Immuron Ltd — Regulatory Filings 2003

Oct 27, 2003

October 28th 2003

Company Announcements Office Australian Stock Exchange Ltd (ASX) 4^th Floor, 20 Bridge Street SYDNEY NSW 2000

Dear Sir/Madam

Please find herewith a company announcement "Clinical Trial Results" for release and distribution to the market immediately.

Yours sincerely

CONOR GRAHAM

Managing Director & CEO

Results of Anadis clinical trial, great news for gastritis sufferers.

A clinical trial at Melbourne's Alfred Hospital has shown that products based on colostrum extracts, as developed by Anadis Ltd, are of benefit to patients suffering from gastritis associated with the bacterium, H. pylori.

H. pvlori is associated with the development of most duodenal and gastric ulcers and in addition some forms of gastric cancer and lymphoma. Patients participating in this trial were suffering from non-ulcer dyspepsia with symptoms of nausea, abdominal discomfort/pain and bloating. Those that received the Anadis product showed significant relief in symptoms and a reduction in $H$ , pylori infection.

Based on these trial results Anadis plans to launch an over-the-counter nutraceutical product for gastritis relief. The product, to be sold under the name Pyloran, will initially be aimed at markets in Asia. Anadis CEO, Conor Graham, commented that "Pyloran is an exciting addition into Anadis's Nutraceuticals for Asia Program."

Anadis believes that a natural product such as Pyloran is a safe and effective addition to the multi billion dollar, conventional pharmaceutical treatments market, for H. pylori gastritis.

The Alfred Hospital trial underpins a continuing Pyloran R&D program by Anadis, to develop further products for sufferers of gastro-intestinal problems.

For further information contact:

Dr. Grant Rawlin – General Manager Research & Development Or Mr. Arie Nudel - Investor Relations