SEAFARMS GROUP LIMITED — Capital/Financing Update 2007

Mar 25, 2007

CO2 Group Limited

ABN 50 009 317 846 Level 11 225 St Georges Terrace Perth Western Australia 6000 PO Box 7312 Cloisters Square Perth Western Australia 6850 Phone (08) 9321 4111 Facsimile: (08) 9321 4411 www.co2australia.com.au

Our Ref: CO2 ASX Announce SPP Extension (155)

26 March 2007

Company Announcements Office Australian Stock Exchange $10^{th}$ Floor 20 Bond Street SYDNEY NSW 2000

ANNOUNCEMENT 155

By ASX Online Number of pages: 1 (including this page)

Dear Sir

$RE:$ Share Purchase Plan Extension of Closing Date to 5 April 2007

The Directors of CO2 Group announced today that the Company has received accreditation under the Federal Governments Greenhouse Friendly™ Scheme. This accreditation confirms that the Company is able to contract to plant anywhere in Australia.

As a consequence of this announcement the directors believe that shareholders who have not accepted into the Share Purchase Plan may now wish to and as a consequence wish to advise that they have further extended the date for acceptances of the company's Share Purchase Plan ("SPP") offer announced to ASX on 16 February 2007 to 5.00 pm (WST) on Thursday 5 April 2007.

Acceptances to date have been above expectations; however this announcement may see additional shareholders wishing to take up the SPP offer.

For further information regarding this announcement please contact Harley Whitcombe or James McAuliffe on (08) 9321 4111.

Yours faithfully

Alert Leteran Le.

Harley Whitcombe Company Secretary