AUSQUEST LIMITED — Capital/Financing Update 2007

Dec 11, 2007

11 December 2007

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ABN 35 091 542 451

The Manager Company Announcements Office ASX Limited Level 4, Exchange Centre 20 Bridge Street SYDNEY NSW 2000

6 Kearns Crescent, Ardross WA 6153 Telephone: 08 9364 3866 Facsimile: 08 9364 4892 Email: graeme@ausquest.com.au Web: www.ausquest.com.au

Dear Sir/Madam

AUSQUEST LIMITED Notice under Section 708A

AusQuest Limited (Company) has issued 7,535,714 shares and 3,767,857 options pursuant to an offer made to sophisticated investors and professional investors (as described in Section 708 of the Corporations Act) on 10 December 2007. The securities are part of a class of securities quoted on ASX Limited (ASX).

The Company gives this notice pursuant to Section 708A(5)(e) of the Corporations Act.

The shares were issued without disclosure to investors under Part 6D.2, in reliance on Sections 708(8) and 708(11) of the Corporations Act.

The Company, as at the date of this notice, has complied with:

• (a) the provisions of Chapter 2M of the Corporations Act; and

• (b) Section 674 of the Corporations Act.

There is no excluded information for the purposes of Sections 708A(7) and (8) of the Corporations Act.

Yours faithfully

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Graeme Drew Managing Director AUSQUEST LIMITED

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