Immuron Ltd - Interim / Quarterly Report 2008

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28 August 2008

The Company Announcement Office Australian Stock Exchange Limited Sydney

Preliminary Final Report (Appendix 4E) Financial year ended 30 June 2008

In accordance with listing rule 4.3A, we enclose the unaudited Preliminary Final Report (Appendix 4E) on the results of Anadis Limited for the year ended 30 June 2008.

The loss for the year attributable to the members of Anadis Limited was $2,858,337 as against $3,281,236 for the 2007 year.

This letter, and the attached Appendix 4E Preliminary Final Report, form part of the announcement to the ASX Limited.

Yours faithfully Anadis Limited

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Graeme Stevens Company Secretary

USA

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

The Empire State Building 350 Fifth Avenue 59th Floor New York, N.Y. 10118 Tel 646 402 5289 Fax 646 390 3238

www.anadis.com www.travelan.com

Anadis Limited. ABN 80 063 114 045

ASX Preliminary Final Report – 30 June 2008

Appendix 4E - Lodged with the ASX under Listing Rule 4.3A

Contents
Results for Announcement to the Market	3
Preliminary Income Statement	5
Preliminary Balance Sheet	6
Preliminary Statements of Recognised Income and
Expense and Accumulated Losses	7
Preliminary Cash Flow Statement	8
Notes to Preliminary Financial Statement	9
Supplementary Appendix 4E Information	18

Anadis Limited Year ended 30 June 2008 (Previous corresponding period: Year ended 30 June 2007)

Results for Announcement to the Market

				$
Revenue from continuing operations	Up	113.3%	to	319,432
(Loss) from continuing operations
after tax attributable to members	Down	15.6%	to	(2,935,764)
Net (loss) for the period attributable to
members of Anadis Limited	Down	12.9%	to	(2,858,337)

Dividends/distributions	Amount per security	Franked amount per
		security
Final dividend	NIL	NIL
Interim dividend	NIL	NIL
Record date for determining entitle	ments to the dividend	N/A

Record date for determining entitlements to the dividend

Explanation of revenue

The main contributions to the increase in revenues from continuing operations for the year are:

A 92% increase in the volume and value of Travelan sales within Australia, to a total sales value of Initial export of Travelan to South Africa Total Travelan sales for the year Revenue from other products and services Total revenue from goods and services	$ 203,893 34,088 237,981 54,923 292,904

This level of sales in Travelan is very pleasing as there has been considerable expenditure over the past two years in promoting and marketing Travelan as the preferred product for travellers to safeguard against travellers diarrhoea. The company discontinued its involvement in the contract manufacturing of functional food products with the sale of that division in February 2008. Note 5, segment information, indicates the level of other income generated from continuing operations and revenues generated from the discontinued operations, being the contract manufacturing business.

Other income

The company has continued to be successful in obtaining government grants to assist in its various research and development projects. Income from these grants increased by approximately $200,000 during the year and has partially funded the increase in external research and development costs incurred during the year. The company announced in June that it was successful in securing a new grant under the Victoria-Israel Science and Technology Research and Development Fund to the value of $US300, 000 for research into Mucositis therapy.

Explanation of (loss) for year attributable to members of Anadis Limited

In comparing the losses in respect of the 2007 and 2008 year’s we need to allow for some significant items that impacted on the results for each of those years which are summarised as follows:

Loss after tax for year Profit from sale of building Impairment charge in respect of inventories Profit benefit from sale of inventory previously impaired Impairment of receivables Adjusted loss after tax for the year	$’000 $’000 2008 2007 (2,858) (3,281) - ( 330) - 868 ( 182) 390 - -
	(2, 650) (2,743)

The 2008 year has been a transitional year in that the contract manufacturing of health products business was sold in February 2008 and under the new management structure, established an international focus with the establishment of an office in New York and the appointment of a Vice President of Business Development. The company is now focused on adding value to its folio of intellectual property through ongoing research either on its own account or in conjunction with partners who have complimentary expertise in our line of research. In the 2007 year there was a write down of slow moving inventories amounting to $868,000 of which $182,000 was earned as a benefit in 2008 when a portion of the inventories were sold.

Within the profit of $77,427 from discontinued operations in the 2008 numbers there is a significant charge for the non recovery of receivables amounting to $390,000. Of that amount, $375,000 related to one customer who had been placed into Administration. Present indications from the Administrator are that there will be little likelihood of any recovery of that debt.

