ALGORAE PHARMACEUTICALS LIMITED — Director's Dealing 2009

Nov 24, 2009

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 MCAULIFFE
Date of last notice	29 SEPTEMBER 2009

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 (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	WIFE
Date of change	19 NOVEMBER 2009
No. of securities held prior to change	150,000 UNLISTED OPTIONS, EXERCISE PRICE $0.25, VESTING DATE 23 SEPTMEBER 2010, EXPIRY DATE 19 NOVEMBER 2014. (SUBJECT TO SHAREHOLDER APPROVAL) 250,000 UNLISTED OPTIONS, EXERCISE PRICE $0.35, VESTING DATE 23 SEPTEMBER 2010, EXPIRY DATE 19 NOVEMBER 2014. (SUBJECT TO SHAREHOLDER APPROVAL)
Class	UNLISTED OPTIONS
Number acquired	400,000
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	NIL ISSUE PRICE
No. of securities held after change	150,000 UNLISTED OPTIONS (HELD BY M E LIVINGSTON), EXERCISE PRICE $0.25, VESTING DATE 23 SEPTMEBER 2010, EXPIRY DATE 19 NOVEMBER 2014. 250,000 UNLISTED OPTIONS (HELD BY M E LIVINGSTON), EXERCISE PRICE $0.35, VESTING DATE 23 SEPTEMBER 2010, EXPIRY DATE 19 NOVEMBER 2014.
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 SHAREHOLDERS AT THE AGM HELD ON 19/11/2009

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
Name of registered holder (if issued securities)
Date of change
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
Interest acquired
Interest disposed
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation
Interest after change

• See chapter 19 for defined terms.

Appendix 3Y Page 2

11/3/2002