FIRST LITHIUM LIMITED — AGM Information 2007

Nov 21, 2007

		No	Resolution	For	Against	Abstain	Discretionary
		1	Re-election of Director – Mr. Pun	16,405,661	55,400	300	25,942
			Kin Wa (Albert)
		2	Re-election of Director – Mr.	16,405,661	55,400	300	25,942
			Graham Keys
		3	Remuneration Report	16,380,961	57,400	23,000	25,942
		4	ACE Director and Employee	13,194,010	80,400	3,186,951	25,942
			Share Option Plan
		5	Issue of Options to Mr. Antony	13,194,010	80,700	3,186,651	25,942
			Middleton
									1

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Advanced Engine Components Annual General Meeting November 22, 2007

“An idea whose time has come…”

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Year’s highlights:

• Chinese OEM engine development completed – sales increased 10-fold

• � Engine sales in Thailand

• Solid progress in Korea, India

• LNG initiatives in Australia

• Engineering Excellence Award for NGVS

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Revenue sources - 2007:

14%

1%

47%

NGVS kits Spares Engines Joint ventures

38%

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NGVS engines cover a wide range of sizes and configurations, providing market flexibility:

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500
450
400
FAW
350
Weichai
HP
300 Dongfeng
Xilian
250
Volvo
200 Renault
150 Isuzu
Force
100
50
5
0
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Forecast revenue sources- 2008:

2%

33%

54%

NGVS kits Spares Engines Joint ventures

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NG is the alternative vehicle fuel of choice:

� Economical – typically 50% of the price of oil � Secure and abundant long-term supply � Environmentally friendly � Advocated by Governments � Widely available commercially � NG technology is established and accepted

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Key benefits of AEC NGVS:

• Low operating costs, no loss of performance

• Meets strict new emission controls

• Range of OEMs and engine sizes and configurations

• Sound, proven technology

• Highly competitive in performance and price

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Our key markets - China:

� NG already accounts for over 1% of China’s total vehicle fuel

� Growth rate currently 11-13% p.a. � Outstrips all other alternative fuels

• 60 cities use NG, rising to 270 by 2010

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LNG Bus on trial in Hangzhou, China

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Our key markets - Thailand:

• Engine manufacture commenced via JV

with Monika motors

• Sales target 600 engines p.a.

• Substantial growth of CNG refuelling stations

• Government support – “Bangkok Clear Sky with NGV” campaign, NG price controls

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Weichai Power display at Bus & Truck exhibition, Bangkok

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Our key markets - India:

“NG fuelled vehicles have provided Delhi with the cleanest public transport fleet in the world. All old commercial vehicles have been phased out, 100,000 vehicles have been converted to NG, and 1,000 new NG buses will be purchased.”

Chief Minister, National Capital Territory, India

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Our key markets - Australia:

Range of Isuzu engines adapted to NG and trialled, initial sales recorded

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AEC’s Global Reach

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Rights issue

� >40% of eligible shareholders participated � $0.9m raised from shareholders

• $2.3m raised in total

• 143.4m shares now on issue

• � 698 Capital 44.5%

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Summary:

2007 provided AEC and shareholders with: � Significant progress in key Asian markets

• Entry to the complete engine market

• Strong new potential within Australia

• Confirmation of world trend to NG

NGVS – “An idea whose time has come”