Atlas South Sea Pearl Heading Upwards.

The Manager
Australian Stock Exchange
Exchange Plaza 2 The Esplanade
PERTH WA 6000

RE: HALF YEAR ACCOUNTS, PROFIT RESULT AND DIVIDEND
ANNOUNCEMENT

The Company lodges its financial report for the six month period to 30th June 2007. The
Directors are pleased to announce a pre tax profit of $3,308,636 and an after tax profit of
$2,494,195 being a 55% increase on the six months period to 30th June 2006 which was $1,606,308.

This profit is the result of operating revenue of $8,742,677 (6 months to 30th June 2006 : $4,532,863) which is a 92% increase in turnover.

Dividend

The Board is pleased to announce a fully franked dividend of two (2) cents per share. The
record date for entitlement to the dividend payment will be the 2nd October 2007 and the ex-dividend date will be the 25th September 2007.

The payment date of the dividend will be 26th October 2007. It has been decided that the dividend reinvestment plan that is in place shall not be available for this dividend payment.

Second Half Projections

The company expects to achieve its full year revenue forecast of $14 million and net pre-tax
profit of $4.5 million. The recent appreciation of the Japanese Yen against the Australian
Dollar will have a positive effect on the earning capacity of the company if this trend
continues.




	
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