Anadis Limited Preliminary Income Statement For the year ended 30 June 2008

Notes Revenue from continuing operations 2 Other income 3 Raw materials & consumables used Employee benefits expense Depreciation Research and development – external Factory overheads Directors' fees Travel expenses Product marketing - external Export development Consultants costs Shareholder relations Corporate and administrative expenses Loss before income tax Income tax benefit Loss from continuing operations Profit from discontinued operations Loss for year attributable to members of Anadis Limited Loss per share for loss from continuing operations attributable to the ordinary equity holders of the company Basic earnings per share 7 Diluted earnings per share 7 Loss per share attributable to the ordinary equity holders of the company Basic earnings per share 7 Diluted earnings per share 7	2008 $ 319,432 766,395 (271,032) (1,635,368) (85,339) (784,509) - (217,546) (144,003) (151,723) (73,178) (260,700) (185,151) (481,483) (3,204,205) 268,441 (2,935,764) 77,427 (2,858,337) Cents (2.79) (2.79) (2.72) (2.72)	2007 $ 149,773 896,012 (923,607) (1,887,504) (90,706) (699,814) (15,793) (256,150) (59,351) (151,052) (58,829) (173,435) (140,793) (348,198)
		(3,759,447) 282,524
		(3,476,923) 195,687
		(3,281,236)
		Cents (3.54) (3.54) (3.34) (3.34)

The above preliminary Income Statement should be read in conjunction with the accompanying Notes.

Anadis Limited Preliminary Balance Sheet As at 30 June 2008

Notes ASSETS Current Assets Cash & cash equivalents Trade & other receivables Inventories Other assets Total Current assets Non-Current Assets Property, plant and equipment Investments, accounted for using the equity method 8 Total Non-Current Assets TOTAL ASSETS LIABILITIES Current Liabilities Trade & other payables Provisions Other Total Current Liabilities Non-Current Liabilities Provisions Total Non-Current Liabilities TOTAL LIABILITIES NET ASSETS EQUITY Contributed equity 6 Reserves 6 Accumulated losses TOTAL EQUITY	2008 $ 1,090,824 269,086 161,263 155,441 1,676,614 223,307 31 223,338 1,899,952 630,810 23,956 134,926 789,692 22,944 22,944 812,636 1,087,316 20,583,347 272,896 (19,768,927) 1,087,316	2007 $ 672,643 1,011,406 824,047 145,423
		2,653,519
		642,459 -
		642,459
		3,295,978
		882,339 24,325 405,042
		1,311,706
		63,799
		63,799
		1,375,505

		1,920,473
		18,750,743 80,320 (16,910,590)
		1,920,473

The above preliminary Balance Sheet should be read in conjunction with the accompanying Notes.

Anadis Limited Statement of Recognised Income and Expense For the year ended 30 June, 2008

Notes Net income recognised directly in equity Loss for the financial year Total recognised income and expense for the year	2008 $ - (2,858,337) (2,858,337)	2007 $ - (3,281,236)
		(3,281,236)

Statement of Accumulated Losses

Movements in accumulated losses were as follows: Balance 1 July 2007 Loss for the financial year Accumulated losses 30 June 2008	$ (16,910,590) (2,858,337) (19,768,927)	$ (13,629,354) (3,281,236)
		(16,910,590)

The above Statements should be read in conjunction with the accompanying Notes.

Anadis Limited Preliminary Cash Flow Statement For the year ended 30 June 2008

CASH FLOWS FROM OPERATING ACTIVITIES Receipts from customers (inclusive of goods and services tax) Payments to suppliers and employees (inclusive of goods and services tax) Interest received Grants received R&D tax rebate Interest paid Net Cash (outflow) from Operating Activities CASH FLOWS FROM INVESTING ACTIVITIES Payment for plant and equipment Sale of property Proceeds from maturing debentures Security bond Proceeds from sale of functional foods division Investments in subsidiary and associated companies Net Cash inflow from Investing Activities CASH FLOWS FROM FINANCING ACTIVITIES Proceeds from issue of shares & other equities Share placement cost Net Cash inflow from Financing Activities Net increase/(decrease) in cash and cash equivalents Cash and cash equivalents at beginning of financial year CASH AND CASH EQUIVALENTS AT END OF FINANCIAL YEAR	2008 Inflow/ (Outflow) $ 7,028,000 (9,960,546) (2,932,546) 26,528 519,049 268,441 (4,942) (2,123,470) (14,414) - - - 763,334 (31) 748,889 1,861,950 (69,188) 1,792,762 418,181 672,643 1,090,824	2007 Inflow / (Outflow) $ 4,577,719 (8,691,446)
		(4,113,727) 63,735 772,813 282,524 -
		(2,994,655)
		(17,967) 1,176,000 1,100,000 (25,000) - -
		2,233,033
		- -
		-
		(761,622) 1,434,265
		672,643

The above preliminary Cash Flow Statement should be read in conjunction with the accompanying Notes.

