Indian buyers

ChinaConsumes 1.3 billion Mt per annum,

In early 2007 became a net importer of coal

New electricity generation is predominately coal fired

Will be short 120mt/a by 2020

26

Eskom’s Current Generation Mix

• 93% Coal Fired Generation in South Africa

Type Number of Plants Installed Capacity

Coal Fired 13 32 066 MW

Nuclear 1 1800 MW

Pumped Storage 2 1400 MW

Hydroelectric 6 600 MW

Gas Turbines 2 342 MW

TOTAL 24 36 208 MW

27

Eskom’s Strategy

South Africa has no excess electrical generation capacity

Investing 150 billion ZAR over 20 years to meet growing demand

Plan to increase generation capacity to 80,000Mw

15,000 Mw of new generation will be coal-fired

New demand for 50 mt/yr coal to meet planned expansion

28

Thank you

Investor Inquiries:

1 Berkeley Street, Suite 307

London, UK W1J 8DJ

Tel: +44 (0)20 7016 9881, Fax: +44 (0)20 7016 9100

info@homelandenergygroup.com

Investor Inquiries:

Naomi Nemeth, VP Investor Relations

144 Front Street, West

Toronto, ON CANADA M5J 2L7

Tel: +1 416 506 1979, Fax: +1 416 362 6830

info@homelandenergygroup.com