SCIDEV LTD — Capital/Financing Update 2012

Feb 6, 2012

ABN 25 001 150 849

Superior and Sustainable Metals Production

Level 3 2 Elizabeth Plaza North Sydney NSW 2060 Australia PO Box 1507 North Sydney NSW 2059 Australia

Phone: 02-9954 7888 Fax: 02-8904 0334 Email: mail@intec.com.au Website: www.intec.com.au ASX code: INL

7 February 2012

Companies Announcements Office Australian Securities Exchange

Share Placement and new Managing Director

Intec Ltd (ASX Code: INL) ("Intec" or the "Company") has received commitments to raise A\$1.25 million through a share placement of 83.333 million fully paid ordinary shares in the capital of the Company at 1.5 cents per share ("Placement"). The Placement will be made to a small number of investors, including clients of stockbroker Taylor Collison Limited.

Of the total Placement amount, 32.473 million shares (\$487,092) will be allotted immediately under the Company's available 15% placement capacity pursuant to ASX Listing Rule 7.1. Shareholder approval will be sought for the remaining 50.861 million Placement shares (\$762,908), including a separate approval for the participation in the Placement in the amount of \$220,000 by Mr Kieran Rodgers, a director of the Company. The required approvals will be sought at an Extraordinary General Meeting of Shareholders proposed to be held in the second half of March 2012.

The purpose of the Placement is to provide working capital for the Company in relation to:

• the on-going zinc blending project in Victoria until the expected return of environmental bonds (in respect of electric arc furnace dust) later this year;
• a delay in the expected receipt of a final environmental bond (in respect of electric arc furnace dust) from $\bullet$ the Tasmanian EPA;
• the payment of a contractual employee entitlement; and $\bullet$
• the on-going activities and contingencies of the Company.

Concurrently with the Placement, Mr Kieran Rodgers, previously the Finance Director & Chief Financial Officer, replaces Mr Philip Wood as Managing Director of the Company. Under the terms of his Executive Employment Agreement dated 1 July 2010, Mr Wood has therefore resigned as a director of the Company and all applicable subsidiaries on 6 February, 2012.

The Board expresses its sincere appreciation of Mr Wood's longstanding service to the Company, including as its Managing Director & Chief Executive Officer since 2001.

Yours faithfully, Intec Ltd

Ilician Jenego-

Kieran G Rodgers Managing Director

For further information on the Company view our website at www.intec.com.au or contact:

Kieran Rodgers Managing Director Tel: 02 9954 7888