CONICO LTD — Capital/Financing Update 2007

Sep 4, 2007

ACN 119 057 457

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AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

5 September 2007

- - PRO RATA NON RENOUNCEABLE OPTIONS ISSUE

The Company announces that in relation to the pro-rata non-renounceable options issue made under a prospectus lodged at ASIC on 30 July 2007 that acceptances were received for a total of 23,497,589 options raising a total of $234,975.89. This left a shortfall of 5,002,411 which has been fully underwitten and will be taken up by the underwriter. The total number of options to be issued will be 28,500,000 raising a total of $285,000.00.

The holding statements will be dispatched on 6 September 2007.

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Gregory H. Solomon Executive Chairman

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Level 40, Exchange Plaza 2 The Esplanade, Perth, Western Australia 6000 Telephone: (08) 9282 5889 Facsimile: (08) 9282 5866 Website: www.fissionenergy.com.au