11 July 2008

Further to the announcement made on 4 April 2008, the Directors of Magnus Energy Group Ltd. (“Magnus”) wish to announce that its wholly-owned subsidiary, Apac Coal Limited (“APAC”) was listed on the Official List of Australian Stock Exchange Limited (“ASX”) on 10 July 2008. The initial public offering (“IPO”) of APAC closed last week with the minimum subscription level of A$7 million. A total of 35,727,000 ordinary shares have been issued at 20 cents to new shareholders taking the total number of issued shares to 249,705,637. The proceeds raised from the IPO will be used predominantly to fund the development of APAC’s coal assets in Indonesia and to provide it with working capital.

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23 June 2008

The Board of Directors of Magnus Energy Group Ltd. (“Magnus”) is pleased to announce that Magnus has on 6 August 2008 acquired 2 ordinary shares of RM$1.00 each, comprising the entire share capital of MEG Management Sdn. Bhd. (“Meg”) from 2 individuals for a total consideration of RM$2.00 (the “Acquisition”).

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