SCIDEV LTD — Capital/Financing Update 2007

Sep 25, 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 26 September 2007 Australian Securities Exchange Limited

Intec Option Plan

The Intec Option Plan was adopted by the Board of Intec Ltd (ASX code: INL) on 29 May 2000 in order to grant options to purchase shares in Intec to its eligible staff, including Executive and NonExecutive Directors and key consultants (all together 30 ‘Employees’). The intention of the Plan is to align as closely as possible the longer term interests of all Employees with those of Intec’s shareholders, by encouraging all Employees to add value to Intec through their demonstrated loyalty and hard work. This applies particularly in today’s very tight employment market in the Australian mining, minerals processing and engineering industries.

Intec’s scrupulous policy is never to grant options in advance of an Employee’s performance, but only on an annual basis in recognition of his or her completed contribution to our Company’s progress over the previous financial year. In keeping with statutorily approved guidelines, Intec has always limited the number of options at any time granted under the Intec Option Plan to not more than 5% of the issued capital of the Company (presently 559,599,873 shares).

On 20 September 2007, Intec’s Nomination and Remuneration Committee met and approved the granting of 4,700,000 options to the full range of Employees (excluding Directors) in respect of their performance during fiscal 2007. These five year options are exercisable at any time up until their expiry date at a strike price of 15 cents, which represents a 25% premium over Intec’s closing share price of 12 cents on the date of the meeting. Following the signing of the 2007 Annual Report on 24 September 2007, these options were then granted the following day with an expiry date of 25 September 2012.

The Committee also proposed the granting of a total of 6,350,000 options to Intec’s three Executive Directors and four Non-Executive Directors on the same terms, subject to approval by Intec shareholders at our forthcoming Annual General Meeting on 14 November 2007. Assuming that all of these options are approved and granted, there will then be a total of 27,306,930 options granted under the Intec Option Plan.

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ASX code: INL

Based on the 12 cents closing price on the day of its meeting and using Intec’s historic two year price volatility of 53%, the Committee’s valuation of all 11,050,000 options granted (or proposed to be granted) to all Employees using the Black – Scholes option pricing model was $625,000. This compares with the cash inflow of $1,657,500 that Employees would be required to pay into Intec upon exercise of all of these options.

Finally, it should be noted that less than $100,000 total cash/share price gains have to date been realised by Employees under the Intec Option Plan, albeit that they have effectively contributed in cash to Intec many times this amount in order to exercise the relevant options.

Yours faithfully, Intec Ltd

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Philip R Wood Managing Director & Chief Executive Officer