SCIDEV LTD — Capital/Financing Update 2006

May 4, 2006

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

Phone: 02-9351-6741 Fax: 02-9351-7180 Email: mail@intec.com.au Website: www.intec.com.au ASX code: INL

5 May 2006

Companies Announcements Office Australian Stock Exchange Limited

\$6.05 million placement and issue of shares

The Company has undertaken a placement of shares to excluded offerees (under section 708 of the Corporations Act 2001) to raise \$6.05 million as part of a broader fund raising of approximately \$10 million.

The allotment date for the placement shares will be 8 May 2006, the date when the funds are cleared through the Company's bank account.

Attached is a completed Appendix 3B in respect of the issue of shares.

Notice Under Section 708A(5)(e)

INL advises that on 5 May 2006 it resolved to issue a total of 55,000,000 fully paid ordinary shares at an issue price of \$0.11 per share (New Shares).

INL gives notice that:

• this notice is being given under Section $708A(5)(e)$ of the Corporations Act 2001 $(1)$ (Corporations Act);
• INL issued the New Shares without disclosure to investors under Part 6D.2 of the $(2)$ Corporations Act;
• as at the date of this notice, INL has complied with: $(3)$
• $(a)$ the provisions of Chapter 2M of the Corporations Act as they apply to INL; and
• $(b)$ section 674 of the Corporations Act; and
• $4)$ except as may be set out in this notice, there is no other information that is excluded information as at the date of this notice which is required to be set out in this notice under Section $708A(6)(e)$ of the Corporations Act.

Yours faithfully IntecLtd

Robert J Waring Company Secretary

Appen3bissueofshares

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).

$\mathbf{I}$ $\pm$ Class of $\pm$ securities issued or to | be issued

55,000,000 shares

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

55,000,000 shares

Principal terms of the "securities $\overline{3}$ (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)

Placement of fully paid Ordinary Shares at an issue price of 11 cents

4	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) interest or payment the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment	shares	The securities rank equally with INL fully paid ordinary
5.	Issue price or consideration	The issue price is 11 cents
6	Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)	Placement of fully paid Ordinary Shares at an issue price of 11 cents
7.	Dates of entering *securities into uncertificated holdings or despatch of certificates	8 May 2006
		Number	* Class
8	Number class of and all securities ASX. quoted on (including the securities in clause 2 if applicable)	486,925,979	Fully paid Ordinary Shares
	Number	Number	+ Class
9.	οf †class all and *securities not quoted on ASX (including the securities in clause 2 if applicable)	6,645,097 4,189,196	16 July 2007 Options – exercise price \$0.24625 26 November 2008 Options – exercise price \$0.10
		25,000,000	30 June 2008 Options – exercise price \$0.08
		1,275,000	30 June 2009 Options – exercise price \$0.49625
		8,672,144	24 February 2010 Options – exercise price \$0.069

increased capital (interests)	Dividend policy (in the case of a Rank equally with existing fully paid Ordinary Shares trust, distribution policy) on the in regard to future dividends

Part 2 - Bonus issue or pro rata issue

to -33	required?			11 Is security holder approval $\sqrt{Q}$ Questions 11 to 33 are not applicable.
-----------	-----------	--	--	----------------------------------------------------------------------------------

Part 3 - Quotation of securities

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

$(b)$

Securities described in Part 1

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
36	If the "securities are "equity securities, a distribution schedule of the additional "securities setting out the number of holders in the categories $1 - 1,000$ $1,001 - 5,000$ $5,001 - 10,000$ $10.001 - 100,000$ $100,001$ 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 $\sqrt{\frac{1}{2}}$ Questions 38 to 42 are not applicable
to	$\tau$ quotation is sought
-42

Ouotation agreement

• *Quotation of our additional *securities is in ASX's absolute discretion. ASX may quote the *securities on any $\mathbf{1}$ 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 illegal purpose.
• There is no reason why those *securities should not be granted *quotation.
• 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 applications received by us in relation to any *securities to be quoted and that no-one 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 quoted.
• We warrant that if confirmation is required under section 1017F of the 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 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.
• We give ASX the information and documents required by this form. If any information or document not $\overline{4}$ 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:	R Waring	Date:	5 May 2006
	(Secretary)
Print name:	Robert J Waring

Print name: Appen3b