MYECO GROUP LTD — Capital/Financing Update 2009

Aug 9, 2009

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TO: COMPANY ANNOUNCEMENTS OFFICE ASX LIMITED DATE: 10 AUGUST 2009

INVESTMENT IN “WASTE PLASTIC TO FUEL” COMPANY.

The Board of Cardia Bioplastics Limited (“Cardia”) advises that it has acquired seven million shares in the capital of P-Fuel Limited (“P-Fuel”) at an issue price of $0.03 cents per P-Fuel share. The investment was acquired pursuant to an underwriting agreement entered into by Cardia in May 2009 in relation to a pro rata entitlements issue to all P-Fuel Members. The shares acquired represent a total of 5.8% of the issued capital of P-Fuel subsequent to the close of the issue. The total cost of the investment to Cardia was $210,000.This investment was acquired pursuant to an underwriting agreement entered into by Cardia in May 2009.

Within the meaning of Listing Rule 10.2 the cost of the Investment is significantly less than 5 % of the Cardia’s equity interests as set out in the latest financial statements given to ASX under the ASX Listing Rules. Additionally, it remains significantly less than 5 % of Cardia’s equity interests as at the date hereof.

The P-Fuel issue raised approximately $1.7 million.

P-Fuel Limited is an unlisted Australian public company that has the rights to market and distribute technology that converts waste plastic and waste oils to diesel, oils and other hydrocarbons with applications aimed at converting waste plastic back to plastics, transport quality diesel, mixed oils and for power generation. The marketing and distribution rights to the technology are global rights which are exclusive throughout the world with the exception of Asia and North America, where P-Fuel’s rights are nonexclusive.

P-Fuel aims to commission a full commercial plant (processing up to 6,000 tonnes of waste plastic per annum) in the United Kingdom in the first half of 2010.

Cardia believes that its investment in P-Fuel compliments its Bioplastics business and that the association will help it offer clients an end of life cycle solution to waste plastics and diversion from landfills.

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Cardia and P-Fuel are related parties as each of Mr. Patrick Volpe and Dr John Scheirs are directors of and shareholders in both Cardia and P-Fuel. Neither of them participated in Cardia’s decision to partially underwrite the P-Fuel issue or in P-Fuel’s decision to offer a partial underwriting of the offer to Cardia.

PAT VOLPE Chairman.

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