ENERGY TECHNOLOGIES LIMITED — M&A Activity 2010

Nov 21, 2010

22[nd] November, 2010

==> picture [120 x 81] intentionally omitted <==

Dulhunty Power Ltd ABN 38 002 679 469

Commencement of Due diligence

As previously announced, Dulhunty Power Ltd (DUL) has received an unsolicited, non binding proposal from an international company to acquire all the shares owned by DUL in Dulhunty Power International (DPIL)

The Proposal remains confidential and incomplete and therefore not presently an offer capable of acceptance. However, after discussions with the third party aimed at clarifying certain aspects of their proposal, the Board of directors of DUL has signed a non binding Letter of Intent and has agreed to allow the third party sufficient access to the company’s records to carry out high level due diligence.

An outside party has been engaged to provide data room facilities and the due diligence process has commenced.

While DUL intends to engage in further discussions with the third party during and after the due diligence process, the Board considers that there are several important issues which will require agreement and therefore shareholders are reminded that the Proposal received continues to remain non binding and may not develop into a formal binding offer. Accordingly this announcement is being made only in the interests of updating shareholders.

It is expected that the first stage high level due diligence process will not be completed until after the 31[st] of December and the Board of DUL looks forward to updating shareholders following that date.

At the conclusion of the current steps, the parties may move to negotiation of a formal legally binding agreement. It is expected that shareholder approval of any disposal of DPIL shares by DUL will be required under ASX listing rules and this will afford shareholders with an opportunity to consider the proposed terms of any agreement and to vote on whether the disposal should proceed in due course, should DUL and the third party agree terms.

DUL will continue to keep shareholders informed of any material development in relation to the Proposal.

-END-

For further information please contact:

Mr. Tony Wingrove Mr. Greg Knoke website: Managing director Company Secretary www.dulhuntypower.com Dulhunty Power Ltd Dulhunty Power Ltd 35 Buckley Grove 2/35 Waterloo Rd. Moolap, Vic, 3221 North Ryde, NSW, 2113 (613) 5248 1661 (612) 9870 7277

About Dulhunty Power Limited.

Dulhunty Power Ltd is a global supplier of construction components to the electricity transmission and distribution sector with design facilities in Australia, China and Thailand supported by manufacturing plants in those countries and Malaysia. The United States is serviced by a warehouse in Mississippi and the international sales office is located in Auckland.

The company is focused on growth by acquisition and development of companies and technologies that service the electricity supply industry. Revenue for F2010 exceeded $20m and new products for electricity distribution and temporary power supply are planned for calendar 2011. Group employment totals more than 170.

Dulhunty Power Ltd provides its services through 3 divisions:

Dulhunty Power International: designs, manufactures and distributes transmission and distribution products for the electricity industry to customers in Europe, Asia, Africa, North America and Australasia.

Cogenic: designs and develops low emission, high efficiency generators

Duhunty Poles Pty Ltd: holds the exclusive rights for Australia and New Zealand for patented technology for the production of light weight, unburnable power poles and manufactures single piece poles to 12.5m at a purpose built factory in Victoria.