SCIDEV LTD — Capital/Financing Update 2009

Oct 28, 2009

ABN 25 001 150 849

Level 3 2 Elizabeth Plaza North Sydney NSW 2060 Australia PO Box 1507 North Sydney NSW 2059 Australia ASX code: INL

Phone: 02-9925-8170 Fax: 02-9925-8110 Email: mail@intec.com.au Website: www.intec.com.au ASX code: INL

Companies Announcements Office Australian Securities Exchange

29 October 2009

MOU Signed with Guangdong GuangYe Assets Management

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Representatives of GuangYe and Intec at the MOU signing ceremony: (on the left, representing GuangYe) Mr Wang Qi, Deputy General Manager (YunFu Pyrite Enterprise Group Corporation); Mr Su Jiaping, Director of the Enterprise Management Department; Mr Wang Ximin, Deputy General Manager; (on the right, representing Intec) Mr Philip Wood, Managing Director & CEO; Mr Dave Sammut, Corporate Development Manager; Dr Andrew Tong, Project Manager & Senior Research Metallurgist; Mr Joe Lam, Intec’s Chinese Representative & General Manager, Guangzhou Greeneer Chemical Technology Co., Ltd; Mr Kieran Rodgers, Finance Director & CFO.

Intec Ltd (ASX code: INL) is pleased to announce that it has signed a Memorandum Of Understanding (MOU) with Guangdong GuangYe Assets Management Co., Ltd. (GuangYe) for the formation of an incorporated joint venture to identify and develop secondary resources project opportunities in Australia and China, using the Intec Process and taking into account Intec’s current activities in those countries.

GuangYe was established in 2000 to manage the assets of the Guangdong Provincial Government. With registered capital of 1.3 billion RMB (approximately US$190 million), it operates in 12 industryspecific divisions, through more than 150 subsidiaries or affiliated companies, and employs over 18,000 people. GuangYe has a mandate to seek investments into Australian ‘enabling technologies’ and ‘secondary resources’ projects.

On 27 October 2009, the People's Government of Guangdong Province, together with The Government of the Hong Kong Special Administrative Region, hosted the significant ‘Hong Kong – Guangdong Business Conference in Sydney 2009’. This celebrated thirty years of sister state relationship between New South Wales and Guangdong, and was organised to encourage business networking for cross investment between these political regions.

The MOU signed yesterday between Intec and GuangYe envisages that both parties will work towards establishing a joint venture company to:

• Provide advisory investment services to GuangYe for the purposes of identifying and assessing economically robust mining, minerals processing, and industrial residues/wastes processing opportunities in Australia and China.

• Continue to research and develop the Intec technology platform for minerals processing and industrial residues/wastes treatment.

• Identify secondary resource opportunities in Australia and China that are suitable for development using the Intec technology.

• Acquire strategic equity positions in selected corporate and/or project opportunities, particularly where GuangYe funds will bring about rapid project development and/or alleviate funding costs from alternative sources.

Yesterday’s signing of the MOU with GuangYe is substantially the result of ongoing efforts by Intec’s Chinese representative, Joe Lam, to identify and pursue project opportunities for the Intec Process in China, and for the establishment of corporate opportunities through links with Chinese participants. The MOU with GuangYe represents another success from these efforts, with separate discussions also now well-advanced for the previously-announced project opportunities using the Intec Process elsewhere in southern China.

Yours faithfully

Intec Ltd

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Philip R Wood Managing Director and Chief Executive Officer

About Intec Ltd

Intec Ltd is an Australian company which owns the Intec Process for superior and sustainable metals production. The Intec Process comprises a set of patented chloride-based hydrometallurgical processes that have been demonstrated to produce high purity base and precious metals from concentrates of sulphide and oxide ores, tailings and industrial wastes. The Intec Process has substantial environmental and cost advantages over both the widely used conventional smelting and refining processes and other known hydrometallurgical processes.

It is also expected that Intec’s intellectual property derived from its waste metals recovery technology will have broad application for mine tailings water, industrial waste water and waste sludge treatment, both nationally and internationally.