BIOXYNE LIMITED — Capital/Financing Update 2004

Jul 19, 2004

bringing science to wellness"

www.vribiomedical.com.au

The Manager, Companies Announcements Office, Australian Stock Exchange Limited, SYDNEY

Re: Share placement - ASIC Class Order Relief

Dear Sir/Madam.

On 28^th May 2004 the company announced that it had arranged for the placement of 21 million shares at \$0.10 per share to institutional and sophisticated investors. These shares have now been allotted as set out in the Appendix 3B lodged today.

Pursuant to the provisions of Class Order 02/1180, VRI BioMedical Limited confirms that there is no information of the kind that would be required to be disclosed under sub-section 713(5) of the Corporations Act if a prospectus was to be in reliance on section 713 of the Corporations Act. In relation to an offer of the securities described above.

Paul Magoffin Company Secretary. 20th July 2004

VRI BioMedical Ltd

is bringing science to wellness by commercialising a range of products for bealth maintenance and disease prevention, based on robust scientific and clinical research. VRI BioMedical has developed extensive intellectual property in three platform technologies: probinties diagnostics vaccines

VRI BioMedical Ltd ACN 084 464 193 ABN 97 084 464 193 Suite C09, 1 Central Avenue, Australian Technology Park, Eveleigh, Sydney NSW 1430, Australia Phone: +61-2-9209-4268 Fax: +61-2-9209-4256