SCIDEV LTD — Capital/Financing Update 2003

Aug 12, 2003

Intec Ltd

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

13 August 2003

Companies Announcements Office Australian Stock Exchange Limited

AS2.6 million Renounceable Entitlements Issue

Attached is a copy of the notice sent to Intec shareholders.

Yours faithfully Intee Ltd

Robert J Waring Company Secretary

Intec Ltd

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

11 August 2003

Dear Intec Shareholder

AS2.6 million Renounceable Entitlements Issue

On 17 June 2003 Intec announced a renounceable entitlements issue of three new fully paid Intec shares at A\$0.03 each for every five Intec shares held (the Issue). Fully subscribed, the Issue will result in the issue of 87,623,490 new Intee shares, raising gross proceeds of A\$2,628,705. Intee will use the proceeds of the Issue principally to develop and commercialise the Intec Gold Process and for the acquisition of project interests in relation to Intec's other proprietary technologies.

Taylor Collison Limited and Grange Securities Limited are jointly underwriting the Issue. Rights issue trading will commence on 12 August 2003 and will end on 4 September 2003. The securities to be offered by Intec under the Issue are in a class of securities already quoted on the Australian Stock Exchange (ASX). A prospectus in relation to the Issue will be sent to shareholders on Intec's share register on the record date of 18 August 2003 and is scheduled to be mailed on 21 August 2003. The closing date for the receipt of acceptances or renunciations is 11 September 2003. Holding statements are expected to be despatched to shareholders on 2 October 2003. Any person wishing to acquire the securities will need to complete the application form that will accompany the Prospectus.

Further details of the Issue, including the Prospectus, were contained in the announcement to ASX of 7 August 2003 which may be viewed on our website www.intec.com.au.

Yours faithfully Intec Ltd

Kitzi R. Wood

Philip R Wood Managing Director and Chief Executive Officer