MYECO GROUP LTD — Capital/Financing Update 2011

Dec 22, 2011

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ASX CODE: CNN OTCQX CODE: CDRBY

TO: COMPANY ANNOUNCEMENTS OFFICE ASX LIMITED

DATE: 23 December 2011

INVESTMENTS IN BIOGLOBAL LIMITED

The Board of Cardia wishes to advise that Shareholders of Bioglobal Limited (“BGL”) at the General Meeting of Members held in Brisbane today, approved an issue of shares to Good Harvest Biotech Holdings Limited of 300 million new ordinary shares at 1.3 cents cash per share to raise $3,900,000 in BGL.

Cardia did not participate in the issue. As a result, Cardia’s investments in BGL has diluted down to 4.63% (from current 17.78 %).

Cardia’s investment in BGL is currently carried at fair value of 15 cents per share. The Board will review the carrying value of its investments in BGL in half yearly accounts to 31 December 2011.

Pat Volpe Chairman

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