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Cell Aquaculture Ltd - Latest ASX Announcement

"Progress on Malaysian Government Joint Venture"

Dear Subscriber,


Leading aquaculture technology and seafood production specialist Cell Aquaculture Ltd (Cell - ASX Code: CAQ) is pleased to advise strong progress is continuing on its Joint Venture with the Terengganu State Government, Malaysia.


Highlights are to follow:

· Further instalment payment of AUD$ 600,000 received.

· Over AUD$1,400,000 payments now received since April 2007.

· Construction of first 2,500 m2 building complete and Cell's installation team now on the ground in Malaysia.

· Construction of 'world class' multi-species hatchery building now commenced and scheduled for completion in late 2007.

· Discussions advancing to jointly develop a large-scale fully integrated aquaculture industry in Terengganu State.


To view the full ASX announcement, please click on the following link:

http://www.cellaqua.com/files/Malaysian-Govt-JV-Progress-Update-190707.pdf