SEAFARMS GROUP LIMITED — Director's Dealing 2008

May 22, 2008

™ 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 & HRW 23-05-08 (222)

ANNOUNCEMENT NUMBER 222

23 May 2008

Company Announcements Office Australian Stock Exchange 10th Floor By: ASX Online 20 Bond Street Number of pages: 4 SYDNEY NSW 2000 (including this page)

Dear Sir

Change in Director's Interests – Andrew Grant

Following is Change of Director's Interests Notice for Andrew Grant and Harley Whitcombe. The Disposal of options was undertaken to assist Mr Grant in meeting his taxation obligations, similarly for Mr Whitcombe.

Yours faithfully

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	5 December 2007

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 relevantinterest.	N/a
Date of change	22 May 2008
No. of securities held prior to change	4,137,290
Class	Listed Options
Number acquired	-
Number disposed	1,089,229
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	$341,000
No. of securities held after change	3,048,061
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Off market transactions

+ See chapter 19 for defined terms.

Change Number 2

Direct or indirect interest	Indirect
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	Name of Holder: 1. A&L Grant SuperannuationFund2. Andrew Grant ATF TheGrant Super FundNature of Interest of Director: As beneficiary ofthe Superannuation Fund
Date of change	22 May 2008
No. of securities held prior to change	1.314,2442. 842,120
Class	Options
Number acquired	1.89,2292.nil
Number disposed	-
Value/ConsiderationNote: If consideration is non-cash, provide details and estimated valuation	1.$41,0002.nil
No. of securities held after change	1. 403,4732. 842,120
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	Off market transactions

+ See chapter 19 for defined terms.

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.

	Harley Ronald Whitcombe
Name of Director
Date of last notice	12 February 2008

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

Direct or indirect interest	Indirect
Nature of indirect interest	Name of Holder: 1. City Lane Pty Ltd as trustee
(including registered holder)	of the Whitcombe Family Trust and 2. City Lane
Note: Provide details of the circumstances giving rise to the relevant	Pty Ltd as trustee of the Harley Ronald
interest.	Whitcombe Superannuation Fund
	Nature of Interest of Director: As beneficiary of
	the Family Trust and Superannuation Fund
Date of change	23 May 2008
No. of securities held prior to change	1.6,755,852
	2.1,023,025
Class	Ordinary Shares
Number acquired	1.N/a
	2.12,852
Number disposed	1.202,852
	2.0
Value/Consideration	1.($81,114.66)
Note: If consideration is non-cash, provide details and estimated valuation	2.$4,819.50
No. of securities held after change	1.6,553,000
	2.1,061,677
Nature of change	1.On & Off Market sales
Example: on-market trade, off-market trade, exercise of options, issue of	2.Off market purchases
securities under dividend reinvestment plan, participation in buy-back