MYECO GROUP LTD — Capital/Financing Update 2008

Aug 25, 2008

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ACN 064 755 237

TO: COMPANY ANNOUNCEMENTS OFFICE AUSTRALIAN SECURITIES EXCHANGE

DATE: 26 August 2008

BIOGLOBAL LIMITED RAISES $1.5 MILLION .

The Board of Cardia Technologies Limited advise that it has been notified by Bioglobal Limited that it has placed a further 15,043,500 shares at 10c each. Cardia’s holding in Bioglobal after the issue is 27.30% (Previously 35%).

Bioglobal Limited will utilize the funds to provide additional working capital for the further development of the agriculture markets in China, South Africa and U.S.A for its environmentally friendly bio-chemical products.

In March 2008, Bioglobal commenced trials in China of a bio-chemical product that protects fruit from moth damage. The first year of the two year trials is expected to be completed in September 2008 in four provinces: Anhui, Shandong, Henan and Liaoning.The second year will finish in September 2009, after which it is anticipated that the product will receive registration as a agricultural chemical.

Two years of successful trials of Bioglobal’s attract and kill product for moths in wheat and grain legumes have now been completed in South Africa. Registration documents have been lodged in conjunction with Bioglobal’s distributors Tsunami Crop Care (Pty) Ltd, with acceptance expected in 2009.

A manufacturing facility is currently being established in Ballarat Victoria with the development of a production line to meet the immediate and future sales demand for the company’s biochemical products.

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