AVECHO BIOTECHNOLOGY LIMITED — Director's Dealing 2009

Oct 4, 2009

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5 October 2009

THE MANAGER COMPANY ANNOUNCEMENTS OFFICE ASX LIMITED

Dear Sir

re : PHOSPHAGENICS LIMITED

CHANGE OF DIRECTOR’S INTEREST NOTICE

MR M R D ASHTON

Attached for release to the market is an Appendix 3Y Notice advising of an increase in the entitlement of Mr Ashton to the Company’s ordinary fully paid shares. Such change in interest occurring on Monday 5 October 2009 and arises from his participation in the Phosphagenics Limited Share Purchase Plan offering to shareholders in August at 9.2 cents a share and allotted on 5 October 2009.

Yours faithfully Phosphagenics Limited

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per Mourice Garbutt Company Secretary poh\asx\3y ma 05 10 09

Phosphagenics Limited

ACN 056 482 403 ABN 32 056 482 403

11 Duerdin Street, Clayton Victoria 3168 Australia Telephone: +61 3 9565 1119 Facsimile: +61 3 9565 1151 Web : www.phosphagenics.com Email: info@phosphagenics.com

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 PHOSPHAGENICS LIMITED ABN 32 056 482 403

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 ASHTON, Michael Richard Dwyer

Date of last notice 8 July 2008 (Appendix 3X)

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	REFER ANNEXURE “A”
Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.	REFER ANNEXURE “A”
Date of change	REFER ANNEXURE “A”
No. of securities held prior to change	REFER ANNEXURE “A”
Class	REFER ANNEXURE “A”
Number acquired	REFER ANNEXURE “A”
Number disposed	NOT APPLICABLE
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	REFER ANNEXURE “A”
No. of securities held after change	REFER ANNEXURE “A”
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	REFER ANNEXURE “A”

• See chapter 19 for defined terms.

11/3/2002

Appendix 3Y Page 2

Appendix 3Y Change of Director’s Interest Notice

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	NOT APPLICABLE
Nature of interest	NOT APPLICABLE
Name of registered holder (if issued securities)	NOT APPLICABLE
Date of change	NOT APPLICABLE
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	NOT APPLICABLE
Interest acquired	NOT APPLICABLE
Interest disposed	NOT APPLICABLE
Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	NOT APPLICABLE
Interest after change	NOT APPLICABLE

5 October 2009

• See chapter 19 for defined terms.

11/3/2002

Appendix 3Y Page 3

APPENDIX 3Y Annexure “A”

5 October 2009

SCHEDULE OF DIRECTORS INTERESTS

PHOSPHAGENICS LIMITED

ASX CODE	PREVIOUS Appendix 3X (05 07 08)	PRESENT Appendix 3Y (05 10 09)
	SHARES	SHARES
	POH	POH
Name of Registered Holder(s)
Michael Richard Dwyer ASHTON	100,000	263,043
TOTAL ENTITLEMENTS:	100,000	263,043
Total Issued Securities	663,542,406	739,696,509
Percentage Entitlements	0.0151%	0.035%

COMMENTS:

• 1 Mr Ashton is legally and beneficially entitled to the 263,043 ordinary fully paid Phosphagenics Limited shares registered in his name in the Register of Members.

• 2 Mr Ashton, as an eligible shareholder as at the Record Date participated in the Phosphagenics Limited Share Purchase Plan offering to shareholders in August 2009 at 9.2 cents a share and as allotted on 5 October 2009.

poh\asx\3y ma 05 10 09