GREENWING RESOURCES LTD — Capital/Financing Update 2005

Sep 29, 2005

Intec Ltd

ASX Code: INI. ABN 25 001 150 849

Superior and Sustainable Metals Production

Gordon Chiu Building J01 Department of Chemical Engineering Maze Crescent University of Sydney NSW 2006 Australia

Telephone: +612-9351-6741 Facsimile: +612-9351-7180 Email: mail@intec.com.au Website: www.intec.com.au

30 September 2005

Companies Announcements Office Australian Stock Exchange Limited

RFI Initial Public Offer Oversubscribed and Closes Early

Intec Ltd (ASX Code: INL) is pleased to announce that Resource Finance and Investments Limited (RFI) has closed its A\$3.5 million Initial Public Offer early having been substantially oversubscribed. The Offer received strong support from INL shareholders under a Priority Offer, and brokers and institutions, including global commodities trading group Sempra Metals $\&$ Concentrates Corp.

The Board of RFI will shortly proceed to allot shares in accordance with the terms of the Prospectus, following which RFI is expected to commence trading on ASX in mid October. Following the allotment of shares under the Offer, INL will hold a 22.1% undiluted interest in RFI.

The RFI press release is attached.

Yours faithfully Intec Ltd

Philip R. Wood

Philip R Wood Managing Director & Chief Executive Officer

For further enquiries, contact:

Kieran Rodgers Business Development Manager & CFO Intec Ltd

02-9351-6741 kieran@intec.com.au

RFI SET TO LIST AFTER RAISING \$3.5M IN OVERSUBCRIBED IPO

DRILLING DUE TO COMMENCE IN OCTOBER ON TASMANIA'S MINERAL RICH MT READ VOLCANICS BELT

Tasmania-focused mineral exploration company Resource Finance & Investments Limited (RFI) is set to shortly make its debut on the Australian Stock Exchange after closing its \$3.5 million Initial Public Offering early and substantially oversubscribed following strong support from brokers and institutions, including global commodities trading group Sempra Metals & Concentrates Corp.

Perth-based RFI is headed by some of Australia's most experienced mining industry professionals including successful mining entrepreneur Don Boyer and ex-Rothschild resource finance executive Mike Rosenstreich. Once listing is complete, the Company plans to immediately commence a busy work schedule on its properties in north-west Tasmania, with drilling set to start in mid-October at the S-Lens copper-zinesilver Mineral Resource at its Que River Project, followed by a drill program at the Mt Charter gold deposit.

RFI Managing Director, Mr Mike Rosenstreich said the Company was delighted with the very strong investor response to the IPO.

"It is particularly pleasing to receive the backing, through the IPO, of a significant metals trading group such as Sempra Metals, which we expect will generate new opportunities as well as complement our existing strategic alliances, including those with mining industry major, Zinifex Limited and Toronto Venture Exchange-listed mineral exploration specialist, Geoinformatics Exploration Inc," he said.

Sempra Metals is a subsidiary of the Fortune 500 energy services company, Sempra Energy (NYSE: SRE).

RFI opened its IPO last month after lodging a prospectus for the offer of up to 17,500,000 shares at 20 cents each to raise up to \$3.5 million, with one attaching option for every four shares subscribed for and a minimum subscription level of \$3.0 million. The group has assembled the largest single land position in the Mt Read Volcanics Belt (MRV) in north-west Tasmania, an area which hosts a number of large-scale base metal and gold deposits, including Henty, Hellyer, Rosebery, Hercules, Mt Lyell and Que River.

Mr Rosenstreich said the MRV belt was now attracting considerable interest from a broader range of companies as a highly prospective exploration area in a favourable regulatory environment.

"We consider RFI is uniquely positioned to benefit from new State Government geological data sets and the exploration expertise of Zinifex and Geoinformatics to substantially grow its Tasmanian asset base," he said. "Our aim is to rapidly become a producer, which is why we negotiated with Intec for guaranteed access to processing capacity at their Hellyer processing plant and why the Sempra Metals relationship is so important to us."

"If our exploration and feasibility work is successful, plant access means we have short-circuited the capital development schedule and associated expenditure and we have an established relationship with a reputable global metals trading group to discuss metal offtake and financing opportunities."

The S-Lens Mineral Resource represents the first target in our "stepping stones to growth" strategy as a potential early cash flow opportunity, followed by feasibility study work on the Mt Charter deposit and assessment of other regional targets, he said.

$\boldsymbol{\cdot}$ ENDS $\boldsymbol{\cdot}$

Released by:
Jan Hope/Nicholas Read
Jan Hope & Partners
Telephone: (08) 9388-1474

On behalf of: Mr Mike Rosenstreich Managing Director
Telephone: (+61-8) 9322 8044
Website: www.rfillimited.com