THORNEY TECHNOLOGIES LTD — Capital/Financing Update 2005

May 4, 2005

MARKET RELEASE

5 May 2005

Australian Renewable Fuels Limited

PRE-QUOTATION DISCLOSURE

Australian Renewable Fuels Limited was admitted to the Official List of Australian Stock Exchange Limited on Thursday, 5 May 2005.

Official Quotation of the following securities will commence at 1.00 pm E.S.T. (11.00 am W.S.T.) on Tuesday, 10 May 2005.

The following information is released as pre-quotation disclosure.

• $\mathbf{1}$ . Distribution schedule - Appendix 1A, paragraph 48.
• $2.$ Top 20 holders.
• $3₁$ An updated statement of commitments.
• Confirmation of completion of the Share Sale Agreement. 4.
• Corporate governance statement. $5.$
• The full terms and conditions of the employee share option plan 6.
• $7.$ The full terms and conditions of the options on issue.
• 1. Number and escrow period of restricted securities.

Security Code: ARW

Chif Chec Dise

Nicholas Ong Companies Adviser