ACRUX LIMITED - Board/Management Information 2012

ACR U X (ACR) - ASX AN N OUNCE M ENT 22 FEBR UA RY 2012

AC R UX A N NOU N CES B OAR D CHA N GES

Acru x (ASX: A C R) today a nnounced that the company’s M anaging D irector an d Chie f Executive Officer, Richard Treagus has g iven notic e of his int e ntion to s t ep down at the end of the curr e nt financi a l year on 3 0 June 20 1 2.

Acru x Chairma n and form e r CEO Ro s s Dobinson said: “O n behalf of t he Comp a ny, I woul d like to ex p ress our a p preciatio n to Richar d . He has o verseen a h ighly successful six-y e ar period a nd the bu s iness is in a very stro n g positio n with our l e adprod u ct Axiron [®] having re c ently secu r ed over 1 0 % share o f the $1.5 b illion US mark e t and our f irst veteri n ary health p roduct R e cuvyra[®] o n track for l aunch this year. Acru x is now a p rofitable A SX200 company an d a leader i n the biote c hnology indus t ry, with a p articularl y strong ou t look for f u ture grow t h in royalt y revenues and divid e nd payme n ts.”

Effec t ive 1 July 2012, Ross Dobinson will assu m e the role of Executi v e Chairm a n and R ichard wil l work closely with th e Board to ensure a s m ooth tran s ition and busin e ss contin u ity during t his period . Richard w ill continue to provi d e consulti n g servi c es to Acru x as requir e d.

Rich a rd Treagu s said: “I a m very con f ident that A crux is in a strong p o sition an d well place d to capitalise on the i nitial succ e ss of Axir o n as well a s the stre n gth of our Lilly partn e rship. It h a s been an e xciting jo u rney and a real privi l ege to wo rk with suc h talent e d and engaged peop l e. I exten d my gratit u de to Ros s , my fello w Director s and the e n tire Acrux team for t h eir unqua l ified supp o rt over the last 6 yea r s.”

In a m ove to fur t her streng t hen the B o ard, Ross Barrow w i ll be appo i nted as a nonexec u tive direct o r, effectiv e 1 April 2 0 12. Ross has extens i ve experie n ce in the l ife scien c es sector. He was C h ief Operat i ng Office r and a director of Vis i on BioSy s tems Limit e d during t he period w hen the c o mpany be c ame a lea d er in the g l obal histo p athology m arket. Fo l lowing ac q uisition b y Danaher C orporatio n , Ross pl a yed a pivot a l role ove r seeing the global inte g ration of t he compa n y with Da n aher's subsi d iary, Leic a Microsys t ems Gmb H . Ross is currently t h e Chief E x ecutive Officer of Pa r anta Bios c iences Li m ited.

Acru x Chairma n Ross Dobinson com m ented “ W e are pleased to add R oss Barro w ’s skills and experience to the board as w e plan the transition t o the next stage of Acru x ’s develo p ment.”