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FIRSTWAVE CLOUD TECHNOLOGY LIMITED Capital/Financing Update 2011

May 5, 2011

64905_rns_2011-05-05_15f676f9-8b51-419f-9d5c-40e38b2bdc46.pdf

Capital/Financing Update

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5 May 2011

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ISSUE OF TAYLOR COLLISON OPTIONS

The Company confirms that it has issued the following options to Taylor Collison Limited’s nominee, TAYCOL Nominees Pty ltd:

No. of Exercise Expiry
Options Price Date
1,200,000 $0.30 30 April 2014

Yours Sincerely

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Anne Adaley Company Secretary