CONSTELLATION TECHNOLOGIES LIMITED — Earnings Release 2003

Nov 19, 2002

AGENIX LIMITED Level 9 123 Esping Road North Ryde NSW 2113 Tel: (612) 8875 7898 Fax: (612) 8875 7897

ASX Announcement

Agenix Quarterly Revenue up 12% Agen Strong, Milton Now Cash Positive, Chairman tells AGM

Wednesday 20 November 2002

Brisbane-based biotechnology company Agenix Ltd [ASX:AGX] today announced a 12% increase in aroup revenue, to \$9 million, for the first quarter of financial year 2003.

Blood clot diagnostic subsidiary AGEN continued to exceed expectations with a substantial increase in the quarterly revenue to \$4.1 million, up 18% on last year's first-quarter figure (\$3.5 million). First quarter pre-tax profit for AGEN was \$1 million, up from \$900,000 in the first quarter of 2002. This was after deducting all expenditure on blood clot imaging project ThromboView®. Without this expenditure profit would have been \$1.5 million, up 31% on last year's \$1.1 million.

Milton Pharmaceuticals' revenue increased 7% to \$4.7 million from \$4.4 million. Excluding the sales associated with discontinued powder products, revenue increased 17% to \$4.1 million from \$3.5 million. Milton Pharmaceuticals broke even for the quarter, but generated a cash operating surplus.

"Both divisions are growing and will meet our expectations for this year.," said Agenix Chairman, Mr Ravindran Govindan, at the company's Annual General Meeting in Brisbane today. "We are on track to return Milton to being a profitable cash producing enterprise."

Last month Agenix announced it would proceed shortly to human trials for its blood clot imaging project ThromboView®. The trials are scheduled to begin early next year and are planned to be finished in November 2003. The company has manufactured sufficient clinical reagent derived from its proprietary humanised monoclonal antibody to complete the trials.

Expenditure on ThromboView® was \$500,000 for the quarter, up from \$200,000 for the corresponding period in 2002. "This reflects the increased activity as the project proceeds on-course for the first human injection early next year," said Mr Govindan.

The Phase Ia trial will test ThromboView® in a group of healthy volunteers. Doctors will determine the safety of the product, as well as collecting information about how the drug is distributed in the body.

The ThromboView® technology is designed to improve the diagnosis and treatment of Deep Vein Thrombosis (DVT) and Pulmonary Embolism (PE) through a superior method of blood clot detection. For more information contact:

Don Home CEO Agenix Ltd Ph: 0438 500 255

Jeff Carter CFO Agenix Limited Ph: 0419 414 901

Agenix Limited [ASX:AGX] is a listed Australian-based company. It manufactures, distributes and markets human and veterinary diagnostic test kits, over-the-counter pharmaceuticals and infant care products via its fully-owned subsidiaries AGEN Biomedical and Milton Pharmaceuticals. Agenix focuses on developing a horizontally integrated product portfolio to service the needs of the acute phase thrombosis market. Agenix's lead candidate is its high-technology ThromboView® blood clot-imaging project, which uses radiolabelled antibodies to locate blood clots in the body. This could revolutionise the \$US 3 billion annual clot diagnostic imaging market. Agenix employs 190 staff and sells its products to more than 50 countries.

www.agenix.net