MPR AUSTRALIA LIMITED — Capital/Financing Update 2007

Aug 30, 2007

==> picture [82 x 60] intentionally omitted <==

A S X A N N O U N C E M E N T

APPENDIX 3B – UNLISTED OPTIONS

Sydney – 31 August 2007 – Tag Pacific Limited (ASX: TAG, NZX: TPC) advises that 500,000 unlisted options have been issued under the Tag Pacific Limited Executive Share Option Plan. An Appendix 3B is attached.

Tag Pacific Limited also advises that the following unlisted options have lapsed in accordance with the rules of the Tag Pacific Limited Executive Share Option Plan:

CLASS / ASXCODE	EXERCISE PRICEPER OPTION	NUMBER OFOPTIONS
TAGAI	A$0.33	75,000
TAGAK	A$0.33	33,333

There are currently 2,416,667 unlisted options on issue in Tag Pacific Limited.

ENDS

For further information please contact:

Nathan Wise Company Secretary Tag Pacific Limited Tel: +61 2 8275 6000

Page 1 of 8

Appendix 3B New issue announcement

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

������������

������������������������� ���������������������������������������������������� ��������������

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005.

Name of entity

Tag Pacific Limited

ABN

73 009 485 625

We (the entity) give ASX the following information.

��������������������

You must complete the relevant sections (attach sheets if there is not enough space).

1	+Class of+securities issued or to be	Unlisted Options
	issued
2	Number of+securities issued or to	500,000
	be issued (if known) or maximum
	number which may be issued
3	Principal terms of the�securities (eg,	300,000 options are not vested and have an
	if options, exercise price and expirydate; if partly paid�securities, theamount outstanding and due datesforpayment;if�convertiblesecurities, the conversion price anddates for conversion)	exercise price of A$0.39 per option200,000 options are vested and have anexercise price of $0.45 per optionAll options issued have an expiry date of 31August 2012

• See chapter 19 for defined terms.

24/10/2005

Appendix 3B Page 2

Appendix 3B New issue announcement

• 4 Do the[�] securities rank equally in all N/A respects from the date of allotment with an existing[�] class of quoted �securities? If the additional securities do not rank equally, please state: • the date from which they do • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

• • the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

• 5 Issue price or consideration Nil 6 Purpose of the issue Options issued under the Tag Pacific Limited (If issued as consideration for the Executive Share Option Plan acquisition of assets, clearly identify those assets)

• 7 Dates of entering[�] securities into 31 August 2007 uncertificated holdings or despatch of certificates Number �Class

• 8 Number and �class of all 66,804,745 Ordinary shares �securities quoted on ASX ( including the securities in clause 2 if applicable)

• See chapter 19 for defined terms.

Appendix 3B Page 3

1/1/2003

Appendix 3B New issue announcement

				Number	�Class
9	Numberand�class	of	all	2,416,667	Unlisted options
	�securities not quoted on ASX
	(_including_the securities in clause 2
	if applicable)
10	Dividend policy (in the case		of a	N/A
	trust, distribution policy)	on the
	increased capital (interests)

����������������������������������������

11 Is security holder approval required? 12 Is the issue renounceable or nonrenounceable? 13 Ratio in which the[�] securities will be offered 14 �Class of �securities to which the offer relates 15 �Record date to determine entitlements 16 Will holdings on different registers (or subregisters) be aggregated for calculating entitlements? 17 Policy for deciding entitlements in relation to fractions 18 Names of countries in which the entity has[�] security holders who will not be sent new issue documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7. 19 Closing date for receipt of acceptances or renunciations

• See chapter 19 for defined terms.

Appendix 3B Page 4

1/1/2003

Appendix 3B New issue announcement

20Names of any underwriters21Amount of any underwriting fee orcommission22Names of any brokers to the issue23Fee or commission payable to thebroker to the issue24Amount of any handling fee payableto brokers who lodge acceptancesor renunciations on behalf of�security holders25If the issue is contingent on�security holders’ approval, the dateof the meeting26Date entitlement and acceptanceform and prospectus or ProductDisclosure Statement will be sent topersons entitled27If the entity has issued options, andthe terms entitle option holders toparticipate on exercise, the date onwhich notices will be sent to optionholders28Date rights trading will begin (ifapplicable)29Date rights trading will end (ifapplicable)30How do�security holders sell theirentitlements_in full_through abroker?31How do�security holders sell_part_of their entitlements through abroker and accept for the balance?32How do�security holders dispose oftheir entitlements (except by salethrough a broker)?

• See chapter 19 for defined terms.

Appendix 3B Page 5

1/1/2003

Appendix 3B New issue announcement

• 33 �Despatch date

���������������������������������

You need only complete this section if you are applying for quotation of securities

• 34 Type of securities ( tick one )

• (a) Securities described in Part 1

• (b) All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

���������� ��� �! �����" ���# ����$ %�&�

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

• 35 If the[+] securities are[+] equity securities, the names of the 20 largest holders of the additional[�] securities, and the number and percentage of additional[�] securities held by those holders

• 36 If the[+] securities are[+] equity securities, a distribution schedule of the additional �securities setting out the number of holders in the categories 1 - 1,000

  • 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over

• 37 A copy of any trust deed for the additional[�] securities

• See chapter 19 for defined terms.

Appendix 3B Page 6

1/1/2003

Appendix 3B New issue announcement

���������� ��� �! �����" ���# ����$ %# &�

38 Number of securities for which �quotation is sought 39 Class of �securities for which quotation is sought 40 Do the[�] securities rank equally in all respects from the date of allotment with an existing[�] class of quoted �securities? If the additional securities do not rank equally, please state: • the date from which they do • the extent to which they participate for the next dividend, (in the case of a trust, distribution) or interest payment

• the extent to which they do not rank equally, other than in relation to the next dividend, distribution or interest payment

41 Reason for request for quotation now Example: In the case of restricted securities, end of restriction period (if issued upon conversion of another security, clearly identify that other security) Number �Class

42 Number and[�] class of all[�] securities quoted on ASX ( including the securities in clause 38)

• See chapter 19 for defined terms.

Appendix 3B Page 7

1/1/2003

Appendix 3B New issue announcement

Quotation agreement

• 1 �Quotation of our additional �securities is in ASX’s absolute discretion. ASX may quote the[�] securities on any conditions it decides.

• 2 We warrant the following to ASX.

  • The issue of the[+] securities to be quoted complies with the law and is not for an illegal purpose.

  • There is no reason why those[+] securities should not be granted[+] quotation.

  • An offer of the[+] securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any[+] securities to be quoted and that no-one has any right to return any[+] securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the[+] securities be quoted.

• If we are a trust, we warrant that no person has the right to return the �securities to be quoted under section 1019B of the Corporations Act at the time that we request that the[+] securities be quoted.

• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

• 4 We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before[�] quotation of the[�] securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign here: Date: 31/08/2007 (Company secretary)

Print name: Nathan Wise

== == == == ==

• See chapter 19 for defined terms.

Appendix 3B Page 8

1/1/2003