ALGORAE PHARMACEUTICALS LIMITED — Director's Dealing 2008

Mar 13, 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	DR PAUL LIP JIN TAN
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	DIRECT
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.
Date of change	7 MARCH 2008
No. of securities held prior to change	148,571 FULLY PAID ORDINARY SHARES HELD BY PAUL LIP JIN TAN 300,000 OPTIONS EXERCISABLE AT $0.30 EACH EXPIRING 15 NOVEMBER 2010 HELD BY PAUL LIP JIN TAN 500,000 OPTIONS EXERCISABLE AT $0.20 EACH, VESTING ON 23 APRIL 2008 AND EXPIRING 15/11/2010 HELD BY PAUL LIP JIN TAN
Class	OPTIONS
Number acquired	500,000
Number disposed	NIL

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	PART OF REMUNERATION PACKAGE – EXERCISABLE AT $0.30 EACH
No. of securities held after change	148,571 FULLY PAID ORDINARY SHARES HELD BY PAUL LIP JIN TAN 300,000 OPTIONS EXERCISABLE AT $0.30 EACH EXPIRING 15 NOVEMBER 2010 HELD BY PAUL LIP JIN TAN 500,000 OPTIONS EXERCISABLE AT $0.20 EACH, VESTING ON 23 APRIL 2008 AND EXPIRING 15/11/2010 HELD BY PAUL LIP JIN TAN 500,000 OPTIONS EXERCISABLE AT $0.30 EACH, VESTING ON 23 FEBRUARY 2008 AND EXPIRING 07/03/2013 HELD BY PAUL LIP JIN TAN
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	ISSUE OF OPTIONS - APPROVED BY MEMBERS AT GM HELD ON 7 MARCH 2008

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 which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002