|   | 1. | I have reviewed this annual report on Form 20-Fof Mission NewEnergy Limited; |
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|   | 2. | Based on my knowledge, this report does notcontain any untrue statement of a material fact or omit to state amaterial fact necessary to make the statements made, in light ofthe circumstances under which such statements were made, notmisleading with respect to the period covered by thisreport; |
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|   | 3. | Based on my knowledge, the financial statements,and other financial information included in this report, fairlypresent in all material respects the financial condition, resultsof operations and cash flows of the company as of, and for, theperiods presented in this report; |
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|   | 4. | The company’s other certifying officer(s)and I are responsible for establishing and maintaining disclosurecontrols and procedures (as defined in Exchange Act Rules 13a-15(e)and 15d-15(e)) for the company and have: |
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|   | a. | Designed such disclosure controls andprocedures, or caused such disclosure controls and procedures to bedesigned under our supervision, to ensure that material informationrelating to the company, including its consolidated subsidiaries,is made known to us by others within those entities, particularlyduring the period in which this report is beingprepared; |
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|   | b. | Designed such internal control over financialreporting, or caused such internal control over financial reportingto be designed under our supervision, to provide reasonableassurance regarding the reliability of financial reporting and thepreparation of financial statements for external purposes inaccordance with generally accepted accountingprinciples; |
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|   | c. | Evaluated the effectiveness of thecompany’s disclosure controls and procedures and presented inthis report our conclusions about the effectiveness of thedisclosure controls and procedures, as of the end of the periodcovered by this report based on such evaluation; and |
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|   | c. | Disclosed in this report any change in thecompany’s internal control over financial reporting thatoccurred during the period covered by the annual report that hasmaterially affected, or is reasonably likely to materially affect,the company’s internal control over financial reporting;and |
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|   | 5. | The company’s other certifying officer(s)and I have disclosed, based on our most recent evaluation ofinternal control over financial reporting, to the company’sauditors and the audit committee of the company’s board ofdirectors (or persons performing the equivalentfunctions): |
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|   | a. | All significant deficiencies and materialweaknesses in the design or operation of internal control overfinancial reporting which are reasonably likely to adversely affectthe company’s ability to record, process, summarize andreport financial information; and |
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|   | b. | Any fraud, whether or not material, thatinvolves management or other employees who have a significant rolein the company’s internal control over financialreporting. |
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| /s/ GuyBurnett         |   |
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| Guy Burnett            |   |
| Chief FinancialOfficer |   |