TALIUS GROUP LIMITED — Capital/Financing Update 2008

Jun 22, 2008

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ASX Announcement 23 June 2008

– Fully Underwritten Non Renounceable Rights Issue

Advance Energy Limited (“Advance”) is pleased to announce that it has amended its previously announced non-renounceable rights issue of shares. The issue is now on the basis of five (5) new shares for each seven (7) existing shares held at an issue price of 8 cents per share.

Proceeds of the issue will be utilised for debt repayment and working capital. The rights issue will raise $3,959,000 and is fully underwritten by Anndev Pty Ltd (“Anndev”). The Directors have committed to taking up their full entitlements.

Anndev and its associated companies have been strong supporters of Advance and are major shareholders. Anndev has also provided Advance with a $2,000,000 loan facility which, if utilised, will be settled upon completion of the rights issue.

Further details of the timing of the issue will be provided in the prospectus which will be lodged with ASIC before the end of June.

For further information contact:

Mr Alex Bajada Chairman Telephone: 08 9486 1122 Facsimile: 08 9486 1011

Advance Energy Limited is focused on the acquisition and development of oil and gas producing assets in Texas USA. The company aims to acquire assets with a combination of debt and equity that have current production and cash flow and to enhance production and cash flow through the further development of these assets. Once a property has reached its full productive potential and/or has achieved economic payout to Advance Energy, the Company would look to on sell all or part of its interest. It is the aim of the Company to develop a portfolio of assets which will be developed and traded to maximize returns on funds invested.

Advance Energy Limited ASX Code: AVD Website: www.advanceenergyltd.com.au

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