ENERGY TECHNOLOGIES LIMITED — Capital/Financing Update 2008

Sep 1, 2008

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DULHUNTY POWER LIMTED ACN 002 6794 69 35 Waterloo Road North Ryde NSW 2113 Tel: +61 39853 9997 www.dulhuntypower.com

2[nd] September 2008

Dear Shareholder

Invitation to Participate in Share Purchase Plan 2008

The Board of Directors of Dulhunty Power Limited (“ DUL ” or “ the Company ”) announced on 14[th] August 2008 that it was undertaking a capital raising via a Share Placement (“the Placement”) to raise up to $650,000. As part of this announcement the Company advised the market it was in the process of structuring a larger Capital Raising Program to fund further potential initiatives the Company is currently working on in the energy materials supply market.

In order to give existing DUL shareholders the opportunity to participate in this Capital Raising Program, on behalf of DUL I am pleased to invite you to participate in the DUL Share Purchase Plan (SPP), which will allow you to apply to purchase up to a maximum of $5,000 worth of fully paid ordinary shares in DUL (SPP Shares) without incurring brokerage or other transaction costs. Once issued, the SPP Shares will be identical to other ordinary shares.

The funds raised from the SPP will be partly used to contribute to the working capital and to fund the further investigation of potential acquisition opportunities the Company is currently working on.

The SPP shares can be acquired at the price of AUD$0.04 per share. The last sale price of DUL ordinary shares on ASX prior to the date of this letter was AUD$0.048 and the weighted average market price of DUL ordinary shares in the 30 days prior to the date of this letter was AUD$ 0.0426. This SPP offer is not underwritten. The market price of DUL shares may rise or fall between the date of this offer and the date when the SPP Shares are issued to you. Any such changes in the market price of the shares will not affect the SPP Shares price or the number of SPP Shares offered to you. This means that the SPP offer price may be either higher or lower than the price of DUL’s shares at the time the SPP Shares are issued to you. Accordingly, you should seek your own financial advice in relation to this offer.

The SPP offer opens on Friday 5[th] September 2008 and is expected to close at 5:00pm (Sydney time) on Friday, 26[th] September 2008. The SPP offer is open to all DUL shareholders on the DUL share register as at 7:00pm (Sydney time) on Wednesday, 3[rd] September 2008 (the Record Date) with registered addresses in Australia or New Zealand.

Participation in the SPP is entirely optional. Full details of the term of this SPP offer and how you can participate in the SPP are set out in the enclosures to this letter, including the DUL SPP Term and Conditions. The Directors of DUL urge you to read the enclosures carefully.

If you wish to participate in the SPP offer, please complete and return the Application Form which is enclosed with this letter, together with your cheque, to Computershare Investor Services Pty Limited, by

the closing time 5:00pm (Sydney time) on Friday, 26[th] September 2008. The minimum application is $1,000.

To the extent that the total subscriptions received exceed ASX imposed limits, a pro rata scale back will be effected and refunds (without interest) will be paid in respect of surplus application monies. Fractions of a share will be rounded down to the nearest whole share and residual amounts (being between 0 and 4 cents) will not be refunded.

If you have any questions in respect of the SPP, please contact DUL Share Registry, Computershare Investor Services Pty Limited by email on web.queries@computershare.com.au or by phone on 1300 855 080 (within Australia) or +61 3 9415 4000 (outside Australia).

The Directors ask you to carefully consider this opportunity to acquire additional DUL Shares.

Yours sincerely,

Tony Wingrove Chief Executive Officer Dulhunty Power Limited