REACH RESOURCES LIMITED — Capital/Financing Update 2007

Jun 20, 2007

Cervantes Seafood Limited

21 June 2007

Jill Hewitt Companies Adviser Australian Securities Exchange Limited 2 The Esplanade Perth WA 6000

Dear Jill

Completion of Placement

Cervantes Seafood Limited (ASX: CVS) is pleased to advise that, following 23 May 2007 notification to ASX of the completion of the Share Offer, made under the Prospectus dated 11 April 2007, the Company has now completed the Placement Offer of 30,000,000 Shares and 30,000,000 Options under the same Prospectus.

Yours Sincerely

frover

Robert Grover Director Cervantes Seafood Limited