ASSOCIATE GLOBAL PARTNERS LIMITED — Capital/Financing Update 2009

Jul 30, 2009

ASX Announcement

Tyrian Diagnostics Limited ACN 080 277 998

Company Announcements Office Australian Stock Exchange

For Immediate Release

TYRIAN ANNOUNCES RENOUNCEABLE RIGHTS ISSUE TO RAISE $5MILLION

SYDNEY, Australia 31 July 2009 Tyrian Diagnostics Limited (ASX:TDX) is pleased to announce the details of a 1:1 renounceable rights issue (the Offer ) to raise approximately $5million. The Offer is fully underwritten by Patersons Securities Limited.

Tyrian is offering eligible shareholders the opportunity to acquire new shares at $0.02 each, on the basis of one new share for every share held. Participants in the Offer will also receive one attaching option for every four new shares acquired, with an exercise price of $0.03 expiring on 31 December 2010. Eligible Shareholders may apply for additional shares over and above their entitlement.

The purpose of the Offer is to raise capital to fund the Company’s development and commercialisation of its pipeline of diagnostic products.

“We have already made significant progress in implementing our business strategy and these funds will allow us to expand development of our portfolio of DiagnostIQ products to grow a recurring revenue stream” said Dr Jenny Harry, CEO.

The offer price of $0.02 represents a 33.3% discount to Tyrian’s closing price on 28 July 2009 and a 31% discount to the one month volume-weighted average price.

The rights to participate in the Offer are renounceable and may be sold on the ASX or to third parties. Full details of the Offer can be found in the prospectus, which was lodged with ASX today, and will be despatched to eligible shareholders in accordance with the timetable below.

Important Dates

Anticipated key dates for the Offer are set out below. These dates are indicative only and may be changed subject to the Corporations Act 2001 (Cth) and ASX Listing Rules.

Event	Date
Announcement of Offer and lodgement of Prospectus and Appendix 3B	31 July 2009
Rights trading commences	5August2009
Ex-date (shares tradewithout entitlement to participateinOffer)	5August2009
Record date for determining entitlements (7.00pm AEDST)	11 August 2009
Despatch of Prospectus and Entitlement & Acceptance Form	12 August 2009
OfferOpeningDate	12 August2009
Rights Trading Ceases	19 August 2009
Offer Closing Date	26 August 2009
Issue &AllotmentDate	3 September 2009
Despatchof holding statements	3 September 2009
Commencement of trading of new shares on ASX	4 September 2009

1/35-41 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.tyriandx.com Proteome Systems Limited ACN 080 277 998

About Tyrian Diagnostics Limited

Tyrian Diagnostics (ASX: TDX) is an Australian-based company which develops and commercialises rapid point-of-need diagnostics for clinical and non-clinical applications. Tyrian has developed an innovative and proprietary diagnostic test platform, DiagnostIQ, comprising a patented disposable test device which can be used alone or with the DiagnostIQ Reader. Tyrian also has expertise in discovering and developing biomarkers of disease as targets for diagnostic tests, particularly in respiratory and infectious diseases. Tyrian’s product pipeline currently includes two agricultural diagnostic tests in partnership with Bayer CropScience AG, a point-of-care test for TB in collaboration with BD and a proprietary molecular TB test.

Contacts

Tyrian Diagnostics

Dr Jenny Harry (02) 8877 8947

Patersons Securities Limited Ray Shorrocks (02) 8238 6201

1/35-41 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.tyriandx.com Proteome Systems Limited ACN 080 277 998