FIRST LITHIUM LIMITED — Board/Management Information 2009

May 27, 2009

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ADVANCED ENGINE COMPONENTS LIMITED

ACN: 009 081 770

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14 ENERGY STREET PO BOX 3126 MALAGA 6090 WESTERN AUSTRALIA

TEL: +61 8 9209 6900 FAX: +61 8 9209 6999

ISO 9001 Lic.13705 SAI Global

28 May 2009

Company Announcements Office The Australian Stock Exchange Limited By: e-lodgement (ASX code ACE)

Director Appointment

Advanced Engine Components Limited (“ACE” or “the Company”) is pleased to announce the appointment of Mr Ming Fai (Arnold) Chan as a non-executive Director of the Company effective today.

Mr Chan has significant international investment experience. Mr Chan is the President of Dandelion Capital Group (“Dandelion”) a Hong Kong based private financial advisory company with offices in Beijing, Shanghai and Guangzhou. Dandelion focuses on special situation investment opportunities in China.

Mr Chan has over twenty years experience in investment advisory and asset management. Mr Chan established Dandelion, in 2006, and co-founded the KGI Group, a pan–Asian investment bank, in 1997. He has also worked with HSBC and Jardine Fleming, based in Hong Kong, with responsibilities throughout Asia. Mr Chan has a Bachelor of Social Sciences from the University of Hong Kong with a major in Economics.

Mr Chan is a non executive Director of China LotSynergy Holdings Limited a company listed on the Hong Kong stock exchange

The Company also advise that Mr Thomas Liu has resigned as Director of ACE effective today due to increased work commitments. Mr Liu has been a member of the Board since 7 August 2003 and the Company takes this opportunity to thank him for his significant contribution during that time.

For further information please contact: Tony Middleton, Managing Director, on (08) 9209 6911; email shares@advancedengine.com; or visit the ACE website www.advancedengine.com.

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