ASSOCIATE GLOBAL PARTNERS LIMITED — Capital/Financing Update 2007

Sep 2, 2007

ASX Announcement

Proteome Systems Limited ACN 080 277 998

Company Announcements Office Australian Stock Exchange

ASX Announcement

Proteome Systems Limited (PXL)

3 September 2007

Proteome Systems Announces Capital Raising

ASX listed diagnostic and therapeutic company Proteome Systems Limited today announced that it is undertaking a private placement to raise a minimum of $5.5 million in new equity capital. The placement is underwritten to the extent of $5.25 million by a range of domestic institutional investors. Shares in the placement will be offered at 25 cents per share to institutional and sophisticated investors primarily in Australia, USA and Europe.

The company will also make an offer to all shareholders under a Share Purchase Plan (SPP) giving them the opportunity to purchase up to A$5,000 worth of new, fully paid shares at 25 cents per share, without brokerage costs. Details of the SPP offer are expected to be mailed to eligible shareholders next week.

The company’s chief executive officer, Dr. Jenny Harry, said “Funds raised will enable us to maintain momentum on the company’s core programs. Funds will be used to continue proof-of-concept for Proteome Systems’ highly specific diagnostic for prostate cancer and to progress the feasibility studies for a point-of-care diagnostic test for active TB in conjunction with our commercial partner, Becton Dickinson.”

In July, Proteome Systems announced that it had entered into a collaboration and licensing deal with BD (Becton, Dickinson and Company), USA, for the development and commercialisation of tuberculosis (TB) diagnostic tests. Under the terms of this agreement, BD will pay PXL upfront fees and milestone payments for the rights to co-develop and market point-of-care diagnostic products for rapid and cost-effective detection of active TB. PXL would also receive royalties on net sales of tests. PXL’s research indicates that its biomarkers will identify active TB with high efficacy even in immune or otherwise compromised patients, such as those with HIV/AIDS, rheumatoid arthritis or cancer.

For further enquiries, please contact:

Dr. Jenny Harry Chief Executive Officer PH: +61 2 9889 1830

1/35 Waterloo Road, North Ryde Sydney NSW 2113 Australia Locked Bag 2073, North Ryde Sydney NSW 1670 Australia Phone: +61 2 9889 1830 Fax: +61 2 9889 1805 www.proteomesystems.com Proteome Systems Limited ACN 080 277 998