BIOXYNE LIMITED — Capital/Financing Update 2007

Oct 9, 2007

Probiomics Limited ABN 97 084 464 193

Suite G09, 1 Central Avenue Australian Technology Park Eveloigh NSW 1430

P: +61 2 9209 4268 F: +61 2 9209 4256 W: www.problomics.com.au

The Australian Stock Exchange Limited, Companies Announcements Office SYDNEY

10 October 2007

issue of Convertible Note

Probiomics Limited has raised \$600,000 by way of a one year convertible note with a 10% coupon. The conversion price of the note is 4 cents per share. Conversion into ordinary shares will be subject to AGM shareholder and regulatory approval and the monies committed have been from sophisticated, existing shareholders of Probiomics Limited.

The funds will be used for working capital.

Yours sincerely,

A Jairath, Company Secretary