MYECO GROUP LTD — Capital/Financing Update 2009

Jul 9, 2009

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TO: COMPANY ANNOUNCEMENTS OFFICE ASX LIMITED

DATE: 10 JULY 2009

PROPOSED PRO-RATA OFFER OF SHARES IN CAM BOW TO CARDIA SHAREHOLDERS

The Board of Cardia Bioplastics Limited wishes to announce a non-renounceable offer of shares in Cam Bow Pty Ltd (currently in the process of changing its status to Cam Bow Limited) to existing Cardia Shareholders on the basis of 1 Cam Bow share for every 5 shares held in Cardia at 1.5 cents per share.

In April 2009 Cardia announced that it planned to transfer all the issued capital of its wholly owned Botswana subsidiary Cam Bow Holdings (Pty) Ltd to an Australian based subsidiary. The subsidiary acquired was Cam Bow Pty Ltd,not Rio Minerals Pty Ltd as previously advised.

Cam Bow Holdings (Pty) Ltd holds eleven licences to prospect for base, precious and radioactive minerals in Botswana.

The Company also announced at the same time that it was considering a funding program for further exploration work on the licences should preliminary ground survey work produce promising results.

Cardia’s existing cash resources will however be focussed on the development of its bioplastics business and to enable the acceleration of a planned exploration program on the Botswana licences will require additional funding.

To obtain these funds, and in line with Cardia’s strategy of developing start up businesses and offering shareholders the opportunity to participate, the Company proposes to make a non-renounceable entitlements issue of ordinary shares in Cam Bow to Cardia Shareholders on the following basis :-

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1. Up to 123,227,318 fully paid ordinary shares on the basis of 1 Cam Bow Share for every 5 shares held in Cardia.

2. The issue price of the shares will be $0.015 (1.5 cents) per share.

3. The issue will raise approx $ 1,848,410.

4. The funds raised will be used for further exploration work on the Company’s uranium prospecting licences in Botswana and for general working capital purposes.

The offer will be made via an Offer Information Statement which is currently being prepared, and will be fully underwritten by Trayburn Pty Ltd, a Company associated with Pat Volpe, a director of Cardia, for a 5% underwriting fee which will be approximately $92,420 to be paid in cash or shares to an equivalent value.

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Pat Volpe Chairman