THORNEY TECHNOLOGIES LTD — Capital/Financing Update 2008

Jun 15, 2008

Friday 13 June 2008

ASX Release

Company Announcements Office Australian Stock Exchange Limited 10[th] Floor, 20 Bond Street SYDNEY NSW 2000

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Dear Sir/Madam,

Completion of Rights Issue

Australian Renewable Fuels Limited (“ARF or “Company” - ASX Code : ARW) is pleased to advise that the fully underwritten pro-rata renounceable Rights Issue made by ARF pursuant to a prospectus dated 5 May 2008 has been completed. Under the Rights Issue, the Company offered 123,013,519 shares at a price of 2.5 cents each to qualifying existing shareholders on the basis of 5 new shares for every 7 shares held on the record date of 15 May 2008. ARF received applications for 70,124,448 shares, representing 57% acceptance. The Company advised the Underwriters of the 52,889,071 share shortfall and has received shortfall proceeds in accordance with the underwriting agreement, a summary of which is contained in the Prospectus. All existing shareholders who applied for shortfall shares were granted 33.28% of their shortfall request.

The successful completion of this Rights Issue will allow ARF to continue with the development of the Company as outlined in the Prospectus.

For further information, please contact:

Australian Renewable Fuels Limited Tania Oosterhof Company Secretary T: 08 9227 7688 E: info@arfuels.com.au

ENDS