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COGSTATE LTD Capital/Financing Update 2007

Jul 12, 2007

64644_rns_2007-07-12_32aa3b57-9139-47b4-93ab-0929644a1927.pdf

Capital/Financing Update

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CogState Ltd ABN 80 090 975 723

Level 7 21 Victoria Street Melbourne Vic 3000 Australia

ASX Announcement

Melbourne, 13 July 2007

CogState Signs Second Agreement with GlaxoSmithKline

CogState Ltd (ASX:CGS) announced today that it is has signed a second contract with global research-driven pharmaceutical company, GlaxoSmithKline, for the use of CogState’s cognitive testing technology and associated services in a clinical trial due to start this year.

Mr Brad O’Connor, Chief Executive Officer of CogState, said: “CogState’s continued revenue growth is dependent upon our ability to work with our pharmaceutical company customers on an on-going basis. We are extremely pleased to be announcing this contract with GlaxoSmithKline, especially on the back of the recent announcement regarding a second contract with Merck.”

About CogState

CogState Ltd (ASX: CGS) specialises in the development and commercialisation of rapid, computerised tests of cognition (brain function). The tests are sold to pharmaceutical, biotechnology, nutraceutical and functional food companies to quantify the effect of drugs or other interventions on human subjects participating in clinical trials.

Since sales into the clinical trials market began in 2004, CogState has secured agreements with organisations including Pfizer, Merck, Centres for Disease Control (USA), ALZA Corporation (a member of the Johnson and Johnson group), Organon USA and GlaxoSmithKline. CogState is currently expanding its existing activities in the US clinical trial markets.