Applied Intellectual Capital Limited Announces Trading Update

Applied Intellectual Capital Limited (“AIC”) (AIM: AINC) funds, develops, patents and commercializes electrochemical and advanced separations technologies in clean energy, electricity storage, water treatment, metals recovery and other emerging markets. AIC today provides the following update on progress made with its electric vehicle battery (BLAB), large scale flow battery (Plurion), bio-fuels (RedOx) and mining & metals recovery (EverClear) technologies.

1. LARGE SCALE FLOW BATTERIES (PLURION)

AIC announces that it is has engaged Mirabaud Securities Limited to lead a private equity raise for Plurion Limited. Plurion is seeking investment to put its two year business plan into action. Plurion is also pursuing public finance sources. This new investment will build on the progress already achieved and is intended to carry the project forward to a fully scalable 22.5 kilowatt module, which is the basis of its commercial product offering. Once this milestone is achieved, Plurion would be positioned to become a major and potentially a key player in the global electricity storage industry. AIC is a majority owner of Plurion.

2. MINING & METALS RECOVERY (EVERCLEAR)

EverClear Solutions, Inc. (“EverClear”) has retained Nomura International plc to assist with a private placement fundraising and to provide certain other advisory services. The fundraising will enable EverClear to progress its business plan which includes: further field trials in support of the development of a bankable feasibility study for the Tsumeb Tailings Dam in Namibia jointly with Weatherly International; assessment of a growing number of potential sites in the Americas and Africa; and engineering of project-specific hardware and applications. In June, EverClear completed a successful field demonstration at the Mintek Test Facility in Johannesburg, South Africa recovering LME grade copper from tailings from the Tsumeb site. AIC owns a significant minority interest in EverClear.

3. ELECTRIC VEHICLE BATTERY (BLAB)

AIC has successfully completed laboratory testing of a thin film bi-polar lead acid battery (BLAB) in a configuration suitable for electric bicycles and scooters. Discussions have progressed with a potential Chinese business partner concerning their interest in commercialization of what may be the first of several electric vehicle batteries. The combined efforts of AIC and this potential partner are focused on exploiting a $3 billion market for such batteries in China.

4. BIOFUELS (REDOX)

Lab testing of AIC’s metal mediated redox and hydrolysis solutions is continuing and RedOx is progressing towards the yield levels that will be needed to make the technology a commercial success. The primary focus is on the conversion of waste biomass to ethanol in collaboration with Mitsubishi Corp, and waste biomass to PHA (organic plastic) with University College Dublin. Lab testing of the conversion of biomass to commercially attractive advanced biofuels has also commenced.

NOTES FOR EDITORS

About AIC

AIC is an AIM listed company that funds, develops, patents and commercialises electrochemical and advanced separations technologies in clean energy, electricity storage, water treatment, metals recovery and other emerging markets. AIC listed on AIM in January 2007 and currently has a market capitalisation of approximately £47 million.

About Plurion

Plurion was established to develop and subsequently commercialise a novel and potentially highly cost-effective technology for high capacity electricity storage. Plurion was attracted to Scotland, to develop its innovative and revolutionary large-scale battery system by ITI Scotland's programme for attracting new technologies to the Country.

Plurion owns the exclusive rights to a type of Flow battery (or redox battery) developed by AIC. AIC provided initial funding to develop Plurion's technology. The Directors believe that Plurion technology is very suitable for fulfilling market needs for high capacity electricity storage.

About Mirabaud

Mirabaud is an agency broker focussed mainly on the Energy and New Energy sector.

About Nomura

Nomura is a leading financial services group and the preeminent Asian-based investment bank with worldwide reach. Nomura provides a broad range of innovative solutions tailored to the specific requirements of individual, institutional, corporate and government clients through an international network in 30 countries. Based in Tokyo and with regional headquarters in Hong Kong, London, and New York, Nomura employs about 18,000 staff worldwide. Nomura's unique understanding of Asia enables the company to make a difference for clients through five business divisions: domestic retail, global markets, global investment banking, global merchant banking, and asset management. For further information about Nomura, please visit www.nomura.com.

About EverClear

EverClear (www.everclear-inc.com) provides technology-enabled solutions to the mining industry. EverClear specializes in secondary and tertiary metal recovery efforts -- leveraging an expertise in leach chemistry and high-performance electrochemical processes and technologies to cost-effectively generate high-grade, market-ready metals.