Anadis Limited Notes to preliminary Financial Statements For the year ended 30 June 2008

This preliminary financial report does not include all the notes of the type normally included in an annual financial report. Accordingly, this report is to be read in conjunction with the annual report for the year ended 30 June 2007 and any public announcements made by Anadis Limited during the year in accordance with the continuous disclosure requirements of the Corporations Act 2001.

Note 1 Summary of significant accounting policies

The principal accounting policies adopted in the preparation of the financial report are consistent with those applied in the 30 June 2007 financial report. These policies have been consistently applied to the years presented, unless otherwise stated.

(a) Basis of preparation

This general purpose financial report has been prepared in accordance with Australian Accounting Standards, other authoritative pronouncements of the Australian Accounting Standards Board, Urgent Issues Group Interpretations and the Corporations Act 2001.

(b) Going concern

At 30 June 2008 and 2007, the Company’s cash and investments were $1,090,824 and $672,643, respectively, and for the year ended 30 June 2008 and 2007, the Company experienced operating losses of $2,858,337 and $3,281,236, and operating net cash outflows of $2,123,470 and $2,994,655, respectively. These outflows arose from expenses associated with research and development programs and commercialisation initiatives. As a result of the continuing losses and cash outflows from operations the Directors have assessed the Company's ability to continue as a going concern and to pay its debts as and when they fall due.

The Company's ability to fund its operations is dependent upon obtaining income from the commercialisation of its research and development projects, supplemented by the receipt of funds from various grants, and from the raising of additional capital through new sources of financing. Ultimately, the Company's continuation as a going concern is dependent upon achieving profitable operations through the successful commercialisation of its products and technology.

As a result of the difficulty in predicting the timing and quantum of income from the commercialization of its products and technology, there is significant uncertainty whether the Company will be able to continue as a going concern and realise its assets and extinguish its liabilities in the normal course of business and at the amounts stated in the financial report.

However, the directors are confident that the Company's planned initiatives will be successfully achieved during the next twelve months and provide adequate access to financial resources. The company has had a successful history of obtaining research grants and the Directors are very confident that, along with the ongoing receipts from existing grants, the Company will be successful in obtaining new grants. The directors are also confident of the company’s ability to raise further capital if the need arises. The Company has established a three year $5 million line of credit with Fortrend Small Cap Investors Limited of which $98,800 has been utilised up to 30 June 2008.That facility provides the company with the ability to draw down cash through the issue of equity. The draw downs can be made at monthly intervals but the number of shares that can be issued is restricted by the number of shares on issue combined with the volume of trading and the prevailing share price. The minimum issue price under this facility is $0.15 per share.

Accordingly, the Directors have prepared the financials on a going concern basis. As such, the financial statements do not include any adjustments as to the recoverability and classification of recorded asset amounts or to the amounts and classification of liabilities that might be necessary should the entity not continue as a going concern.

Note 2 Revenue From continuing operations Sales revenue Sale of goods and services Other revenue Interest From discontinued operations Sale of goods Other income Note 3 Other income Net gain on sale of land & buildings Government research & development grants Other government grants			2008 $ 292,904 26,528 319,432 5,444,078 - 5 ,444,078 - 750,143 16,252 766,395		2007 $ 106,839 42,934 149,773 4,142,485 16,500


					4,158,985
					330,396 547,735 17,881 896,012

Government grants

The following government grants were recognised as other income by the Company during the financial year:

• National Food Industry Strategy Ltd. • Dept of Industry, Tourism & Resources • Dept of Prime Minister & Cabinet • AusTrade	117,636 277,828 354,679 16,252
	$766,395

There are no unfulfilled conditions or other contingencies attaching to these grants.

