AUSQUEST LIMITED — Capital/Financing Update 2008

Jan 24, 2008

25 January 2008

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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

FOR IMMEDIATE RELEASE TO THE MARKET

AUSQUEST LIMITED Notice under Section 708A

AusQuest Limited (Company) issued 2,339,286 shares and 1,169,643 options to the Directors of the Company on 25 January 2008 pursuant to shareholder approval received at a General Meeting held 17 January 2008. 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 and options were issued without disclosure to investors pursuant to an exemption in Part 6D.2 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