MYECO GROUP LTD — Capital/Financing Update 2012

Jul 24, 2012

TO: COMPANY ANNOUNCEMENTS OFFICE ASX LIMITED DATE: 25 JULY 2012

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Sales Update for FY2012

• Strong sales performance in FY2012

• Sales revenue totalli n g $4.25million – 158% increase on FY2011

• Q4 2012 sales reven u e up 72% on previous corresponding period

• New cost restructuri n g program in effect and expected to be reflecte d in Q1 2013

Cardia Bioplastics Limited (ASX: CNN) is pleased to announce a sales revenue of $4. 2 5 million for the Financial Year ending 30 June 2012 – a sign i ficant 2.6-fold increase on the $1.65 million sales revenue recorded in FY2011. While the Company’s sale s target for FY2012 was $5 million, the growt h in sales revenue is still significant and represents a 158% improvement on the previous corresponding perio d .

Furthermore, sales for the June 201 2 quarter ($910,986) were up by 72% on sales for the same quarter period ($530,600) of the FY2011.

Given the current tough global trading conditions, particularly in Europe, the B o ard is pleased with the Company’s sales performance. It giv e s further commercial validation of the unique r e sin technologies, and also confirms that Cardia bioplastic pro d ucts are achieving market acceptance in a ne w and developing growth industry. The current global down t urn does however make it difficult for the Bo a rd to forecast sales with certainty for FY2013.

Cardia has also taken measures t o reduce its operating costs as the Company transitions from product development to commercialisation t hrough marketing and sales initiatives. A cost restructure program was implemented in the June 2012 quar t er and is expected to be reflected in the September 2012 quarterly cash flow statement. It is also expected t h at the cost reduction program will benefit the o v erall business in the 2013 Financial Year.

Chairman of Cardia Bioplastics, Mr Pat Volpe commented:

“Defying tough global trading conditions and in particular in Europe, the 2012 Finan c ial Year has proven to be a period of significant sales growt h for Cardia. Preliminary annual sales results of $4.25m for FY 2012 is approximately 2.6 times that of last Financial Year and a record performance in ter m s of sales in any one year for the Company.

“Cardia is strengthening its position in the bioplastics market, and as the global shift towards green economies continues to gain momentum, we ex p ect our sales pipeline to continue to grow.”

Cardia Bioplastics Limited Unit 18/35 Dunlop Road, Mulgrave, VIC 3 170, Australia www.cardiabioplastics.com

For further information please contact:

Justin Kelly Investor and Media Relations Director, M ercury Consulting (02) 8256 3350 | 0408 215 858

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Justin.Kelly@mercuryconsulting.com.au

About Cardia Bioplastics

Cardia Bioplastics Limited (ASX: CN N ) is an Australian developer and manufacturer of sustainable resins and finished products derived from renewable resources for the global packaging and p lastic products industries. The company holds a strong patent portfolio of sustainable resin technologies. The Company was established in 2002 and its main headquarters are in Melbourne, Australia. The Product D evelopment Centre and manufacturing plant is in Nanjing, China and there are also offices in America, Europ e , Malaysia and China.

Cardia Bioplastics Limited Unit 18/35 Dunlop Road, Mulgrave, VIC 3 170, Australia www.cardiabioplastics.com