ALGORAE PHARMACEUTICALS LIMITED — Director's Dealing 2008

Mar 19, 2008

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 30/9/2001.

Name of entity LIVING CELL TECHNOLOGIES LTD ABN 104 028 042

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	MR JOHN LAURIE HUNTER
Date of last notice	7 JUNE 2007

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	INDIRECT
Nature of indirect interest	HUNTER CAPITAL INTERNATIONAL INC
(including registered holder)
Note: Provide details of the circumstances giving rise to the relevant
interest.
Date of change	19 MARCH 2008

• See chapter 19 for defined terms.

Appendix 3Y Page 1

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Appendix 3Y Change of Director’s Interest Notice

No. of securities held prior to change	No. of securities held prior to change	No. of securities held prior to change	150,000 OPTIONS EXERCISABLE AT$0.20, VESTING ON 25 AUGUST 2007 ANDEXPIRING ON 1 JUNE 2012 HELD BYLAURIE HUNTER250,000 OPTIONS EXERCISABLE AT$0.30, VESTING ON 25 AUGUST 2007 ANDEXPIRING ON 1 JUNE 2012 HELD BYLAURIE HUNTER634,956 ORDINARY SHARES HELD BYHUNTER CAPITAL INTERNATIONAL INC713,464 WARRANTS EXERCISABLE AT$0.22 EXPIRING 29 JUNE 2011 HELD BYHUNTER CAPITAL INTERNATIONAL INC586,800 WARRANTS EXERCISABLE AT$0.175 EXPIRING 29 JUNE 2011 HELD BYHUNTER CAPITAL INTERNATIONAL INCUS $200,000 CONVERTIBLE NOTESNOTES EXERCISABLE INTO 1,564,800ORDINARY SHARES AT A$0.175 HELD BYHUNTER CAPITAL INTERNATIONAL INC	150,000 OPTIONS EXERCISABLE AT$0.20, VESTING ON 25 AUGUST 2007 ANDEXPIRING ON 1 JUNE 2012 HELD BYLAURIE HUNTER250,000 OPTIONS EXERCISABLE AT$0.30, VESTING ON 25 AUGUST 2007 ANDEXPIRING ON 1 JUNE 2012 HELD BYLAURIE HUNTER634,956 ORDINARY SHARES HELD BYHUNTER CAPITAL INTERNATIONAL INC713,464 WARRANTS EXERCISABLE AT$0.22 EXPIRING 29 JUNE 2011 HELD BYHUNTER CAPITAL INTERNATIONAL INC586,800 WARRANTS EXERCISABLE AT$0.175 EXPIRING 29 JUNE 2011 HELD BYHUNTER CAPITAL INTERNATIONAL INCUS $200,000 CONVERTIBLE NOTESNOTES EXERCISABLE INTO 1,564,800ORDINARY SHARES AT A$0.175 HELD BYHUNTER CAPITAL INTERNATIONAL INC	150,000 OPTIONS EXERCISABLE AT$0.20, VESTING ON 25 AUGUST 2007 ANDEXPIRING ON 1 JUNE 2012 HELD BYLAURIE HUNTER250,000 OPTIONS EXERCISABLE AT$0.30, VESTING ON 25 AUGUST 2007 ANDEXPIRING ON 1 JUNE 2012 HELD BYLAURIE HUNTER634,956 ORDINARY SHARES HELD BYHUNTER CAPITAL INTERNATIONAL INC713,464 WARRANTS EXERCISABLE AT$0.22 EXPIRING 29 JUNE 2011 HELD BYHUNTER CAPITAL INTERNATIONAL INC586,800 WARRANTS EXERCISABLE AT$0.175 EXPIRING 29 JUNE 2011 HELD BYHUNTER CAPITAL INTERNATIONAL INCUS $200,000 CONVERTIBLE NOTESNOTES EXERCISABLE INTO 1,564,800ORDINARY SHARES AT A$0.175 HELD BYHUNTER CAPITAL INTERNATIONAL INC
			634,956 ORDIHUNTER CAP	NARY SHARES HELD BYITAL INTERNATIONAL INC
			713,464 WAR$0.22 EXPIRIHUNTER CAP	RANTS EXERCISABLE ATNG 29 JUNE 2011 HELD BYITAL INTERNATIONAL INC
			586,800 WAR$0.175 EXPIRHUNTER CAP	RANTS EXERCISABLE ATING 29 JUNE 2011 HELD BYITAL INTERNATIONAL INC
			US $200,000NOTES EXEORDINARY S	CONVERTIBLE NOTESRCISABLE INTO 1,564,80HARES AT A$0.175 HELD B
			HUNTER CA	ITAL INTERNATIONAL INC
Class
			ORDINARY S	HARES
Number acquired			A) 1,320,617B) 260,106C) 429,982
Number disposed			NIL
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation			A) $0.175 EACHB) $0.175 EACHC) $0.01 EACH
No. of securities held after change			150,000 OPTIONS EXERCISABLE AT$0.20, VESTING ON 25 AUGUST 2007 ANDEXPIRING ON 1 JUNE 2012 HELD BYLAURIE HUNTER250,000 OPTIONS EXERCISABLE AT$0.30, VESTING ON 25 AUGUST 2007 ANDEXPIRING ON 1 JUNE 2012 HELD BYLAURIE HUNTER2,645,661 ORDINARY SHARES HELD BYHUNTER CAPITAL INTERNATIONAL INC713,464 WARRANTS EXERCISABLE AT$0.22 EXPIRING 29 JUNE 2011 HELD BYHUNTER CAPITAL INTERNATIONAL INC586,800 WARRANTS EXERCISABLE AT$0.175 EXPIRING 29 JUNE 2011 HELD BYHUNTER CAPITAL INTERNATIONAL INC

• See chapter 19 for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	A) CONVERSION OF CONVERTIBLE NOTEB) CONVERTIBLE NOTE INTERESTCONVERTEDC) EXERCISE OF OPTIONS ATTACHINGTO CONVERTIBLE NOTES

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder(if issued securities)	N/A
Date of change	N/A
No. and class of securities to whichinterest related prior to changeNote: Details are only required for a contract in relationto which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/ConsiderationNote: If consideration is non-cash, provide details andan estimated valuation	N/A
Interest after change	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 3

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