SCIDEV LTD — Capital/Financing Update 2003

Sep 18, 2003

Intec Ltd

Superior and Sustainable Metals Production

Gordon Chiu Building [01 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

19 September 2003

Companies Announcements Office Australian Stock Exchange Limited

Intec Ltd Entitlements Issue and Appointment of Director

The Directors of Intec advise that they have today resolved to issue and allot 87,623,490 new Intec shares under the terms of the Company's recent Entitlements Issue, subject to final clearance of the underwritten funds, which is anticipated to occur next week.

Following issue and allotment, Orian Holding Corp., wholly owned by Ivanhoe Mines Ltd., will own approximately 23.2% of the Company's issued shares.

In recognition of this, Intee's Directors are pleased today to welcome Mr Ian Ross to the Intec Board. Mr Ross, a director of, and with executive responsibilities for, a number of operating subsidiaries in the Ivanhoe group, has extensive corporate finance experience throughout Europe, North America, Africa, Australasia and Asia.

In particular, Mr Ross, now resident in Sydney, was a founding director of a group of mining companies located in the People's Republic of China (the PRC) which was acquired by the Ivanhoe group in 1994. His ensuing senior executive roles with Ivanhoe Capital Corporation have included several years resident in the PRC as the Ivanhoe group's Director and as Vice-Chairman of the Shanghai Land Corporation.

The Board expects that Mr Ross's representation of the Ivanhoe group and operational familiarity with the PRC will greatly benefit the Company's future strategy.

An Appendix 3X in relation to Mr Ross is attached.

Yours sincerely Intec Ltd

Philip R. Wood

Philip R Wood Managing Director and Chief Executive Officer

Appendix 3X

Rule 3.19A.1

Initial Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity	Intec Ltd
ABN	25 001 150 849

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Ian Wargent Ross
Date of appointment	19 September 2003

Part 1 - Director's relevant interests in securities of which the director is the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Number & class of securities

100,000 ordinary shares

⁺ See chapter 19 for defined terms.

Part 2 - Director's relevant interests in securities of which the director is not the registered holder

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Name of holder & nature of interest Note: Provide details of the circumstances giving rise to the relevant interest.	Number & class of Securities Nil

Part 3 - Director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	None
Nature of interest
Name of registered holder (if issued securities)
No. and class of securities to which interest relates

⁺ See chapter 19 for defined terms.