THORNEY TECHNOLOGIES LTD — Capital/Financing Update 2005

Jun 13, 2005

As anticipated in the recently announced Investor Update (ASX announcement 30/5/05), the directors of Australian Renewable Fuels Limited are pleased to announce that the Company has now obtained both Development Approval and Building Approval for the construction of it's biodiesel manufacturing facility at Largs Bay (Port Adelaide), South Australia.

Construction work has now commenced on the site and the Energea component is scheduled for delivery in Ouarter 3, 2005.

Commissioning of the Largs Bay plant is due in Quarter 4, 2005.

With regard to the Picton plant, Development Approval has already been obtained and design engineering is currently well underway with commissioning of this site scheduled for Quarter 1, 2006.

This progress at the Port Adelaide site represents a significant milestone in the fulfilment of the Company's objective to become Australia's pre-eminent biodiesel producer.