SCIDEV LTD — Capital/Financing Update 2007

Feb 28, 2007

ABN 25 001 150 849

Superior and Sustainable Metals Production

Gordon Chia Building [01 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

1 March 2007

Companies Announcements Office Australian Stock Exchange Limited

Exercise of Options under IOP and issue of shares

Under the Intec Option Plan (IOP), options have been issued to directors, staff and key consultants at various exercise prices. The Company has been given notice of the exercise of 1,341,743 options as follows:

• $\bullet$ $1,007,155$ shares at an issue price of $0.069 per share
• 300,000 shares at an issue price of $0.11 per share $\bullet$

Under the IOP, when exercised, each option is converted into one ordinary share. The Company therefore advises the issue of 1,307,155 new shares in INL.

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

Notice Under Section 708A(5)(e)

INL advises that on 1 March 2007 it resolved to issue 1,007,155 fully paid ordinary shares at an issue price of $0.069 per share and 300,000 shares at an issue price of $0.11 per share (New Shares).

INL gives notice that:

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

Jail B

Grahame Clegg 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).

Ť	+ Class of + securities issued or tobe issued	1,307,155 fully paid ordinary shares
2	Number of "securities issued or tobe issued (if known) or maximumnumber which may be issued	1,307,155 fully paid ordinary shares
3	Principal terms of the "securities"(eg, if options, exercise price andexpiry date; if partly paid*securities, the amount outstandingand due dates for payment; if*convertiblesecurities.theconversion price and dates forconversion)	The shares are allotted to five optionholders under theIntec Option Plan from options exercised at $0.069 and$0.11.

4	Do the "securities rank equally inall respects from the date ofallotment with an existing *class ofquoted "securities?	shares.	The securities rank equally with INL fully paid ordinary
	If the additional securities do notrank equally, please state:• the date from which they dothe extent to which theyparticipateforthenextdividend, (in the case of a trust,distribution)interestorpaymentthe extent to which they do notrank equally, other than inrelation to the next dividend,distribution or interest payment
5	Issue price or consideration		1,007,155 shares at an issue price of $0.069 per share
			300,000 shares at an issue price of $0.11 per share
6	Purpose of the issue(If issued as consideration for theacquisition of assets,clearlyidentify those assets)	$0.10 and $0.11.	The shares are allotted to five optionholders under theIntec Option Plan from options exercised at $0.069,
7.	Dates of entering *securities intouncertificated holdings or despatchof certificates	1 March 2007
		Number	+ Class
8	ofNumber*classallandquoted*securitiesASX.$\circ$ on(including the securities in clause2 if applicable)	558,094,361	Fully paid Ordinary Shares
		Number	+ Class
9	Number*classandofall*securities not quoted on ASX(including the securities in clause2 if applicable)	6,645,097	16 July 2007 Options – exercise price$0.24625
		3,879,728	26 November 2008 Options – exerciseprice $0.10
		25,000,000	30 June 2008 Options – exercise price$0.08
		1,275,000	30 June 2009 Options – exercise price$0.49625
		6,382,714	24 February 2010 Options – exerciseprice $0.069
		4,600,000	31 August 2011 Options – exercise price$0.11

10	Dividend policy (in the case of atrust, distribution policy) on theincreased capital (interests)	Rank equally with existing fully paid Ordinary Sharesin regard to future dividends
Part 2 - Bonus issue or pro rata issue
11to33	holderapproval securityls.required?	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

34 Type of securities (tick one) Securities described in Part 1 $(a)$ All other securities $(b)$ 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

A copy of any trust deed for the additional "securities

Entities that have ticked box 34(b)

-38			Number of securities for which $\sqrt{\frac{1}{1}}$ Questions 38 to 42 are not applicable
to	a and transference is sought.
-42

37

Quotation agreement

• "Quotation of our additional "securities is in ASX's absolute discretion. ASX may quote the "securities on any I. 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 $\bullet$ section 1019B of the Corporations Act at the time that we request that the "securities be quoted

Date:

• $\overline{3}$ 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 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:

(Secretary)

Print name:

Grahame Clegg

Appen3b.inl.stp

28 February 2007