BIOXYNE LIMITED — M&A Activity 2011

Dec 8, 2011

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Probiomics Limited ABN 97 084 464 193

Date: 9 November 2011

The Australian Securities Exchange Companies Announcements Office Sydney

Suite 1 A, Level 2 802 Pacific Highway Gordon NSW 2072

P: +61 2 9844 5422 F: +61 2 9844 5445 W: www.probiomics.com.au

Dear Sir/Madam

Issue of Bidder's Statement in connection with takeover bid for Hunter Immunology Limited

The Directors refer to an announcement made by the Company on 11 October 2011 headed "Proposed Merger of Probiomics with Hunter Immunology" in which the Company announced its intention that, subject to receiving the necessary shareholder and regulatory approvals, it would make a takeover bid for all the shares and other securities in the capital of Hunter Immunology Limited ( Hunter ), as well as effect a capital raising.

The Directors remain committed to carrying out these transactions.

However, due to certain technical issues that became apparent after the abovementioned announcement was made, the receipt of the necessary waivers from ASX have taken longer than originally anticipated. As a result, the Company will not be in a position to make the actual takeover offers, by means of issuing the Bidder's Statement in relation to the proposed takeover bid, by close of business today (Friday 9 December 2011) - this date effectively being the latest date upon which the Company was required to issue that Bidder's Statement under the provisions of the Corporations Act.

ASIC has agreed to grant relief to the Company to permit the Company a further period of 9 days within which it must dispatch the Bidder's Statement to Hunter securityholders, that is, by no later than Tuesday 20 December 2011.

The Directors are confident that the Bidder's Statement will be issued to all Hunter securityholders and other interested parties on or before that date.

Yours faithfully,

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A Jairath, Company Secretary

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Probiomics Limited ABN 97 084 464 193 Suite 1 A, Level 2 802 Pacific Highway Gordon NSW 2072

P: +61 2 9844 5422 F: +61 2 9844 5445 W: www.probiomics.com.au

Probiomics Limited

Probiomics has proprietary ownership of a unique probiotic strain – PCC[® ]

PCC[®] has been clinically proved to have superior qualities – particularly in promoting systemic immune response.

Probiomics’ commercial objective is to earn royalties from licensing PCC[®] to distribution companies selling products in global markets.