MYECO GROUP LTD — Capital/Financing Update 2012

Mar 18, 2012

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TO: COMPANY ANNOUNCEMENTS OFFICE ASX LIMITED DATE: 19 March 2012

RIGHTS ISSUE

Following Cardia Bioplastics Limited announcement of Friday 16 March 2012 the underwriter to the issue, Patersons Securities Limited, in accordance with the terms of the underwriting agreement, have confirmed they will take up the shortfall amount of $302,598.

Upon receipt of the abovementioned shortfall amount, a total of $1.5M will have been raised between shareholders and the underwriter, and the Directors will look to place the balance of the shortfall securities in accordance with the ASX Listing Rules.

Pat Volpe Chairman

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