CONICO LTD — Capital/Financing Update 2007

Jul 29, 2007

ACN 119 057 457

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AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

30 JULY 2007

- - PRO RATA NON RENOUNCEABLE OPTIONS ISSUE

The Company today lodged at ASIC a prospectus to make an offer to all Fission shareholders as at 5:00pm WST on 8 August 2007 (the record date) of one option for every two shares held as at the record date at 1 cent per option (each option to acquire one share at an exercise price of 20 cents per share at any time up to and including 28 February 2011).

The timetable for the offer is as follows:-

EVENT	DATE
Prospectus lodged with ASIC	30 July 2007
Prospectus and Appendix 3B lodged with ASX	31 July 2001
Notice in relation to the Issue dispatched to Shareholders	1 August 2007
“Ex” date	2 August 2007
Record date for determining entitlements to Options	8 August 2007
Opening Date	13 August 2007
Dispatch of Prospectus	13 August 2007
Closing Date	31 August 2007
Securities quoted on a deferred settlement basis	3 September 2007
Company notifies ASX of under subscriptions	4 September 2007
Deferred settlement trading ends and dispatch date	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