placement out

1st August 2007 : The Directors of KarmelSonix Ltd (KSX) are pleased to announce that following the passing of the resolutions at the Company’s General Meeting held on 27th July, 2007 applications have now been received totalling in excess of $5.5 million. The final amount accepted under the placement may increase due to certain overseas applications which will be finalised by 2nd August, 2007. Under the resolution the Company is able to issue up to 50.0 million Shares at 80% of the 5 trading day VWAP prior to the meeting. Based on this formula the placement price has been set at 19 cents per new Ordinary Share.