CONNEXION MOBILITY LTD — Capital/Financing Update 2012

May 27, 2012

ECSI LIMITED

ABN 68 004 240 313

Company Update

• Share Purchase Agreements (SPA) have been signed with all relevant parties.
• . Funding provided by ECSI Limited to Synclean to commence work on providing a JORC resource in regard to the coal asset in Hungary.
• Management team employed to oversee the development of the Coal asset.
• Discussions with a cornerstone investor.
• Lodgment of Notice of Meeting (NOM) and Independents Expert Report (IER) with the Australian Stock Exchange (ASX) and Australian Securities and Investment Commission (ASIC).

Share Purchase Agreements

The board of ECSI Limited (ECS) is pleased to announce that the relevant parties have executed all Share Purchase Agreements (SPA) in regard to the proposed announcement announced on 27 January 2012.

ECS subject to shareholders approval and complying with Chapter 1 and 2 of the ASX listing rules have a legally binding agreement in regard to the assets announced on 27 January 2012 (proposed transaction).

Funding to Synclean

ECS have entered into an agreement with Synclean to provide it with funding to allow it continue with advancing the coal project in Hungary.

This will allow Synclean to purchase historical data, employ the resources of local geologists to review the data, and prepare for drilling that will commence in September. This will be the first step in producing a JORC resource within the first six (6) months following the completion of the proposed acquisition.

The funding is by the way of a loan to Synclean that will be extinguished subject to the successful completion of the proposed acquisition. Synclean would under the terms of the agreement reimburse the company within 90 days if the proposed acquisition does not conclude as a result of a breach by Synclean.

Appointment of Consultation

ECS has entered into consultancy agreements with Mr. Kieron Flockton and Mr. Liam Flockton for a period 12 months subject to the successful completion of the proposed transaction.

These appointments will ensure a smooth and continuous development of the project, as both appointees are the founders of Synclean and have been involved on a daily basis with development of the asset.

Mr. Kieron Flockton has also been appointed to the board of ECS, and his credentials can be viewed on a previous announcement made on 31 January 2012.

Mr. Liam Flockton is a qualified Electronics Engineer. Liam has held management positions in many industries, including computer, IT, gold mining, alternative energy and biofuels.

Liam has also wide experience managing very large international projects in the US, Europe (West and East), Africa, and the Far East.

Liam has been involved in the energy sector for over 9 years having established bio fuels projects in Sri Lanka and Hungary, and two Syngas projects in Hungary, gaining invaluable experience and knowledge in the very specialist area of Syngas technology.

Liam was Managing Director of White Coal Energy Kft (Hungary), the company he started with his brother Kieran, and has 6 years' experience in Underground Coal Gas (UCG).

Liam brings a strong and relevant managerial capacity to the business, as well as a strong track record of introducing new technology into very traditional industries.

Discussions with Investor

ECS has entered into discussions with a cornerstone investor and has an in principal agreement with the investor. This will allow ECS to proceed with greater confidence in relation to the proposed announcement.

The funding will by way of an issue of a convertible note with the funding made available to ECS on the finalization and execution of the documentation.

ECS expects to be in a position by 31 May 2012 to finalise the funding.

Lodgment of NOM and IER

ECS now that the SPA's have been completed and executed are in the position to lodge the NOM and IER with ASX and ASIC. We anticipate this will occur on 29 May 2012.

Once we have approval from the regulators, ECS will distribute these notices to our shareholders to allow them to vote for the proposed transaction.

This is an important milestone for the Company, and we wish to thank all our shareholders for their patience and understanding throughout this process.

The board believes the proposed acquisition will provide value for our shareholders.

George Karafotias Director