CAQ HOLDINGS LIMITED — Capital/Financing Update 2012

Mar 7, 2012

==> picture [150 x 90] intentionally omitted <==

==> picture [101 x 67] intentionally omitted <==

ASX Release - CAQ

SUSPENSION UPDATE

8 March 2012: The securities of Cell Aquaculture Limited (ACN 091 687 740) (“ CAQ ” or “ the Company ”) have been placed in voluntary suspension pending the release of an announcement of a capital raising.

By way of a second update, the Board of CAQ received a funding offer from an interested Singaporean based investor on 17 January 2012 and as reported previously the Company is currently working through this offer.

Of the ten due diligence queries raised by the investor, the majority have now been addressed satisfactorily.

The Company anticipates a final acceptance of the offer within the next several weeks and will make a final announcement once the funds have been received.

The Company is not aware of any reason why the current voluntary suspension should not be continued.

Enquiries:

Perry Leach Chairman Cell Aquaculture Limited

Ph: +61 417 023 999 E-mail: celltech@iinet.net.au www.cellaqua.com

About Cell Aquaculture Ltd (Australia)

Headquartered in Western Australia, Cell Aquaculture Limited is an international aquaculture company, publicly listed on the Australian Securities Exchange (ASX). Cell Aquaculture supplies a full range of environmentally sustainable, vertically integrated seafood production services – encompassing everything from ‘Hatch to Dispatch’.

Developed over twelve years the Cell™ proprietary system is a complete land based environmentally responsible aquaculture system developed for the production and supply of premium quality fin-fish.

Cell Aquaculture has established hatchery operations for Australian Barramundi at James Cook University, Queensland, and has also commenced production trials on a range of further ‘high value’ premium species for commercial production.

Cell Aquaculture has a number of large scale land-based recirculating seafood production projects, at varying stages of development, in Malaysia, Thailand and South Africa.

Cell Aquaculture supplies and installs growing systems, manages the operations, as well as processing, value-adding, branding and sales of finished product under the Company’s Eco-Star™ brand.

For further information, visit www.cellaqua.com