SCIDEV LTD — Capital/Financing Update 2007

Feb 13, 2007

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

Companies Announcements Office Australian Stock Exchange

14 February 2007

Hellyer Zinc Concentrate Project (HZCP): First Payment Schedule

Intec Ltd (ASX code: INL, or the Company) confirms that payment in the amount of US$1.86 million is scheduled to be received on 21 February 2007 into the Company's bank account in respect of 90% of the provisional value of its shipment of bulk zinc concentrate that left the Port of Burnie on January 30, 2007. This payment represents Intec's 50% share of the HZCP revenue after deduction of smelter treatment terms.

Further analysis of the shipment of 4,968 dry tonnes (5,511 wet tonnes) has shown that the grade of the bulk zinc concentrate was higher than previous estimates. Using a more accurate 'wet' analysis method than that applied onstream during processing at the Intec Hellyer Mill, it was found that the shipment contained an average grade of 41% Zn, 9% Pb and 210g/t Ag.

There will have been a slight payment delay due to the requirement to conform shipping documentation with the favourable revised assay.

Production from the Hellyer Zinc Concentrate Project (HZCP) continues at the annual rate of $\sim 63,000$ tonnes per annum. Two-thirds of this production is currently sold under long-term formula-based contracts to two Chinese smelters, with the uncontracted production also sought by the existing customers and others.

Intec is currently putting in place a long-term working capital/hedging facility with Macquarie Bank, though at present none of the bulk zinc concentrate production from the HZCP is hedged.

Yours faithfully, Intec Ltd

Philip R. Wood

Philip R Wood Managing Director & Chief Executive Officer