SCIDEV LTD — Capital/Financing Update 2007

Nov 5, 2007

ABN 25 001 150 849

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

Companies Announcements Office 5 November 2007 Australian Securities Exchange Limited

Concentrate Sales Agreement Signed with Baiyin

Intec Ltd (ASX code: INL) is pleased to announce the formal signing of a 20,000 tonnes per annum sales contract with Baiyin Nonferrous Group Co. Ltd for the export of high-lead bulk concentrate from the Hellyer Zinc Concentrate Project Joint Venture. The signing ceremony took place on Wednesday, 31 October 2007 in the town of Tullah, nearby to Hellyer in northwestern Tasmania.

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Left to right: Mr Clive Carroll, Director, Polymetals (Hellyer) Pty Ltd Mr Qi Chengzhang, Director, Baiyin Nonferrous Group Co. Ltd Mr Philip Wood, Managing Director & CEO, Intec Ltd

The contracted concentrate represents a second specification of bulk zinc-and-lead concentrate to be produced from the Intec Hellyer Mill, with approximately 2:1 zinc:lead ratio, and a total combined Zn+Pb grade of approximately 48%.

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ASX code: INL

The production of the higher-lead product will enable the Intec Hellyer Mill to achieve higher zinc and lead recoveries from the same throughput of tailings feedstock, while generating higher returns for the 50/50 joint venture partners based on the current high prices in the global lead market. Overall, the increased extraction efficiencies will enable the life of the Hellyer resource to be extended by more fully utilising it over a longer period.

Yours faithfully, Intec Ltd Philip R Wood Managing Director & Chief Executive Officer

Background Notes:

The Intec Hellyer Mill, the Hellyer tailings resource and the associated assets are 100% owned by Intec Ltd. The Mill was restarted as the Hellyer Zinc Concentrate Project in December 2006 in joint venture with Polymetals, one of Australia’s largest unlisted mining groups. Under the terms of this 50/50 joint venture agreement, Polymetals will operate the Intec Hellyer Mill for four years (expiring 1 December 2010) or until 6 million tonnes of tailings have been processed, whichever comes first. At the end of the agreement, Intec has the right to purchase Polymetals’ half share for A$1.

Intec Hellyer Metals Pty Ltd is also in the process of implementing at Hellyer the first commercial project utilising the Intec Process, a patented Australian hydrometallurgical technology for the recovery of base and precious metals from a range of different feedstocks. Scheduled for construction in 2008 and operation in 2009, the Hellyer Residues Project to recycle EAF dust (a zinc-bearing waste from steel recycling) will share the Hellyer site, offering a number of synergies between the two operations.