MYECO GROUP LTD — Capital/Financing Update 2007

Dec 2, 2007

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ACN 064 755 237

TO: COMPANY ANNOUNCEMENTS OFFICE AUSTRALIAN SECURITIES EXCHANGE

DATE:

3[rd] December 2007

EXPIRY OF 31[ST] DECEMBER 2007 OPTIONS

An Options Expiry Notice has today been mailed to all of the Company’s optionholders, a copy of which is attached.

The current options are due to expire on the 31[st] December 2007 and will cease trading on the ASX on the 20[th] December 2007.

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

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ACN 064 755 237

3 December 2007

No of Options held ____

Dear Optionholder,

EXPIRY OF 31[st] DECEMBER 2007 OPTIONS

As a holder of 31 December 2007 options in Cardia Technologies Ltd (“Cardia”) this letter is to formally advise you that the options will expire at 5.00 pm (EDT) on 31 December 2007.These options entitle you to acquire fully paid ordinary shares in the capital of Cardia. Each option held is for the acquisition of one fully paid ordinary share at an exercise price of 10 cents per share.

Official quotation of the options on Australian Securities Exchange (“ASX”) will cease on close of trading at 5.00pm (EDT) on Thursday 20[th] December 2007.

The options may be exercised in whole or in part by the payment of 10 cents for each option no later than 31 December 2007. If payment is not received by 5.00pm (EDT) on that date the options will lapse and all rights under the options will cease at that time.

There is no obligation upon option holders to exercise their options. However, under paragraph 6.1, of appendix 6A of the ASX Listing Rules, the company is required to advise option holders of the information contained in this notice.

The market sale price of ordinary fully paid shares in Cardia on ASX was 8.6 cents on 30 November 2007, being the last trading day on ASX prior to the date of this notice.

During the three (3) months preceding the date of this notice:

• The highest market sale price of fully paid ordinary shares on ASX was 9 cents on 29 November 2007, and

• The lowest market sale price of fully paid ordinary shares was 5.5 cents on the 23 November 2007.

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

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ACN 064 755 237

If you wish to exercise your options then you must complete the attached form of exercise and forward together with payment of 10 cents per option exercised to be received by 5.00pm (EDT) on 31 December 2007 at the Company’s Office Registered office at the address shown below.

Cheques should be made payable to Cardia Technologies Ltd in Australian dollars only and should be crossed “not negotiable”

If you have any further questions please do not hesitate to contact John Wilson on (03) 9813 3228.

Yours sincerely,

Pat Volpe Chairman

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

CARDIA TECHNOLOGIES LIMITED

ABN 89 064 755 237

1. Terms and conditions of the Options

• i. The Options are exercisable at any time prior to 5.00pm EST on 31 December 2007 (“the Expiry Date”). Options not exercised on or before the Expiry Date will automatically lapse.

• ii. The Options may be exercised wholly or in part by completing an application form for Shares (“Notice of Exercise”) delivered to the Company’s Registered Office at any time prior to the Expiry Date.

• iii. The Options entitle the holder to subscribe (in respect of each Option held) for a Share at an exercise price per Option of 10 cents .

• iv. Upon the exercise of the Options and receipt of all relevant documents and payment, Shares will be issued ranking pari passu with the then issued Shares. The Company will apply to ASX to have the Shares granted Official Quotation.

• v. A Summary of the terms and conditions of the Options including the Notice of Exercise is sent to all holders of Options when the initial holding statement is sent.

• vi. There are not participating entitlements inherent in the options to participate in new issues of capital, which may be offered to shareholders during the currency of the Options. Prior to any new pro rata issue of securities to shareholders, holders of Options will be notified by the Company and will be afforded 10 Business Days before the record date (to determine entitlements to the issue), to exercise Options.

• vii. In the event of any reconstruction (including consolidation, sub-division, reduction or return) of the issued capital of the Company prior to the Expiry Date the number of Options or the exercise price of the Options or both shall be reconstructed (as appropriate) in a manner which will not result in any benefits being conferred on holders of Options which are not being conferred on shareholders and (subject to the provisions with respect to rounding of entitlements as sanctioned by the meeting of shareholders approving the reconstruction of capital), in all respects the terms of the exercise of Options shall remain unchanged.

• viii. The Options may be transferred at any time prior to the Expiry Date.

• ix. Shares issued pursuant to the exercise of an Option will be issued not more than 14 days after the Notice of Exercise.

NOTICE OF EXERCISE OF OPTIONS

TO: Cardia Technologies Limited Suite 5.10 Level 5 737 Burwood Road Hawthorn VIC 3122

I/We __________ being the registered holder(s) of the options hereby exercise my/our option to subscribe for ___ordinary shares. In respect of the shares the subject of this notice, I/we enclose application monies of $______.

I/We authorise you to register me/us as the holder(s) of the shares to be allotted to me/us and I/we agree to accept such shares subject to the Company’s Constitution.

Holder Identification Number (“HIN”) or Securityholder Reference Number (“SRN”)

INDIVIDUALS TO SIGN BELOW

COMPANIES TO SIGN BELOW

………….………………………….......

..............................................................................

Executed in accordance with the Company’s Constitution

………………………………………………………... Director

Affix common seal here (if required by constitution)

...............................................................................

If a joint holding, all shareholders must sign. If this form is being signed by a person who is not the registered holder, then the relevant authority (e.g. power of attorney) must either have previously been exhibited to the Company or its Registrar or be attached to this form.

………………………………………………………...

Director/Secretary (Delete inapplicable) OR

………………………………………………………... Sole Director and Sole Company Secretary

If only one signatory needs to sign on behalf of a Company and that signatory is not the Sole Director and Sole Company Secretary then a certified copy of the Company’s Constitution must either have previously been exhibited to the Company or its Registrar or be attached to this form.

Dated this _____ day of _______ 2007