SCIDEV LTD — Capital/Financing Update 2008

Nov 6, 2008

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 Australian Securities Exchange

07 November 2008

Intec Metals Recycling Project Update

As approved by the INL Board on 30 October 2008, Intec Ltd (ASX code: INL) has progressed the relevant agreement and is awaiting action by the other party to the transaction. The relevant documentation has been executed by the parties thereto and is currently held in escrow.

The transaction is subject to a regulatory approvals process in the international jurisdiction, which process remains outside the control of the transaction parties. The approval is still expected, albeit not having been received within the anticipated timeframe earlier this week.

The full details will be released as soon as possible.

Yours faithfully Intec Ltd

==> picture [103 x 58] intentionally omitted <==

Philip R Wood Managing Director and Chief Executive Officer

==> picture [47 x 47] intentionally omitted <==

ASX code: INL