MYECO GROUP LTD — Capital/Financing Update 2014

Feb 11, 2014

FOR

IMMEDIATE RELEASE

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TO: COMPANY ANNOUNCEMENTS OFFICE ASX LIMITED DATE: 12 February 2014

**Cardia

Bioplastics signs supply contract with Ricoy Supermercados in Brazil in lead up to FIFA World Cup**

• Annual contract to supply Ricoy Supermercados, one of Brazil’s largest supermarket chains

• Ricoy Supermercados initially trialled US$150,000 of Cardia Bioplastics bags over 4 months and successfully validated Cardia’s product quality

• Cardia Bioplasticos (Brasil) Ltda. set up resources and infrastructure to supply both resin and finished goods to the large Brazilian plastics and retail market

• Cardia’s Brazilian sales gaining traction in the lead up to the 2014 FIFA World Cup Brazil™ and Rio 2016™ Olympic and Paralympic Games

Cardia Bioplastics Limited (ASX: CNN) continues to expand its retail carrier bag sales in international markets after having been selected as the preferred bag supplier to Ricoy Supermercados in Brazil.

Ricoy Supermercados is one of Brazil’s large regional supermarket chains operating 90 stores with more than 8500 employees in Brazil’s premier state of São Paulo. Ricoy Supermercados, through its subsidiary Russi Supermercados ordered US$150,000 of Cardia Bioplastics bags over 4 months and successfully validated Cardia’s product quality. An annual supply agreement has been executed with forecast of 5 Million Cardia Bioplastics bags (US$70K) per month based on initial orders.

Brazil is South America’s largest consumer market and the seventh largest globally. With the impending 2014 FIFA World Cup Brazil™, Rio 2016™ Olympic and Paralympic Games as well as changing legislation increasing demand for Cardia Biohybrid™ and compostable bags, Cardia’s entry into the Brazilian market is well timed.

“We are very excited to be supplying Ricoy Supermercados,” said Cardia Bioplastics Managing Director Dr Frank Glatz. “As one of São Paulo State’s largest supermarket chains, we have entered the market working with a true leader.”

“The opportunities for growth in Brazil are immense. Our team in Brazil is perfectly placed to continue to grow the business at such an exciting time,” he said. “Working in Brazil, we recognise that having a local team who understands the culture and regulations is imperative to Cardia’s success.”

“Cardia Bioplasticos (Brasil) Ltda. under the leadership of Joao Paulo Mignot, Cardia’s Managing Director Latin America, has set up resources and infrastructure to supply both resin and finished goods to the large Brazilian plastics and retail market.”

The Ricoy Supermercados agreement follows further wins for Cardia Bioplastics having won major contracts in China including supplying Shanghai Pudong Council with its Biohybrid™ waste management products.

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Brazilian Russi Supermercados using Cardia Bioplastics carrier bag

**About

Ricoy Supermercados**

Ricoy Supermercados is a Brazilian supermarket chain operating primarily in the state of São Paulo. With revenues of BRL 1.8 billion, 90 stores and more than 8500 employees it ranks as fourth largest supermarket chain in the state of São Paulo and fifteenth largest in Brazil. Ricoy operates under the brands Supermercado Ricoy, The Most, Peri, Russi, Economax, The More and Honey Bread. Ricoy positioned itself as a supermarket that gives its customers a shop they trust, delivering quality, value and service. Russi Supermercados is a subsidiary of Ricoy operating 16 stores in the city of Jundiaí and its surrounding region.

**About

Cardia Bioplastics**

Cardia Bioplastics Limited (ASX CODE: CNN) develops, manufactures and markets its patented renewable resource-­‐based materials and finished products derived from Cardia’s proprietary technology for the global packaging and plastic products industries. The company holds a strong patent portfolio and its growth is fuelled by the global trend towards sustainable packaging. Established in Australia in 2002 as Biograde, the company Headquarters and Global Applications Development Centre is in Melbourne, Australia. The Product Development Centre and manufacturing plant for resins and finished goods is in Nanjing, China. Cardia Bioplastics has offices in Australia, China, USA, Brazil and Malaysia, and a network of leading distributors across the Americas, Asia and Europe. Visit www.cardiabioplastics.com

**Further

information:**

Dr Frank Glatz Nadya Krienke-­‐Becker Managing Director Global Head of Marketing Cardia Bioplastics Cardia Bioplastics +61 400 930 530 +61 414 672 863 f.glatz@cardiabioplastics.com n.krienke-­‐becker@cardiabioplastics.com