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EDEN INNOVATIONS LTD Capital/Financing Update 2008

Jun 2, 2008

64820_rns_2008-06-02_c22ba263-0bf4-4df6-95bc-b72406efb360.pdf

Capital/Financing Update

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----- Start of picture text ----- ACN 109 200 900----- End of picture text -----

AUSTRALIAN SECURITIES EXCHANGE ANNOUNCEMENT

3 JUNE 2008

ISSUE OF ORDINARY FULLY PAID SHARES AND OPTIONS

The directors are pleased to advise that they have agreed to make placements up to the value of $3,926,400 by the issuing of up to 12,270,000 fully paid ordinary shares at an issue price of $0.32 per share to various institutions and sophisticated investors in accordance with sections 708(1) and 708(8) of the Corporations Act 2001 (“the Act”) and under the 15% placement rule of the Australian Securities Exchange Listing Rules.

A commission of 5% of the value of the funds raised and up to 1,227,000 options (expiring 30 June 2011, exercisable at $0.45) is payable to licensed stock brokers in respect of the placement.

The funds raised will be used for the purposes to meet the Company’s ongoing working capital requirements.

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