ENERGY TECHNOLOGIES LIMITED — AGM Information 2007

Oct 15, 2007

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Notice of Annual General Meeting

Notice is hereby given that the Annual General Meeting of the members of Dulhunty Power Limited (“the Company”) will be held at the Company’s registered office, Unit 2, 35 – 41 Waterloo Road, North Ryde, NSW 2113 on 29 November 2007 at 10.30 am

Ordinary Business

1. Address by the Chairman.

2. Financial Statements

To receive and consider the Audited Financial Statements of the Company and the Reports of the Directors of the Company and Gould Ralph and Company, as the auditor of the Company for the year ended 30 June 2007.

3. The following resolutions are to be considered and, if thought fit, passed as ordinary resolutions of the Members of the Company:

Resolution 1 Remuneration Report

That in accordance with section 250R(2) of the Corporations Act 2001, the Directors’ remuneration report, set out in the Company’s 2007 Annual Report, for the year ended 30 June 2007 be adopted.

The vote on this resolution is advisory only and does not bind the Directors of the Company.

Resolution 2 Re-election of Director

Mr. Richard Llewellyn retires by rotation in accordance with Article 14.3 (c) of the Company’s Constitution, and being eligible, offers himself for re-election.

Resolution 3 Director’s remuneration

That the maximum amount of directors’ remuneration be raised by $350,000.00 to $500,000.00 as a maximum sum payable to all directors as a whole.

4. The following special resolutions are to be considered and, if thought fit, passed as special resolutions of the Members of the Company:

Resolution 4 Adoption of New Constitution

That the company repeals its existing Memorandum and Articles of Association and adopts in its place the proposed new Constitution as displayed on the company’s website: www.dulhuntypower.com

By order of the Board of Directors of the Company

Gregory Knoke Company Secretary 16 October 2007

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Notes:

Proxies

1. A member entitled to attend and vote is entitled to appoint a proxy.

2. A person who is entitled to cast two or more votes may appoint 2 proxies and may specify the proportion or number of votes each proxy appointed is entitled to exercise.

3. Appointment of a proxy by a member who is a corporation must be under its common seal or the hand of its attorney or the hand of a person duly authorised by the corporation.

4. A proxy need not be a member of the Company.

5. To be effective, the proxy form must be received by the Company at Unit 2, 35-41 Waterloo Road, North Ryde, NSW 2113 or received by facsimile on (02) 9870 7299 not less than forty-eight (48) hours prior to the time for holding the meeting.

Corporate representation

If your holding is registered in a company name and you would like to attend the meeting (and do not intend to return a proxy form), please bring with you to the meeting a duly completed Appointment of Corporate Representative Form to enable you to attend and vote at the Annual General Meeting. Alternatively contact the Company’s share registry, Computershare investor Services Pty Limited, investor enquiries 1 300 850 505, who will forward to you a form for completion.

Entitlement to Vote

For the purposes of the Corporations Regulation 7.11.37, the Board has determined that in relation to the Annual General Meeting being convened by this Notice shares will be taken to be held by the persons who are registered holders at 7.00 pm (Sydney time) on 27 November 2007. Accordingly share transfers registered after that date will be disregarded in determining entitlements to attend and vote at the meeting.

Explanatory Notes

This is the Explanatory Statement for the Annual General Meeting of Dulhunty Power Limited (“the Company”) to be held on 29 November 2007. The Explanatory Statement explains the items of business to be considered at the meeting and is provided to assist shareholders in their consideration of the proposed Ordinary Resolutions 1 to 3 inclusive, and Special Resolution 4 contained in the Notice of Meeting, and should be read in conjunction with that Notice of Meeting.

Resolution 1 (Item 3) To adopt the Directors’ remuneration report

The Directors remuneration report can be found at page 9 of the 2007 Dulhunty Power Limited Annual Report. The report sets out the remuneration of Directors and Executives of the Dulhunty Power Group. A Remuneration Committee has been established to evaluate and make recommendations to the Board regarding remuneration policy.

The remuneration report is submitted to Members for consideration in accordance with section 250R(2) of the Corporations Act 2001. The vote on this resolution is advisory only and does not bind the Directors of the Company.

Resolution 2 (Item 3) Re-election of Director

Richard K. Llewellyn (Age 56) (Non Executive Director) Appointed 20 September 2005.

A Company Director with 35 years experience in many senior marketing and management roles primarily in the financial services and IT&T sectors. Mr Llewellyn was CEO of an Australian IT company that grew 10 fold in five years. Vice president and member of the Executive Committee of a NYSE listed IT&T company. Over the past fifteen years involved in managing numerous corporate advisory and funding projects with a total value in excess of $A1 billion. National judge of theTelstra Small Business Awards. Founding member of the AICD and Fellow of AIM. Director and founder of Nextec Strategic Capital. Mr Llewellyn is a member of the Audit Committee.

Resolution 3 (Item 3) Director’s remuneration

The maximum aggregate directors’ remuneration currently stands at $150,000.00 since 1999 when the issue was last addressed at general meeting. It is proposed that this limit be raised by $350,000.00 to $500,000.00, to be the maximum amount of remuneration as an aggregate amount for all directors as a whole. This figure is to be an upper limit and it is expected that actual remuneration will remain below this limit for some time. Since this issue was last addressed in 1999 the company has grown and expanded into new markets, giving rise to a greater need to attract and retain talented directors so that the company may continue to capitalize on its current growth initiatives.

The company is in the process of examining several potential acquisition and technology transfer opportunities. Any consequent growth of the company will require additional independent directors and may require board representation by vendor representatives. The proposed increase on aggregate directors’ remuneration will allow for these developments.

The Australian Securities Exchange (ASX) Listing Rules 10.17 provides that Directors of the Company must be excluded from voting on this resolution. The following statement is made in accordance with Listing Rule 10.17.1:

• 1. The Company will disregard any votes on this resolution by: a) A director of the company excluded from voting and;
  • b) An associate of that person (or those persons).
• 1. However, the Company need not disregard a vote if:

  • a) It is cast by a person as a proxy for a person who is entitled to vote, in accordance with the directions on the proxy form or;

  • b) It is cast by a person chairing the meeting as a proxy for a person who is entitled to vote, in accordance with the directions on the proxy form to vote as the proxy decides.

Special Resolution 4 (Item 4) Adoption of new Constitution

That company proposes to adopt a new constitution to bring it into line with the current practice of having a single constitution replacing the older style ‘Memorandum and Articles of Association’. The new constitution has been carefully prepared by the company’s solicitor to ensure it complies with current Corporations Act requirements and ASX listing rules. The new constitution may be viewed, downloaded and printed from the company’s website: www.dulhuntypower.com

Adopting a new constitution may be effected pursuant to the Corporation Act s 136(2) by special resolution at general meeting.