Note 4 Discontinued operations

(a) Description

On 22 February 2008 the company sold its functional foods division. This division operated a manufacturing plant principally for the contract manufacture of third party health food products. The financial results of this division are recorded in the income statement as discontinued operations.

Note 4 Continued

(b) Financial performance

The financial performance information presented, in respect of the 2008 year is for the period 1 July 2007 to date of sale, and for the twelve months ended 30 June 2007.

Revenue Expenses Profit / ( loss) before income tax Income tax expense Profit /(loss) after income tax of discontinued operations Gain on sale of division before income tax Income tax expense Gain on sale of division after income tax Profit from discontinued operations Net cash inflow from operating activities Net cash inflow ( outflow) from investing activities (2008 includes an inflow of $763,334 from the sale of the division) Net cash from financing activities Net increase in cash generated by the division	2008 $ 5,444,078 5,461,804 (17,726) - (17,726) 95,153 - 95,153 77,427 829,610 753,500 - 1,583,110	2007 $ 4,158,985 3,963,298
		195,687 -
		195,687
		- -
		-
		195,687
		45,080 (18,028) -
		27,052

(c) Carrying amounts of assets and liabilities

(c) Carrying amounts of assets and liabilities	(c) Carrying amounts of assets and liabilities
The carrying amounts of the division’s assets and liabilities sold as at the date of the sale, and at 30		June 2007 are:
	2008	2007
	$	$
Plant & equipment, furniture & office machines	304,847	350,257
Inventories	480,144	561,107
Total assets	784,991	911,364
Provision for employee benefits	66,810	62,961
Total liabilities	66,810	62,961
Net assets	718,181	848,403
(d) Details of sale of the division
	2008	2007
	$	$
Consideration received or receivable:
Cash	763,334	-
Additional amount receivable on 22 February 2009	50,000	-
Total disposal consideration	813,334	-
Carrying amount of net assets sold	718,181	-
Profit on sale before income tax	95,153	-
Income tax expense	-	-
Profit on sale after income tax	95,153	-

In the event that the operations of the division achieve certain performance criteria during the period May 2008 to May 2009, as specified in the sale of business agreement, the company is entitled to receive additional cash consideration of up to an estimated $200,000. This amount has not been recognised in the consideration received or receivable in the profit on the sale of the division as the amount cannot be reliably measured at this stage. If this additional consideration is recognised in a future period it will increase the profit from the sale of the division.

Note 5 Segment Information

Business Segment:

During the year the Company operated in two business segments;

the conduct of Research & Development activities, and
the manufacture of health products which consist of the Travelan products, and the contract manufacture of functional food products.

The contract manufacturing business was sold in February 2008 and the operations of that division from 1 July 2007 to date of sale are disclosed as a discontinued operation in the following segment information.

(a) Geographical Segment :

The Company has operated principally in one geographical segment, Australia.

(b) Primary reporting format- business segments

2008 Segment revenue Sales to external customers Interest revenue Other income Total segment revenue Segment result Profit (Loss) before income tax Income tax expense Profit (Loss) for year Segment assets Segment liabilities Other segment information Investments accounted for using the equity method Acquisition of plant & office equipment Depreciation expense Impairment of financial assets – receivables	R & D Hyper Immune Products Other Total Continuing Operations Discontinued Operations Total - 267,904 25,000 292,904 5,444,078 5,736,982 - - 26,528 26,528 - 26,528 750,143 - 16,253 766,396 - 766,396
	750,143 267,904 67,781 1,085,828 5,444,078 6,529,906
	(894,931) (566,688) (1,742,586) (3,204,205) 77,427 (3,126,778) 268,441 - - 268,441 - 268,441
	(626,490) (566,688) (1,742,586) (2,935,764) 77,427 (2,858,337)
	178,144 192,642 1,439,517 1,810,303 89,649 1,899,952
	447,331 12,668 352,637 812,636 - 812,636
	- - 31 31 - 31 272 - 4308 4580 9834 14414 - - 85,839 85,839 41,478 127,317 - - - - 390,000 390,000

Note 5 Continued

Primary reporting format- business segments

The comparative figures for 2007 have been restated to indicate the results of the discontinued operations of the contracting manufacturing business for the year ended 30. June 2007.

