FIRST LITHIUM LIMITED — Capital/Financing Update 2010

Mar 8, 2010

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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

9 March 2010

Company Announcements Office Australian Securities Exchange

By: e-lodgement (ASX code ACE)

DISPATCH OF RIGHTS ISSUE DOCUMENTS

Advanced Engine Components Limited (“ACE” or “the Company”) advises that further to the Company's announcement dated 23 February 2010 regarding the Company's non-renounceable rights issue (Rights Issue), the Company confirms that it has completed the dispatch of the Rights Issue Offer Document and Entitlement and Acceptance Form to eligible shareholders.

If you have any questions in relation to the Rights Issue, please contact the Share Registry, Computershare Investor Services Pty Limited, on 1300 725 613 or +61 3 9415 4000.

For further information please contact: Tony Middleton (Managing Director) on (08) 9209 6900; or email shares@advancedengine.com

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