SCIDEV LTD — Capital/Financing Update 2008

May 29, 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

30 May 2008

Fully Underwritten Renounceable Rights Issue – Notice to Shareholders

The attached letter is today being dispatched through a mail-out to all registered shareholders of Intec Ltd (ASX Code: INL) by our Share Registry, Registries Limited.

Yours faithfully Intec Ltd

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Philip R Wood

Managing Director & Chief Executive Officer

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ASX code: INL

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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

30 May 2008

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Dear Shareholder

FULLY UNDERWRITTEN RENOUNCEABLE RIGHTS ISSUE

On 28 May 2008, Intec Ltd (ASX Code: INL) announced the terms of a fully underwritten renounceable Rights Issue to replenish operational funds invested in a series of capital outlays to accelerate and secure Hellyer’s long-term future. These investments have principally included:

• the Hellyer tailings dam dredge vessel and contract buyout (A$2.8m, for the further tailings mine life of six years) ;

• the Que River electricity substation refurbishment (A$2.0m, extending its effective life for 20 years at a significantly enhanced capacity to cater for the Intec Metals Recycling Project) ;

• strategic investments in Hellyer regional miner/explorer Bass Metals Ltd (A$3.9m, the present market value of Intec’s interest in Bass Metals being A$6.3m) ; and

• Victorian and Tasmanian EPA bonds (A$5.0m, securing A$35.0m contained metals value in EAF dust and refundable upon treatment) .

As may be seen, this capital expenditure (totalling A$13.6m) directly maximises the profitability and longevity of the Hellyer Zinc Concentrate Project and the Intec Metals Recycling Project. However, rising costs (power, reagents, labour, shipping and smelter charges) combined with recent markedly reduced A$ prices for zinc and lead metal, have meant that, while still cashflow positive, the Hellyer Zinc Concentrate Project alone is not able to generate revenues to prudently cover all of the above activities and investments.

Your Directors have therefore decided, with understandable reluctance, to raise additional equity capital from our Shareholders to replenish a large proportion of the operational funds that have been invested in the above capital outlays. We are doing this by the fairest means possible, being a fully underwritten renounceable Rights Issue (i.e. pro-rata to all of Intec’s Existing Shareholders).

The Rights Issue Prospectus was lodged with the Australian Securities and Investments Commission (ASIC) and the Australian Securities Exchange (ASX) on 28 May 2008 and is available for review on the ASX website www.asx.com.au or on the current quarter’s Announcements page of the Company’s website www.intec.com.au. Words used in this letter have the same meaning as in the Prospectus.

All of Intec’s Existing Shareholders on the register at 5:00pm AEST on 6 June 2008 will be entitled to participate in the Offer by taking up their Rights (comprising one New Share and one free attaching New Option for every five Existing Shares held) at A$0.05 each. Thus 111,919,975 New Shares together with 111,919,975 free attaching New Options will be issued to raise A$5.6 million (before costs).

INTEC LTD RIGHTS ISSUE

Following completion of the Offer, the following Intec securities will be on issue (assuming none of the existing options are exercised beforehand):

• 671,519,848 Shares on issue – quoted on ASX

• 111,919,975 New Options exercisable at $0.08 up to 31 Dec 09 – quoted on ASX

• 45,000,000 Options exercisable at $0.08 up to 30 Jun 08 – not quoted on ASX

• 3,177,916 Options exercisable at $0.10 up to 26 Nov 08 – not quoted on ASX

• 1,275,000 Options exercisable at $0.49625 up to 30 Jun 09 – not quoted on ASX

• 5,869,014 Options exercisable at $0.069 up to 24 Feb 10 – not quoted on ASX

• 7,210,000 Options exercisable at $0.11 up to 30 Aug 11 – not quoted on ASX

• 11,050,000 Options exercisable at $0.15 up to 25 Sep 12 – not quoted on ASX

Shareholders will receive their copy of the Prospectus soon and application for Rights can only be made on the personalised Entitlement and Acceptance Form and Additional Share Application Form accompanying the Prospectus. Applications by Existing Shareholders for additional Rights from any Shortfall over and above their respective Entitlements will be regarded favourably by the Underwriter (in consultation with the Directors), but any allocation of the Shortfall will be at the Underwriter’s absolute discretion.

The following is the indicative timetable for the Rights Issue:

The following is the indicative timetable for the Rights Issue:
Lodgement oftheProspectus with ASIC	28May2008
Notice to Shareholders	30May2008
Rights trading commences on ASX(shares quoted exentitlement)	2June2008
Record Date to identify Shareholders entitled to participate in the Rights Issue	6 June 2008
Dispatch of the Prospectus, the Entitlement and Acceptance Form and theAdditionalShareApplication Form	10 June 2008
Last day of Rights trading on ASX	17 June2008
ClosingDatefortheRightsIssue (5.00pm AEST)	24June2008
Allotment ofNew Shares and New Options	27 June2008
Dispatchof holding statements	1July2008
Trading ofNew Shares and New Options expected to commence on ASX	2July2008

The Company, in conjunction with the Underwriter, reserves the right to vary the above dates subject to the Corporations Act and ASX Listing Rules.

Please note this Offer closes at 5:00pm AEST on 24 June 2008 . For further information, please contact the Company.

It is now over two years since Intec previously approached the equity market, during which period we have made great strides that are barely reflected in our current share price. However we expect that Intec’s progress during future years will receive deserved market recognition and therefore that the pricing of this Rights Issue represents an attractive investment opportunity in the short, medium and long term . All of the Intec Directors will therefore be fully subscribing for their Rights and, subject to your individual financial situation, we commend you to do likewise.

Yours faithfully,

Intec Ltd

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Philip R Wood Managing Director & Chief Executive Officer

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