SCIDEV LTD — Share Issue/Capital Change 2006

Nov 30, 2006

Intec Ltd.

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

1 December 2006

Companies Announcements Office Australian Stock Exchange Limited

Exercise of Options under IOP and issue of shares

Under the Intec Option Plan (IOP), options have been issued to directors, staff and key consultants at various exercise prices. The Company has been given notice of the exercise of 1,341,743 options as follows:

• $\bullet$ 882,275 shares at an issue price of \$0.069 per share
• 309,468 shares at an issue price of \$0.10 per share $\bullet$
• $\bullet$ 150,000 shares at an issue price of \$0.11 per share

Under the IOP, when exercised, each option is converted into one ordinary share. The Company therefore advises the issue of 1,341,743 new shares in INL.

Attached is a completed Appendix 3B in respect of the issue of shares under the IOP.

Notice Under Section 708A(5)(e)

INL advises that on 1 December 2006 it resolved to issue 882,275 fully paid ordinary shares at an issue price of \$0.069 per share, 309,468 shares at an issue price of \$0.10 per share and 150,000 shares at an issue price of \$0.11 per share (New Shares).

INL gives notice that:

• $(1)$ this notice is being given under Section $708A(5)(e)$ of the Corporations Act 2001 (Corporations Act):
• INL issued the New Shares without disclosure to investors under Part 6D.2 of the Corporations Act; $(2)$
• $(3)$ as at the date of this notice, INL has complied with:
• the provisions of Chapter 2M of the Corporations Act as they apply to INE; and $(a)$
• $(b)$ section 674 of the Corporations Act; and
• $4)$ except as may be set out in this notice, there is no other information that is excluded information as at the date of this notice which is required to be set out in this notice under Section $708A(6)(e)$ of the Corporations Act.

Yours faithfully Intec Ltd

Robert J Waring Company Secretary

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to $ASX$ as soon as available. Information and documents given to $ASX$ become ASX's property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003.

Name of entity

Intec Ltd

ABN

$\overline{3}$

25 001 150 849

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

$\mathbf{1}$ be issued

⁺Class of ⁺securities issued or to | 1,341,743 fully paid ordinary shares

$\overline{2}$ Number of ⁺securities issued or to be issued (if known) or maximum number which may be issued

Principal terms of the *securities

(eg, if options, exercise price and

expiry date; if partly paid

*securities, the amount outstanding and due dates for payment; if

conversion price and dates for

securities.

the

*convertible

conversion)

1,341,743 fully paid ordinary shares

The shares are allotted to five optionholders under the Intee Option Plan from options exercised at \$0.069, \$0.10 and \$0.11.

4	Do the securities rank equally in all respects from the date of allotment with an existing class of quoted *securities?	The securities rank equally with INL fully paid ordinary shares.
	If the additional securities do not rank equally, please state: the date from which they do the extent to which they ۰ participate for the next dividend, (in the case of a trust, distribution) interest or payment the extent to which they do not ۰ rank equally, other than in relation to the next dividend, distribution or interest payment
5	Issue price or consideration	882,275 shares at an issue price of \$0.069 per share 309,468 shares at an issue price of \$0.10 per share 150,000 shares at an issue price of \$0.11 per share
6	Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)	The shares are allotted to five optionholders under the Intec Option Plan from options exercised at \$0.069, \$0.10 and \$0.11.
7	Dates of entering *securities into uncertificated holdings or despatch of certificates	28 November 2006
		Number	*Class
8	Number class оĔ all and securities quoted ASX. on (including the securities in clause 2 if applicable)	556,787,206	Fully paid Ordinary Shares
		Number	* Class
9	οf Number class and all securities not quoted on ASX (including the securities in clause 2 if applicable)	6,645,097 3,879,728	16 July 2007 Options - exercise price \$0.24625 26 November 2008 Options – exercise price \$0.10
		25,000,000	30 June 2008 Options – exercise price \$0.08
		1,275,000	30 June 2009 Options – exercise price \$0.49625
		7,389,869	24 February 2010 Options – exercise price \$0.069
		4,900,000	31 August 2011 Options – exercise price \$0.11

10	Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)	Rank equally with existing fully paid Ordinary Shares in regard to future dividends
Part 2 - Bonus issue or pro rata issue
11 ίO 33	holder security approval ls required?	Questions 11 to 33 are not applicable.
Part 3 - Quotation of securities You need only complete this section if you are applying for quotation of securities
34	Type of securities (tick one)
(a)	Securities described in Part 1
(b)	All other securities Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities
	Entities that have ticked box 34(a)
	Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

35 If the "securities are "equity securities, the names of the 20 largest holders of the additional "securities, and the number and percentage of additional *securities held by those holders If the "securities are "equity securities, a distribution schedule of the additional "securities setting out 36 the number of holders in the categories $1 - 1,000$ $1,001 - 5,000$ $5,001 - 10,000$ $10,001 - 100,000$ 100,001 and over 37 A copy of any trust deed for the additional *securities

Entities that have ticked box 34(b)

-38		Number of securities for which $\sqrt{\frac{1}{2}}$ Questions 38 to 42 are not applicable
to	+ quotation is sought
-42

Appendix 3B Page 4

Quotation agreement

• $\mathbf{I}$ +Ouotation of our additional +securities is in ASX's absolute discretion. ASX may quote the +securities on any conditions it decides.
• We warrant the following to ASX. $\overline{2}$
• The issue of the "securities to be quoted complies with the law and is not for an illegal purpose.
• There is no reason why those *securities should not be granted *quotation.
• An offer of the "securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section $1012C(6)$ of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any *securities to be quoted and that no-one has any right to return any *securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the *securities be quoted.
• We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the "securities to be quoted, it has been provided at the time that we request that the "securities be quoted.
• If we are a trust, we warrant that no person has the right to return the "securities to be quoted under section 1019B of the Corporations Act at the time that we request that the ⁺securities be quoted
• $\overline{3}$ We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
• $\overline{4}$ We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before "quotation of the "securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign here:	R Waring	Date:	1 December 2006
	(Secretary)
Print name:	Robert J Waring

Appen3b.inl.stp