MYECO GROUP LTD — Capital/Financing Update 2007

Dec 16, 2007

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ACN 064 755 237

TO: COMPANY ANNOUNCEMENTS OFFICE AUSTRALIAN SECURITIES EXCHANGE

DATE: 17[th] December 2007

PROPOSED GRANT OF NEW OPTIONS TO HOLDERS OF OPTIONS EXPIRING ON 31[ST] DECEMBER 2007.

The Directors of Cardia Technologies Limited advise that the Company plans to convene a meeting of members to seek approval for a new series of options to be offered to holders of the existing options when they expire unexercised on 31[st] December 2007.

The new options will be granted at an issue price of $ 0.002 (0.2 of a cent) each and be exercisable at $ 0.10 (10 cents) each on or before 5.00 pm AEDT on 31 December 2012.

Approval will also be sought for the issue to be underwritten by Trayburn Pty Ltd, a Company associated with Mr Pat Volpe, the Chairman of Cardia.

Further details of the proposed new issue of options will be contained in a Notice of General Meeting expected to be despatched to members early in 2008.

John Wilson Company Secretary

CARDIA TECHNOLOGIES LTD

REGISTERED OFFICE Suite 510 Level 5 Pacific Tower 737-741 Burwood Road Hawthorn Victoria 3122 Australia Telephone +61 3 9813 3228 Facsimile +61 3 9813 2668 Email: cardia@bigpond.com