Change of Adviser and Trading Statement

RNS Number : 9623K
Applied Intellectual Capital Ltd
31 December 2008

APPLIED INTELLECTUAL CAPITAL
Trading and Market Update

31 December 2008

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 trading and market update

CHANGE OF ADVISER
Further to the Company's announcement on 19 December 2008, the Directors of AIC announce that Ambrian Partners Limited ("Ambrian") has
been appointed as the Company's nominated adviser for a limited period until 3 March 2009. The Company will have to meet the necessary
working capital criteria at that time, if it wishes to re-appoint Ambrian after that date.

TRADING UPDATE
AIC provides the following updates to its business activities:
* In its announcement on 19 December 2008, AIC incorrectly stated that EverClear Solutions Inc. ("EverClear") was a "subsidiary" of AIC.
EverClear is properly classified as an "associated company" of AIC by virtue of AIC's agreement to limit its voting of EverClear shares
such that AIC's vote is less than 50% of EverClear's total.

EverClear management has also clarified to AIC that it believes that EverClear's capital reserves are sufficient to support operations
until such time that a previously announced Private Placement is accomplished. EverClear recently broadened its corporate finance team with
the addition of Toronto based Max Capital Markets, Ltd., to previously engaged Nomura International, Ltd in order to gain broader North
American reach. With the continued investment in its precious metals technology and project acquisition programs, EverClear management and
its corporate finance advisors believe that it is an attractive candidate for private investment.

* RedOx, AIC's (100%) bio-fuels subsidiary, has discontinued its biofuels collaboration with Mitsubishi. However, RedOx continues to
draw interest in its advanced fuels technology from other potential development partners.

* While negotiations with ITI Scotland (referred to in earlier trading updates) are ongoing, AIC had hoped to have reached a final
agreement with ITI Scotland by the end of this calendar year. AIC's continued viability as a company is still entirely dependent on its
being able to reach a satisfactory conclusion to these negotiations.

* Further to the Company's announcement on 19 December 2008, AIC is continuing negotiations with a Chinese group with a view to
establishing the first commercial production facility for AIC's BLAB transport batteries. Separately, AIC has received expressions of
interest in its advanced battery technology from other parties as well.
* AIC continues to hold discussions with potential development partners for a number of its other
technologies, for example, metal-air batteries, solar PV, and advanced bio-fuels. Efforts to secure
funding for these activities continue.

ENQUIRIES:
Applied Intellectual Capital Limited : Robert Stoffregen Tel. +1 510 239 0025
Perlgut Group : Mark Perlgut Tel. +1 212 799 0026
Mirabaud Securities : Peter Krens Tel. +44 (0)207 878 3362
Ambrian Partners Limited : Marc Cramsie Tel. +44 (0)207 634 4858

This information is provided by RNS
The company news service from the London Stock Exchange

END

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