ALGORAE PHARMACEUTICALS LIMITED — Director's Dealing 2008

Feb 12, 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 DAVID COLLINSON
Date of last notice	25 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 AND INDIRECT
Nature of indirect interest(including registered holder)Note: Provide details of the circumstances giving rise to the relevantinterest.	PANCELL LIMITED (DIRECTOR)
Date of change	12 FEBRUARY 2008
No. of securities held prior to change	188,790 ORINARY SHARES (HELD BYDAVID COLLINSON)9,888,673 ORDINARY SHARES (HELD BYDAVID AND GRAEME COLLINSON)60,494 ORDINARY SHARES (HELD BYDAVID COLLINSON, GRAEME COLLINSONAND ANNA NATHAN)2,123,300 OPTIONS EXPIRING 30/06/2010350,000 OPTIONS EXERCISABLE AT $0.30PER SHARE, VESTING ON 9 MARCH 2007AND EXPIRING ON 9 MARCH 2009625,000 ORDINARY SHARES (HELD BYPANCELL LIMITED)
Class	ORDINARY SHARS

• See chapter 19 for defined terms.

Appendix 3Y Page 1

11/3/2002

Appendix 3Y Change of Director’s Interest Notice

Number acquired	260,417
Number disposed	520,834
Value/ConsiderationNote: If consideration is non-cash, provide details and estimatedvaluation	$0.30 EACH
No. of securities held after change	188,790 ORINARY SHARES (HELD BYDAVID COLLINSON)10,149,090 ORDINARY SHARES (HELD BYDAVID AND GRAEME COLLINSON)60,494 ORDINARY SHARES (HELD BYDAVID COLLINSON, GRAEME COLLINSONAND ANNA NATHAN)2,123,300 OPTIONS EXPIRING 30/06/2010350,000 OPTIONS EXERCISABLE AT $0.30PER SHARE, VESTING ON 9 MARCH 2007AND EXPIRING ON 9 MARCH 2009104,166 ORDINARY SHARES (HELD BYPANCELL LIMITED)
Nature of changeExample: on-market trade, off-market trade, exercise of options, issue ofsecurities under dividend reinvestment plan, participation in buy-back	ON MARKET TRANSFER

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 2

11/3/2002