SEAFARMS GROUP LIMITED — Director's Dealing 2006

Aug 1, 2006

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 Appendix 3Y AWTG 02-08-06 (123)

ANNOUNCEMENT NUMBER 123

2 August 2006

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

By: ASX Online Number of pages: 3 (including this page)

Dear Sir

Change in Director's Interests - Andrew Grant

Following is Change of Director's Interests Notice for Andrew Grant.

Yours faithfully

Alen Leternahe.

Harley Whitcombe Company Secretary

Appendix 3Y

Change of Director's Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 30/9/2001.

Name of entity CO2 GROUP LIMITED
ABN 50 009 317 846

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

	Andrew William Thorold GRANT
Name of Director
Date of last notice	27 January 2006

Part 1 - Change of director's relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of "notifiable interest of a director" should be disclosed in this part.

Change Number 1

Direct or indirect interest	Direct
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	N/a
Date of change	1 August 2006
No. of securities held prior to change	6,416,008
Class	Options
Number acquired	$\blacksquare$
Number disposed	333,333
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	\$50,000
No. of securities held after change	6,082,675
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in bay-back	Off market transaction

⁺ See chapter 19 for defined terms.

Change Number 2

Direct or indirect interest	$\overline{ }$
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	$\overline{\phantom{a}}$
Date of change
No. of securities held prior to change	$\sim$
Class	$\rightarrow$
Number acquired	$\rightarrow$
Number disposed	$\overline{a}$
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation-
No. of securities held after change	$\overline{\phantom{a}}$
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in bay-back

Part 2 - Change of director's interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of "notifiable interest of a director" should be disclosed in this part.

Detail of contract	Not applicable
Nature of interest	Not applicable
Name of registered holder (if issued securities)	Not applicable
Date of change	Not applicable
No, and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	Not applicable
Interest acquired	Not applicable
Interest disposed	Not applicable
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	Not applicable
Interest after change	Not applicable

$+$ See chapter 19 for defined terms.