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ENECO REFRESH LTD Capital/Financing Update 2008

Nov 11, 2008

64874_rns_2008-11-11_1c32bd86-6994-45b2-a600-6c0fd779490e.pdf

Capital/Financing Update

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Refresh Group Limited ( ACN 079 681 244) 17 Denninup Way, Malaga WA 6090 Tel: (08) 9248 3006 Fax: (08) 9248 7233 Email: [email protected] Website: www.refreshgroup.com.au

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ASX Announcement (ASX: RGP)

Capitalisation of Loan to Refresh Waters

Prior to its listing, Refresh Group Limited (“Refresh”) was restructured into an investment holding company. It incorporated a wholly-owned subsidiary, Refresh Waters Pty Ltd (“Refresh Waters”) to run its bottled water business. This operated with a loan from Refresh which stood at $5.4 million as at 30 October 2008.

The Board of Refresh decided to convert some of the loan to capital. In accordance with that decision, Refresh Waters issued 4,999,998 $1 shares to Refresh on 30 October 2008. Refresh Waters remains a wholly owned subsidiary of Refresh.

For more information, please contact:

Henry Heng Executive Chairman [email protected]

11 Nov 2008

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Refresh Waters Pty Ltd (ACN 115 000 318) Perth - 17 Denninup Way, Malaga WA 6090 T. (08) 92487222 F. (08) 92487233 E. [email protected] Kalgoorlie - 33/46 Great Eastern Hy, Kalgoorlie WA 6430 T. (08) 90222266 F. (08) 90224468 E. [email protected] Melbourne - 14 Bando Road, Springvale Vic 3171 T. (03) 95623877 F. (03) 95623177 E. [email protected] Sydney - 3 Salisbury Street, Silverwater NSW 2128 T. (02) 97484200 F. (02) 97484366 E. [email protected] Refresh Waters Queensland Pty Ltd (ACN 095 451 406) Brisbane – 120 Mica Street, Carole Park, Qld 4300 T. (07) 32711251 F. (07) 38793019 E. [email protected] Toowoomba - 600 Boundary Street, Toowoomba Qld 4350 T. (07) 46590400 F. (07) 46590411 E. [email protected]