1. Ethanol Technologies Limited 13 November 2007 Annual General Meeting 2007

2. Update Jonathan Madgwick - Chairman 2 Government liaison/funding (Federal and State) Second generation ethanol production project Environmentally sensitive, resource and energy efficient Cost efficient Enables production from a wide range of feedstock’s - sugar and timber industry wastes are major examples - will not divert crops from food supply (note the American experience with maize)

3. 3 Ethtec Ltd ($5.3m cap) Board Jonathan Madgwick (Chair) – Director, WFL Russell Reeves – APACE Research Ltd Robert Carey – Public Practice Accountant Marcus Derham – CEO, WFL John Rutledge – Senior Executive, WFL Timber Industry Sugar Industry Willmott Forests Limited (ASX Code: WFL) Cane Farmers 51% 49% Expenditure to date…. $3.5m development $5.3m capital injection Ethtec Corporate Structure Jonathan Madgwick - Chairman

4. Stakeholders 4 Licence Agreements (USM/TVA/Apace) 4 Federal Gov’t Support Shareholders State Gov’t Support Ethtec Pilot Plant Management & Technical Teams Board Consultants Jonathan Madgwick - Chairman

5. Pilot plant site – Harwood, northern NSW Site Selection 5 Jonathan Madgwick - Chairman

6. Project Plan 6 Jonathan Madgwick - Chairman Project will occur in 4 phases (1 & 4 may be in parallel) Viability of the technology will be tested in a pilot plant Construction to commence in late 2007 Potentially permits licensing opportunities domestically and overseas of Australian (NSW) generated intellectual property

7. 4-Phase Process/Project 7 Acid HydrolysisAcid Recovery Ethanol RecoveryFermentation 7 Jonathan Madgwick - Chairman

8. Timing 8 OutcomesTiming 1Acid impregnation Hydrolysis of lignocellulosics Late 2008 2ALignin filtration Acid and sugar separation Mid 2009 2BSulfuric acid recoveryLate 2009 3FermentationEarly 2010 4Simultaneous ethanol recovery and liquid effluent treatment Late 2008 (with capital support), or Early 2010 Jonathan Madgwick - Chairman

9. Risks 9 Jonathan Madgwick - Chairman Profit Failure of Phase One Competition Liquidity Key Personnel and Management Operational Issues General

10. Technical Director - Dr Russell Reeves: Research scientist involved for the last thirty years in Australian and foreign government funded research projects on the development of new technologies for the production and use of ethanol as fuel Chief Engineer - Mr Ernest Lom: Mechanical research engineer with over fifty years experience, the last twenty five years relating to alternative fuels projects conducted in association with Dr Reeves Senior Project Engineer - Mr Daniel Negus: Mechanical research engineer with over ten years experience, including a three year project on use of ethanol fuel in vehicles conducted in association with Dr Reeves Analytical Chemist - Dr Tony Banks: Doctorate in organic chemistry from University of New England Consulting Engineers Mr Robert Tubman - process plant design, process optimisation and project management specialist with over thirty years local and international experience Mr Dennis Forte - extrusion processing, process modelling and process optimisation specialist with over twenty years experience Manager General Operations - Mr Lance Rodman: Cane farmer from Babinda with over twenty years practical engineering experience Technical Team Dr Russell Reeves – Managing Director 10

11. Technical Update 11 Dr Russell Reeves – Managing Director Pilot plant site – Harwood, northern NSW Harwood Sugar Mill selected as site for pilot plant

12. Technical Update 12 Dr Russell Reeves – Managing Director

13. Technical Update 13 Dr Russell Reeves – Managing Director Installation of required services to pilot plant site underway

14. Technical Update 14 Dr Russell Reeves – Managing Director Chemical analysis of representative feedstock's underway (with cooperation from NSW DPI) Installation of feedstock pre-treatment equipment and intermediate scale extruder underway Intermediate scale extruder will be used to confirm specification of pilot plant extruder Confidentiality agreements with two international extruder manufacturers Tests will be conducted with extruder manufacturer(s) to also confirm specification of pilot plant extruder

15. Technical Update 15 Dr Russell Reeves – Managing Director Clextral BC 72 H Co-rotating Twin Screw Extruder

16. “An integrated forest business with a focus on quality.” Marcus Derham – Director 16

17. ASX Listed (Code: WFL) Sound growth over 25 years Australia’s largest developer of new softwood plantations 35,000 ha established since 1980 - Bombala / Braidwood (WFL, Export Markets) - Murray Valley (Visy, Hyne & Son, Weyerhaeuser) - HVP 2R sites (CHH, Paperlinx, Hyne & Sons) Timber processing operations Long-term supply agreements State of the art management systems Actively engaged in regional communities Entered renewable fuel/energy market 17 Willmott Forests – Overview Marcus Derham – Director

18. 18 Quality Focus Independent Research Corporate Governance and Compliance AFG Disclosure Code ISO 9001 – Quality Endorsed Company Highly rated Woodlot project Premium timber products Marcus Derham – Director

19. NSW QLD NT SA TAS WA VIC 19 The Regions

20. WFL takes strategic stake in Ethanol Technologies COMPANY ANNOUNCEMENT 16 March 2007 Commercialising new technology for the production of ‘cellulosic ethanol’… - technology is expected to have world-wide application - enormous potential for the timber industry - solves the emerging ‘fuel vs food’ dilemma 20 Announcement Marcus Derham – Director

21. Marcus Derham, Willmott Forests CEO, said… “… whilst it is not without its risks, they are risks that we understand. When it is all said and done, this is an exciting project that has the potential to change the structure and pricing of pulp, chip and mill residue markets across the whole forest industry, and we are pleased to be involved.” 21 Announcement Marcus Derham – Director

22. 22 Jonathan Madgwick - Chairman Ethanol Technologies Limited 13 November 2007