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ADVANCED BRAKING TECHNOLOGY LTD Capital/Financing Update 2008

Jun 24, 2008

64282_rns_2008-06-24_ca93506c-c909-48df-892d-24ef801c0004.pdf

Capital/Financing Update

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25 June 2008

AUSTRALIAN SECURITIES EXCHANGE

Electronic Lodgment

Dear Sir or Madam,

CLOSE OF RENOUNCEABLE RIGHTS ISSUE

Advanced Braking Technology Limited ( ABT or Company ) advises that its renounceable rights issue ( Rights Issue ) made under a prospectus dated 16 May 2008 ( Prospectus ) closed on Friday, 20 June 2008.

ABT received acceptances under the Rights Issue in respect of 47,910,125 shares. The Company also received applications for shares under the Shortfall Offer ( Shortfall Offer ) in respect of a further 9,101,560 shares. The Shortfall Offer remains open in accordance with the terms of the Prospectus. As of the date of this announcement the Company has raised gross proceeds of $1,140,234 under the Prospectus.

Yours faithfully,

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