2007 Segment revenue Sales to external customers Interest revenue Other income Total segment revenue Segment result Profit (Loss) before income tax Income tax expense Profit (Loss) for year Segment assets Segment liabilities Other segment information Acquisition of plant & office equipment Depreciation expense Impairment of inventories	R & D Hyper Immune Products Other Total Continuing Operations Discontinued Operations Total - 106,839 - 106,839 4,142,485 4,249,324 - - 42,934 42,934 - 42,934 565,616 - 330,396 896,012 16,500 912,512
	565,616 106,839 373,330 1,045,785 4,158,985 5,204,770
	(1,056,533) (1,423,944) (1,278,970) (3,759,447) 195,687 (3,563,760) 282,524 - - 282,524 - 282,524
	(774,009) (1,423,944) (1,278,970) (3,476,923) 195,687 (3,281,236)
	63,019 425,046 804,611 1,292,676 2,003,302 3,295,978
	636,524 93,663 249,318 979,505 396,000 1,375,505
	- - 7,255 7,255 10,712 17,967 - - 90,707 90,707 66,003 156,710 - 868,317 - 868,317 - 868,317

Note 6 Contributed equity and reserves

Note 6 Contributed equity and reserves
(a) Issued and Paid Up Capital 126,732,766 (2007: 98,346,153) ordinary shares fully paid (b) Movements in ordinary share capital Note Date Details 1/07/07 Opening balance 11/07/07 Issue of shares 22/08/07 Issue of shares with attaching option Value attributable to attaching option 18/04/08 Issue of shares for cash Issue of shares to staff in lieu of bonuses Issue of shares to staff under Executive Officer Share Plan 8(a) Issue of shares to directors in lieu of directors fees 8(a) 10/06/08 Issued under shareholder share purchase plan Less costs associated with issuing shares (c)Options reserve Balance of reserve 1 July Value attributable to options attaching to shares Options issued to investors Options issued to employees Balance of reserve 30 June	2008 $ 20,583,347 Number of Shares Issue Price 98,346,153 650,000 $0.152 5,039,361 $0.14 4,692,800 $0.05 526,540 730,770 287,142 16,460,000 $0.05 126,732,766 2008 $ 80,320 65,945 126,631 272,896	2007 $ 18,750,743
		$ 18,750,743 98,800 705,510 (65,944) 234,640 34,225 47,500 24,062 823,000 (69,189)
		20,583,347
		2007 $ 78,205 2,115 80,320

Under the terms of employment contracts with the Chief Executive Officer and the Vice President Business Development, the following options were issued:

4,913,370 options at an exercise price of 33 cents per share
• 4,913,370 options at an exercise price of 43 cents per share

These options vest as to 20% immediately with the remainder vesting in four parcels of 20% through to December 2009. In addition, the above two employees are entitled to additional options upon achieving certain capital raising milestones. These options, if issued, will be equal to 2% of the number of shares on issue at the time the milestones are achieved. The value attaching to the above options using the Black-Scholes valuation model is approximately $337,837, of which $126,631 is included in Employee benefits expense in the income statement.

(d) Movements in options during year Number of options

Issued during year Expired during year Total Option outstanding at 1 July 2007 500,000 Options expiring and not exercised during year Series ANXAD expired 1 November 2007 (100,000) Series ANXAE expired 1 March 2008 (100,000) Options issued during year Series ANXAJ issued 12 July 2007 162,500 Series ANXAI issued 22 August 2007 1,679,787 Series ANZAO issued 1 October 2007 4,913,370 Series ANZAZ issued 1 October 2007 4,913,370 Total movements for year 11,669,027 (200,000) 11,469,027 Total options outstanding 30 June 2008 11,969,027 Expiry date and exercise price for the above options are as follows: Series Number outstanding Expiry Date Exercise Price ANXAF 50,000 1 July 2008 $0.53 ANXAF 50,000 1 July 2008 $0.60 ANXAC 200,000 16 August 2008 $0.62 ANXAJ 162,500 12 January 2009 $0.152 ANXAI 1,679,787 22 August 2008 $0.18 ANXAO 2,456,685 21 November 2010 $0.33 ANXAO 2,456,685 21 November 2010 $0.43 ANXAZ 2,456,685 21 November 2010 $0.33 ANXAZ 2,456,685 21 November 2010 $0.43 Total outstanding 11,969,027	Issued during year Expired during year (100,000) (100,000) 162,500 1,679,787 4,913,370 4,913,370	Total 500,000
		11,469,027
		11,969,027

(e) Standby Subscription Agreement

The Company has entered into an agreement with Fortrend Small Cap Investors Limited for a facility to draw up to $5million by the issue of shares and options. This facility has been utilised to issue 650,000 shares at an issue price of $0.152 per share to raise $98,800 in July 2007.The draw downs are at Anadis’ discretion and the facility is available for a three year period. No issue of shares can occur under this facility if the share price trades at less than an agreed minimum issue price of $0.15 per share for the five days commencing on the day Anadis notifies Fortrend of the intent to draw down.

