BTC HEALTH LTD — Net Asset Value 2012

Jul 1, 2012

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02 July 2012: Net Tangible Asset (NTA) Backing – June 2012

30 June 2012	30 June 2012	Cost Price	Cost Price	Board Valuation1
Company	ASX Code	Cost Price Cents per BTC share		Current Value Cents per BTC share*
UNLISTED SECURITIES 1 Biocomm 2 Generic Health 3 Sensear General Provision TOTAL UNLISTED SECURITIES Cash		1,235,701 $ 1.66c 2,200,000 $ 2.95c 3,116,761 $ 4.18c 0.00c		1,235,701 $ 1.66c 2,200,000 $ 2.95c 3,338,984 $ 4.48c 2,723,668 -$ -3.65c
		6,552,463 $ 8.79c		4,051,017 $ 5.43c
		876,888 $ 1.18c		876,888 $ 1.18c
Tax Provision		- $ 0.00c		- $ 0.00c
TOTAL		7,429,351 $ 9.97c		4,927,905 $ 6.61c

1 Board Valuation as defined by BioTech Capital's Investment policy including provision for tax

BioTech Capital issued capital: Ordinary Shares 74,554,108

Commentary - activities during the last month

The entire holding in ASX-listed Neurodiscovery Ltd was disposed of at a price of 2.5 cents per share.

Valuations

The “Board Valuation” column is based upon the investment policy of the Board and is broadly in line with industry standard practices.

About BioTech Capital Ltd

BioTech Capital Ltd (“BTC”) is a listed investment fund currently conducting an orderly wind-down of its holdings pursuant to a change in investment activity approved by shareholders in 2010. As a registered Pooled Development Fund (PDF), investors are generally exempt from tax on capital gains and income. BTC is listed on the Australian Stock Exchange (Code: BTC). Additional information can be found at www.biotechcapital.com.au

Contact Information

Harry Karelis, Director, Biotech Capital Ltd, Ph: +61 413 056 328, E-mail: hkarelis@titancapitalpartners.com.au

Biotech Capital Limited ABN 45 091 979 172 www.biotechcapital.com.au

1 Edmondson Crescent T +61 413 056 328 Karrinyup WA 6018 F +61 8 9327 1778 Australia