SCIDEV LTD — Capital/Financing Update 2004

Mar 1, 2004

Intec Ltd

ASX Code: INL ABN 25 001 150 849

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

2 March 2004

Companies Announcements Office Australian Stock Exchange Limited

\$1.65 million Placement

On 20 February 2004 the Directors of Intec Ltd (INL) announced a placement of 15 million fully paid ordinary INL shares at \$0.11 per share to a small group of private investors. These shares were allotted by Directors on 26 February 2004 and rank pari passu with the existing fully paid ordinary INL shares quoted on the ASX. Holding statements have been despatched today.

The shares were issued in reliance on the relief from the resale restriction in subsection $707(3)$ of the Corporations Act 2001 provided in ASIC Class Order 02/1180 (the Class Order), subject to the terms of the Class Order, and in particular in reliance on the Category 1 of Schedule C to the Class Order.

The Company confirms, for the purpose of the Class Order, that all the information of the kind that would be required to be disclosed under section $713(5)$ of the Corporation Act 2001 if a prospectus were to be issued in reliance on section 713, in relation to the offer of the shares, has been disclosed to the ASX.

A copy of Appendix 3B as required by Listing Rule 3.10 is attached.

Yours faithfully Intec Ltd

Robert J Waring Company Secretary

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement. application for quotation of additional securities and agreement

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 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003.

Name of entity

Intec Ltd

ABN

25 001 150 849

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

$\mathbf{I}$ ⁺Class of $\dot{ }$ securities issued or to be issued

Fully paid ordinary shares

$\overline{2}$ Number of ⁴securities issued or to be issued (if known) or maximum number which may be issued

3 Principal terms of the *securities (eg, if options, exercise price and expiry date; if partly paid *securities, the amount outstanding and due dates for payment; if *convertible securities. the conversion price and dates for conversion)

15,000,000 fully paid ordinary shares

15,000,000 fully paid ordinary shares issued at \$0.11 per share are the same as the Company's quoted fully paid ordinary shares with ASX Code INL.

⁺ See chapter 19 for defined terms.

4	Do the securities rank equally in all respects from the date of allotment with an existing "class of quoted securities?		The shares rank equally with the Company's currently quoted fully paid ordinary shares in INL.
	If the additional securities do not rank equally, please state: the date from which they do the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment
5	Issue price or consideration	The placement shares were issued at a price of \$0.11 per share.
6	Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)	The allotment of 15 million fully paid ordinary shares in INL raised \$1.65 million to be used as working capital, principally in defining the technical and economic parameters of the Hellyer Metals Project.
7	Dates of entering *securities into uncertificated holdings or despatch of certificates	Holding statements have been despatched on 2 March 2004.
		Number	+ Class
8	Number and + class οf all *securities quoted ASX. on (including the securities in clause 2 if applicable)	224,696,640	Fully Paid Ordinary Shares

⁺ See chapter 19 for defined terms.

		Number	$+C$ lass
9	Number class" - of all and	23,965,992	Fully Paid Ordinary Shares --
	*securities not quoted on ASX (including the securities in clause) 2 if applicable)		restricted until 2 May 2004
		1,275,000	June 2009 Options 30 exercise price \$0.50
		7,057,122	2007 Options 16 July. exercise price \$0.25
		4,626,008	26 November 2008 Options - exercise price \$0.10
10	Dividend policy (in the case of a trust, distribution policy) on the	future dividends.	All ordinary shares rank equally in regard to any

Part 2 - Bonus issue or pro rata issue

Questions 11 to 33

Not applicable

Part 3 - Quotation of securities

increased capital (interests)

You need only complete this section if you are applying for quotation of securities

• 34 Type of securities (tick one)
• Securities described in Part 1

$(b)$

$(a)$

All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

35 If the "securities are "equity securities, the names of the 20 largest holders of the additional *securities, and the number and percentage of additional *securities held by those holders If the "securities are "equity securities, a distribution schedule of the additional "securities setting 36 out the number of holders in the categories

$+$ See chapter 19 for defined terms.

$1 - 1.000$ $1,001 - 5,000$ $5,001 - 10,000$ $10,001 - 100,000$ $100.001$ and over

37

A copy of any trust deed for the additional *securities

Entities that have ticked box 34(b)

38 Number of securities for which ⁺quotation is sought

Not applicable

• 39 Class of *securities for which quotation is sought
• 40 Do the *securities rank equally in all respects from the date of allotment with an existing 'class of quoted 'securities?

If the additional securities do not rank equally, please state:

• the date from which they do
• the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment
• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment
• 41 Reason for request for quotation now Example: In the case of restricted securities, end of restriction period

(if issued upon conversion of another security, clearly identify that other security)

42 Number and ⁺class of all ⁺securities quoted on ASX (including the securities in clause 38)

Not applicable

Not applicable

Not applicable

Number ⁺Class

$+$ See chapter 19 for defined terms.

Ouotation agreement

• $\mathbf{1}$ *Ouotation of our additional *securities is in ASX's absolute discretion. ASX may quote the *securities on any conditions it decides.
• $\overline{2}$ We warrant the following to ASX.
• The issue of the "securities to be quoted complies with the law and is not for an $\bullet$ illegal purpose.
• There is no reason why those "securities should not be granted "quotation. $\bullet$
• An offer of the "securities for sale within 12 months after their issue will not require disclosure under section $707(3)$ or section $1012C(6)$ of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any $\bullet$ applications received by us in relation to any *securities to be quoted and that noone has any right to return any *securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the *securities be auoted.
• We warrant that if confirmation is required under section 1017F of the ٠ Corporations Act in relation to the *securities to be quoted, it has been provided at the time that we request that the *securities be quoted.
• If we are a trust, we warrant that no person has the right to return the *securities to $\bullet$ be quoted under section 1019B of the Corporations Act at the time that we request that the *securities be quoted.
• $\overline{3}$ We will indemnify ASX to the fullest extent permitted by law in respect of any claim. action or expense arising from or connected with any breach of the warranties in this agreement.
• $\overline{4}$ We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before 'quotation of the 'securities' begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign here:	Robert J Waring	Date: 2 March 2004
	(Company secretary)

Print name: Robert J Waring

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$+$ See chapter 19 for defined terms.