MYECO GROUP LTD — Capital/Financing Update 2010

Oct 21, 2010

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TO: COMPANY ANNOUNCEMENTS OFFICE ASX LIMITED

DATE: 22 October 2010

MEDIA RELEASE

CARDIA BIOPLASTICS TO APPOINT VIRIATHUS CAPITAL LLC OF NEW YORK TO ADVISE ON A POSSIBLE LISTING ON OTCQX MARKETPLACE IN THE U.S.A

Cardia Bioplastics Limited (ASX: CNN) is pleased to announce that it is proceeding to prepare for American Depositary Receipt (“ADR”) trading in the United States on the OTCQX International following today’s Board approval to appoint and retain Viriathus Capital LLC (“Viriathus”) from New York, as their exclusive OTCQX Advisor.Viriathus will provide active support and advice on the process.

To the extent that Cardia receives approval for the proposed listing it will then have dual listing on the Australian Securities Exchange (ASX) and on the OTCQX in the U.S.A. It is expected that the listing process will be completed by November / December 2010.

The aim of the OTCQX listing is to enable U.S. investors to buy shares in Cardia as a foreign company without the hazards or inconveniences of cross-border and cross-currency transactions in Australia, hence creating liquidity in the USA.

The market will be informed on the progress of the proposed listing.

The Cardia Board believes that over the last 12 months, the interest in Bioplastics has accelerated with some significant growth in the market. State Governments in the USA have either legislated or are supportive of bans for the use of plastic bags. Recently there has been a significant shift not only by Governments in the USA but also by brand owners and consumers wanting plastics and packaging to have a smaller carbon footprint by using less oil, and replacing it with renewable and sustainable resources that have environmental benefits.

This is where the Cardia business is positioned.

Cardia has previously announced that it is in confidential development projects with several large packaging companies and large brand owners. Some of these companies are USA based. The potential listing in the USA will provide greater exposure and appreciation of the Cardia business to USA investors giving easier access to an investment in Cardia via the OTCQX.

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Viriathus has been retained for a period of 12 months to also assist Cardia with Investor relations in the USA as well as to manage, advise and perform the OTCQX listing process. The 12 month appointment is for a fee of USD $ 95,000 and including all costs and registration associated with the proposed OTCQX listing,

Viriathus Capital LLC has also been invited on a best endeavor basis to assist Cardia to place the balance of the short fall from its the recent rights issue to shareholders that closed on the 20[th] of September 2010 and has to date raised $2.2m from a maximum of $3.7m.

. The Directors have until 20[th] November to place the Shortfall balance of $1.5m .The Company is also working with other licensed financial advisors who are assisting in placing the short fall on the same best endeavors basis and will pay a placement fee of 5% where appropriate.

Pat Volpe Chairman

About Viriathus

Viriathus is an international group of diversified financial services companies providing US Capital Market Sponsorship and Advisory for International Companies.

Viriathus Capital offers expert investment banking services to Emerging Growth companies worldwide with a particular focus on the capital raising function. Its bankers have experience working with companies in a variety of industries throughout North America, South America, Europe, and Australia& New Zealand.

Viriathus Consulting provides a full-service institutional financial marketing solution that includes corporate positioning and communications, investment community targeting, non-deal road shows, market intelligence and media relations.

Viriathus Research provides institutional research coverage.

Viriathus Concept provides management consulting and strategic marketing services globally. It has offices in New York, Miami, Geneva, Moscow and Perth.

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About OTCQX International

OTCQX offers international companies a visible cross-listing in the U.S. on the premier tier of the OTC market, without the duplicative regulatory burdens of a traditional U.S. exchange listing. The superior information and visibility of the OTCQX marketplace allows companies to efficiently build investor confidence and expand their shareholder base. The innovative OTCQX platform offers companies and their shareholders a level of marketplace services formally available only on a U.S. stock exchange.

Further Information:

Pat Volpe Chairman Cardia Bioplastics +61 3 9813 2218

David Batista Senior Managing Director Viriathus Capital 44 Wall Street, 12th Floor New York, NY 10005-2413 USA +1 212 372 4879

Emma Power Media Relations Monsoon Communications +61 3 9620 3333 +61 419 149 525

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