Note 7 Earnings Per Share
	2008	2007
	Cents	Cents
(a) Basic earnings per share
Loss from continuing operations attributable to the ordinary equity holders of the
company	(2.79)	(3.54)
Profit from discontinued operations	0.07	0.20
Loss attributable to the ordinary equity holders of the company	(2.72)	(3.34)
(b) Diluted earnings per share
Loss from continuing operations attributable to the ordinary equity holders of the
company	(2.79)	(3.54)
Profit from discontinued operations	0.07	0.20
Loss attributable to the ordinary equity holders of the company	(2.72)	(3.34)

Note 7 Continued

(c) Reconciliation of earnings used in calculating earnings per share

(c) Reconciliation of earnings used in calculating earnings per share
Basic earnings per share Loss from continuing operations Profit from discontinued operations Loss attributable to the ordinary equity holders of Anadis Limited used in calculating basic earnings per share	2008 $ 2007 $ (2,935.764) (3,476,923) 77,427 195,687
	(2,858,337) (3,281,236)

There are no reconciling items to the above two loss amounts in calculating the earnings per share.

(d) Weighted average number of shares used as the denominator

	2008	2007
Weighted average number of ordinary shares used as the denominator in
calculating basic earnings per share	105,383,371	98,346,153
Weighted average number of ordinary shares and potential ordinary shares used
as the denominator in calculating diluted earnings per share	105,383,371	98,346,153

(e) Information concerning the classification of securities

Options

Options that have been granted are considered to be potential ordinary shares, however their conversion to ordinary shares does not increase the loss per share, as such the options are not dilutive and have not been included in the determination of diluted earnings per share. The options have not been included in the determination of basic earnings per share.

Note 8 Investments

(a) Details of entities over which control was obtained during the year.

Name of entity:	Anadis ESP Pty Ltd
Date control obtained	2 January 2008
Investment cost	$1.00

This entity is a wholly owned subsidiary of Anadis Limited and was formed for the sole purpose to act as trustee for the Anadis Limited Executive Officer Share Plan Trust. All costs associated with the operations of this company are borne by Anadis Limited.

No shares have been acquired by the Company; however, in accordance with the terms of the Executive Officer Share Plan, Anadis Limited issued the following shares to Directors and officers of the Anadis during the financial year. All of these shares are registered in the name of Anadis ESP Pty Ltd as trustee for the particular officer of Anadis. Those shares can only be transferred into the name of the individual officer in accordance with the terms of the Plan.

At 30 June 2008 the following shares were registered in the name of Anadis ESP Pty Ltd.

730,770 shares issued to four officers of Anadis Limited at an issue price of $0.065 per share.
287,142 shares issued to Directors in lieu of Directors fees, as agreed at the 2007 Annual General meeting, at an issue price of $0.0838 per share.

Note 8 Continued

(b) Investment in Associate Company

Name of associate company: Immuron Ltd Percentage holding : 50% of issued ordinary shares

The other 50% shareholder is Hadasit Medical Research Services & Development Ltd. The company is incorporated in Israel and was formed as a special purpose vehicle to apply for specific research grants. No grants have been obtained up to 30 June 2008. Expenses associated with the establishment of the company and certain costs associated with grant applications have been borne directly by the two shareholders up to 30 June 2008.

Note 9 Events occurring after balance sheet date

Expiry of options

Since 30 June the following options expired with no options being exercised.

	Number	Expiry date
ANX AF	100,000	1 July 2008
ANXAC	200,000	16 August 2008
ANX AI	1,679,787	22 August 2008

Note 10	NTA Backing
		2008	2007
Net tangible asset backing per ordinary share		$0.008	$0.02

Anadis Limited Supplementary Appendix 4E information

Annual Meeting

The annual meeting will be held on Wednesday 19 November at the offices of PricewaterhouseCoopers, Freshwater Place, 2 Southbank Boulevard, Melbourne.

Audit

This preliminary final report is unaudited.

The Audit Report will be made available with the Company’s financial report at a later date.