HOLISTA COLLTECH LIMITED — Capital/Financing Update 2008

Jun 10, 2008

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ASX/ MEDIA RELEASE: 11 JUNE 2008

PROPOSED ISSUE OF OPTIONS TO DIRECTORS

CollTech Australia Limited wishes to advise that in accordance with a remuneration review of the Board of Directors and subject to shareholder approval at the next General Meeting, it proposes to issue ordinary share options under the Employee Share Option Plan, to:

• Mr Stephen Carter - Chairman

• Mr Michael Pixley – Non-executive Director

• Dr Fathil Bin Mohamed – Non-executive Director

• Mr Ravindran Govindan – Non-executive Director

2,000,000 2,000,000 2,000,000 2,000,000

This proposed issue of options will give recognition of the value that will be derived from each Director’s experience and expertise and contribution to the Company through its Board in addition to being a performance incentive to increase shareholder value in the future.

• The details of this proposed issue are as follows:

• Class of securities to be issued

• Number of securities to be issued

• Principal terms of securities

• Vesting

• All options expire

• Consideration

• Purpose of issue

• Shareholder approval

• Status

• Ordinary share options

• 2,000,000 each (8,000,000 in total)

• Exercise price 4 cents

• Fully vested on date of issue

• Three years following date of grant

• Nil

• As a performance incentive

• To be sought at the next general meeting - Unlisted

End

CONTACT INFORMATION

For more information:

Glen Brune Deborah Cooper

CFO/Company Secretary General Manager

P +618 9426 3900 (Australia) 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 Australianproduced 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 OVICOLL[®] |R for research applications and will release OVICOLL[®] |M for medical applications in late 2008.

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│080611 - ASX Issue Options to Directors