HOLISTA COLLTECH LIMITED — Capital/Financing Update 2007

Oct 28, 2007

ASX/ MEDIA RELEASE: 29 OCTOBER 2007

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COLLTECH AUSTRALIA LIMITED (ASX CODE: CAU)

INDIAN PARTNER FOR OVICOLL[®] SIGNS

• CAU signs LETTER OF INTENT with Yasham Bioscience a subsidiary of diversified Indian company Yasham Group

• Indian cosmetic and toiletries market valued at USD950 million growing at 20% per annum

• Fast Track promotion of OVICOLL[®] planned

CollTech is pleased to announce the finalisation of a LETTER OF INTENT (‘LOI’) with Yasham Bioscience, the subsidiary of diversified Indian company Yasham Group (www.yasham.in). The LOI will see CollTech’s unique sheep sourced collagen on a fast track rollout in the highly lucrative Indian cosmetics market.

Yasham Bioscience in conjunction with CollTech will market OVICOLL[® ] immediately and aggressively including at next month’s “In-Cosmetics India”, the largest cosmetics ingredients show in India.

The Indian cosmetic and toiletries market is valued at USD950 million and is growing at 15%-20% per year. Collagen is seen as a proven performer in the cosmetics sector and CollTech’s sheep sourced collagen provides cosmetic manufacturers in India with a significant competitive edge.

CollTech’s General Manager Dr. Deborah Cooper said “OVICOLL[®] continues to receive significant interest from major cosmetic distributors and manufacturers. This illustrates the competitive strengths of OVICOLL[®] in the eyes of the market that see the products’ superior moisturising capability and range of uses as key to capturing the value in emerging consumer trends globally”.

Sales Director Glenn Smith remarked “OVICOLL[®] has now entered nine key markets globally via various agreements or direct sales. India is a significant market that will allow CollTech to drive sales of OVICOLL[® ] forward through 2008. We are delighted to have Yasham Bioscience as our strategic partner in India”.

The LOI provides for the parties to finalise negotiations towards a full distribution agreement and conclude the official requirements to allow importation of OVICOLL[®] into India whilst commencing initial marketing activities.

End

CONTACT INFORMATION

For more information:

Deborah Cooper General Manager P +618 9426 3900 (Australia) Glen Brune CFO/Company Secretary +800 COLLTECH (International) Glenn Smith Sales Director F +618 9426 3909 E investors@colltech.com.au W www.colltech.com.au

ABOUT COLLTECH

CollTech Australia Limited (ASX: CAU) is an Australian listed bio-industrial company specialising in the development and commercialisation of ovine collagen products. CollTech’s Australian-produced OVICOLL[®] ovine collagen is a safe and culturally acceptable collagen source that is fully traceable and unaffected by the issue of Mad Cow Disease. The company currently markets OVICOLL[®] |C and OVICOLL[®] |Clear for cosmetic applications and has several products in development for research and medical applications.

CollTech Australia Ltd ABN 24 094 515 992 G/ 76 Kings Park Rd West Perth WA 6005 Australia PO Box 1264 West Perth WA 6872 Australia

P +618 9426 3900 F +618 9426 3909 W www.colltech.com.au E sales@colltech.com.au Sales +618 9426 3999 Freecall +800 COLLTECH .Mon-Fri 8:30-5:00 GMT +8:00 ®Registered trademark of CollTech Australia Ltd│ASX - India LOI