SEAFARMS GROUP LIMITED — M&A Activity 2008

Sep 1, 2008

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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 Media Release - OMC Offer (230)

1 September 2008

ANNOUNCEMENT 230

Company Announcements Office Australian Stock Exchange 10[th] Floor 20 Bond Street SYDNEY NSW 2000

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

Dear Sir

Media Release OMC Takeover Successful

The Directors of CO2 Group Limited ( CO2) is pleased to announce that its takeover offer for the shares in The Oil Mallee Company of Australia Ltd ACN 079 355 445 ( OMC ) has been successful.

Australian Carbon Sinks Limited ACN 111 072 309 ( ACS ), a wholly owned subsidiary of CO2, which made the Offer has a relevant interest in over 90% of OMC and will shortly move to compulsorily acquire the remaining shares in OMC.

On 23 July 2008, CO2 announced a cash conditional offer for OMC at 32.5 cents per OMC share, valuing the share not already held by CO2 at approximately $700,000. The takeover offer is now unconditional.

The Offer is scheduled to close at 5:00pm (Perth, Western Australia time) on 8 September 2008 (unless extended).

ACS has recently appointed a majority of the directors of the board of OMC.

Yours faithfully CO2 Group Limited

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Harley Whitcombe Company Secretary

Media: for more information please contact Emily Staniforth, Wilkinson Media: 0402 349 856

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