Cell Aquaculture LTD

Projects

First Malaysian Premium Barramundi Harvests

March 2009: Cell Aquaculture Ltd (CAQ) is pleased to announce that the first commercial harvests of Premium Australian Barramundi have now taken place from the company’s initial state-of-the-art production facility in Besut, Terengganu and the product is currently receiving rave reviews from some of Australia and Malaysia’s top 5 Star Executive Chefs.

CAQ's first Malaysian Premium Australian Barramundi harvests have been described by some of Australia and Malaysia's top 5 Star Chefs as 'simply stunning' in terms of taste, texture and appearance.

'Glistening' CAQ Premium Barramundi, ready to be shipped to Australia. Product is served on Melbourne's restaurant tables within 18 hours of harvest.

CAQ Executive Director, Peter Burns, displays some 'Baby Barra' grown for the local Kuala Lumpur 5 Star hotel market.

CAQ's unique vertically integrated production process, consistently produces 'the ultimate' Premium Australian Barramundi.

Cell's Malaysian Expansion Projects Explained Directly to Malaysian Prime Minister

Cell's Executive Director, Peter G Burns, explains the company's expansion plans to Malaysian Prime Minister, Dato' Seri Abdullah Ahmad Badawi as Federal Agriculture Minister, Dato' Mustapha Mohamed looks on in the background.

Prime Minister Badawi learns more about Cell's Malaysian plans as discussions continue with Senior Australian Trade Commissioner to Malaysia, Peter Kane.

Malaysian Agriculture, Horticulture and Agrotourism Exhibition (MAHA) 2008, in Kuala Lumpur

Cell Aqua Executive Director, Peter G Burns, outlines Cell's Terengganu expansion plans at an opening presentation of the MAHA Show.

Malaysian Federal Agriculture Minister Visits Flagship Production Site in Terengganu

Malaysian Federal Agriculture Minister Dato' Mustapha Mohamed feeds the fish in the Cell System as he learns more about the project and future expansion plans.

Cell Aqua Executive Director, Peter G Burns, makes a presentation on current and future planning to the State and Federal delegation. The delegation included Malaysian Federal Agriculture Minister, Dato' Mustapha Mohamed, Malaysian Director General of Fisheries Dato' Junaidi B. Che Ayub and Terengganu State Exco for Agriculture, YB En Rozi Mamat.

Official Opening Ceremony of TRG Cell Malaysian Joint Venture

19th February 2008 - TRG Cell today opened its doors to a first of its kind, state-of-the-art, barramundi production facility in Tanjong Demong, Terengganu, Malaysia.

The opening marks completion of the first stage of a planned 1,100+ tonne per annum expansion program.

The event was graced by:

Y.B Dato Mohd Jidin Bin Shafee - State Agriculture Minister of Terengganu;

Y.B Dato’ Haji Mazlan Bin Ngah - State Finance Minister of Terengganu &

Her Excellency (H.E) Ms Penny Williams - Australian High Commissioner to Malaysia

Y.B Dato' Mazlan Bin Ngah, State Finance Minister of Terengganu, Malaysia and Her Excellency Ms Penny Williams, Australian High Commissioner to Malaysia cut the opening ribbon to officially open the first stage of production for TRG Cell Sdn Bhd.

Ribbon cutting is overlooked by Y.B Dato’ Haji. Mohd Jidin Bin Shafee, State Agriculture Minister of Terengganu, Mr Peter Kane (Australian Senior Trade Commissioner to Malaysia) and Mr Peter Burns (General Manager Asia - Cell Aquaculture Ltd & Executive Director TRG Cell - Sdn Bhd)

Y.B Dato' Mazlan Bin Ngah, State Finance Minister of Terengganu, Malaysia and Her Excellency Ms Penny Williams, Australian High Commissioner to Malaysia feed the first baby fish within the TRG Cell production facility.

Feeding of fish is overlooked by Y.B Dato’ Haji. Mohd Jidin Bin Shafee, State Agriculture Minister of Terengganu, Mr Peter Kane (Australian Senior Trade Commissioner to Malaysia), Ir Adnan Ghazali (TADC – Executive Director) and Mr Peter Burns (General Manager Asia - Cell Aquaculture Ltd & Executive Director TRG Cell - Sdn Bhd)

A Press Conference followed the opening ceremony resulting in extensive media coverage throughout Malaysia

(Left to Right) -

Y.B Dato' Mazlan Bin Ngah - State Finance Minister of Terengganu, Malaysia,

Mr Peter Burns - General Manager Asia - Cell Aquaculture Ltd & Executive Director TRG Cell - Sdn Bhd;

Y.B Dato’ Haji. Mohd Jidin Bin Shafee - State Agriculture Minister of Terengganu, Malaysia;

Ir Adnan Ghazali TADC - Executive Director

Her Excellency Ms Penny Williams - Australian High Commissioner to Malaysia

Stage 1 Terengganu Production Facility Complete

Signing Ceremony with Malaysian Government

On 2nd September 2007, Cell Aquaculture Limited (ASX: CAQ) participated in a signing ceremony with government officials in Malaysia to mark the beginning of its Malaysian joint venture aquaculture company – TRG Cell Sdn Bhd.

Building and site works are now complete and ready for Cell’s final fit-out before the expected initial 100 tonnes annual production of Barramundi commences, along with a range of further specialty fish species. The project has a targeted capacity of 1,200 tonnes of finfish production per annum.

Special guests at the signing ceremony were YB Tan Sri Dato’ Haji Muhyiddin Bin Haji Mohd Yassin, Malaysia’s Federal Minister of Agriculture and Dato’ Seri Haji Idris Bin Jusoh, Premier of Terengganu. Formal joint venture documentation was signed with CAQ by Terengganu’s State Agriculture Minister, Dato’ Mohd Jidin Shafee.

Terengganu State Agriculture Minister, Dato' Mohd Jidin Shafee and Cell Aqua Director,

Perry Leach sign the formal Joint Venture agreement

The exhange of contracts is observed by Federal Agriculture Minister,

Dato' Tan Sri Muhyiddin Yassin

Cell Aqua Director Perry Leach presents Cell's Barramundi logo to

Federal Agriculture Minister, Dato' Tan Sri Muhyiddin Yassin

A Press Conference followed the signing, resulting in coverage in virtually every

national Malaysian newspaper

OVERVIEW OF CURRENT CELL AQUA PROJECTS

Cell Aquaculture has a number of projects in different stages of development. Please find information on some of these projects below.

TRG Cell Sdn Bhd - Joint Venture with Malaysian Government (Terengganu, Malaysia)

Species: Initially Barramundi (New Species Under Evaluation)

System Size: 1200 metric tons per annum (Forecast at full production)

About TRG Cell Sdn Bhd

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TRG Cell Sdn Bhd is an aquaculture Joint Venture between Cell and the Terengganu Agrotech Development Corporation (TADC), an entity wholly owned and controlled by the Terengganu State Government, Malaysia.

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The Joint Venture will develop a ‘fully integrated’ aquaculture industry within the State of Terengganu and assess other aquaculture opportunities outside the State.

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Via its Malaysian based subsidiary, Cell Aquaculture Ltd will provide licensed use of Cell™ proprietary equipment, license fees, project management and technical support services to the Joint Venture to ensure its success.

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The project will be conducted in a number of stages. Production capacity is expected to be approx 1200 tons per annum at completion. Future development will encompass: Multi-Species Hatchery, Manufacturing Capability, Processing & Value Adding, Aquaculture Feed Development.