up she goes

7 July 2006

CHEMEQ ACHIEVES REVENUE AND CASH TARGETS

Under the final milestone covenant in the convertible bond deed poll, Chemeq Limited
(ASX: CMQ) was required to achieve gross revenue from all sources of at least $4.0 million
for the year ended 30 June 2006 and to have liquid assets in excess of $24.0 million at 30
June 2006.

Chemeq is pleased to announce that it has achieved revenue for the financial year ended
30 June 2006 in excess of $4.0 million. This revenue was earned from product sales,
interest and other revenue.

In addition, Chemeq currently has in excess of $28.0 million in cash reserves.

Chemeq expects to release its audited full year results in August.

-ends-

FOR FURTHER INFORMATION PLEASE CONTACT:

David Williams
Chief Executive Officer
Chemeq Limited
Tel: 08 9362 0100

Tony Veitch
Castle Gates Australia
Tel: 08 9386 1025