GENETIC TECHNOLOGIES LIMITED — Capital/Financing Update 2004

Jun 27, 2004

28 June 2004

The Manager Company Announcements Office Australian Stock Exchange Limited Exchange Centre 20 Bridge Street Sydney NSW 2000

Dear Sir.

GTG Grants License to Ovita, New Zealand.

GTG is pleased to report further success in granting licenses to the non-coding patents - this time to Ovita Limited, of Dunedin, New Zealand.

This is now the second license granted by GTG in New Zealand.

Earlier this month, we reported that the GTG subsidiary, AgGenomics had signed a contract with Ovita to provide genetic testing services on DNA samples from Australian and New Zealand sheep, at the AgGenomics high-throughput DNA laboratory, at La Trobe University, in Melbourne.

We are delighted to report GTG has now also granted to Ovita a license to apply the GTG non-coding patents to their own internal activities - both in relation to their research projects and also their future commercial activities.

Ovita will now pay to GTG an up-front signing fee, and royalties on their future commercial sales.

GTG will continue to support the growth and future success of Ovita, by also offering licenses to Ovita's research partners and also to Ovita's commercial collaborators.

GTG similarly stands ready to offer its assistance and technology to other New Zealand organisations, to support the efficiency and quality of New Zealand's agricultural output.

Yours faithfully,

Dr Mervyn Jacobson Executive Chairman