Immuron Ltd — Capital/Financing Update 2010

Apr 18, 2010

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19 April 2010

Company Announcements Office Australian Stock Exchange Limited Sydney NSW

Shareholder Share Purchase Plan

The Directors of Immuron Limited (“Company”) are pleased to announce that the company is making an offer to eligible shareholders to participate in the Company’s 2010 Shareholder Purchase Plan (“Plan”).

Under the Plan, Eligible Members who held Immuron Limited shares at 7.00pm, Melbourne time on 16 April 2010 , will be able to purchase up to $15,000 worth of new fully paid ordinary shares in the Company ("Shares"), being $15,000 less the amount subscribed for shares (if any) a particular Eligible Member was issued pursuant to the Company's 18 June 2009 Shareholder Share Purchase Plan. This offer is irrespective of the number of Shares an Eligible Member currently holds. The Company will be issuing the Shares under ASIC Regulatory Guide 125 and its ASX Listing Rule 7.1 15% allowance.

The issue price for shares offered under the Plan will be 6.5 cents per share , which represents approximately a 20 % discount to the volume weighted average market price of the Company’s shares for the five trading days immediately preceding the announcement of the offer on 16 April 2010 .

The Plan allows Immuron shareholders to acquire the Shares without brokerage or costs which would otherwise apply to a purchase of Shares on the Australian Stock Exchange.

It is proposed that a maximum of 24,000,000 shares will be issued under the Plan although the Directors have an absolute discretion to accept an increased amount or to scale back oversubscriptions on a pro rata basis. The proposed offer of shares under the Plan is not underwritten.

Shareholder approval is not required to issue shares under this Plan. Therefore, Eligible Members are encouraged to act quickly if they wish to participate in the Plan.

Intention of Directors

Each Director holding shares in the Company and residing in Australia intends to take part in the Plan.

Purpose of the Offer

The offer under the Plan is being made to Eligible Members to provide them with the opportunity to acquire shares which will assist in the funding of Research & Development with particular focus on the clinical assessment of oral immunotherapy now underway at the Hadassah Medical Centre in Israel and the development of a influenza preventative treatment both in Melbourne and Jerusalem.

ABN 80 063 114 045 AUSTRALIA Level 1, 39 Leveson Street North Melbourne VIC 3051 Tel (61) 3 9018 4880 Fax (61) 3 9018 4881 www.immuron.com

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Participation

Participation in this Plan is optional. There is no obligation on you to accept the offer under the Plan.

The offer under the Plan is non-renounceable. This means you cannot transfer your right to subscribe for Shares under the Plan to anyone else.

You are an Eligible Member and entitled to participate in the Plan only if you are a registered holder of shares in the Company as at 16 April 2010, with a registered address in either Australia or New Zealand.

Closing Date

The closing date for acceptance of the offer is 5.00pm, Melbourne time on Friday, 28 May 2010, although the Company reserves the right to extend this date.

Based on a closing date of 28 May 2010, the Company expects that Shares will be allotted to shareholders by 4 June 2010 and Holding Statements despatched to applicants by 7 June 2010.

Despatch of invitations

A copy of the invitation to participate in the offer, together with the terms and conditions of the Plan and a personalised Plan application form, will be posted to each Eligible shareholders in the week commencing 19 April 2010.

I look forward to the participation of our shareholders in the offer.

Yours faithfully

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Professor Colin Chapman Chairman

ABN 80 063 114 045 AUSTRALIA Level 1, 39 Leveson Street North Melbourne VIC 3051 Tel (61) 3 9018 4880 Fax (61) 3 9018 4881 www.immuron.com