Immuron Ltd — Regulatory Filings 2004

Jul 20, 2004

July 21st 2004

Company Announcement Office Australian Stock Exchange Ltd (ASX) $4^th$ Floor, 20 Bridge Street Sydney NSW 2000

Dear Sir/Madam

Please find herewith a company announcement "Strategic Share Placement" for release and distribution to the market immediately.

On Behalf Of ANADIS LIMITED

CONOR GRAHAM Managing Director & CEO

STRATEGIC SHARE PLACEMENT

The directors of Anadis Ltd (ASX:ANX) are pleased to announce that the company will raise \$4.25 million by way of a private share placement.

Anadis will issued Ten Million Nine Hundred Thousand (10,900,000) new fully paid ordinary shares at a price of Thirty Nine cents (39c) to Tatura Milk Industries and sophisticated investor Paracroft Pty Ltd: Anadis' existing largest shareholder. This issue price represents a discount of 5% to the Anadis share closing price on the ASX on Friday July $16^th$ , 2004. The total number of shares placed is 10,100,000 to Tatura Milk Industries and 800,000 to Paracroft Pty Ltd representing a total of 13.35% of Anadis' existing issued capital.

As the placement was directly made by Anadis no commissions or placement fees have been required to be made and as such Anadis will receive the full amount of all monies raised.

Anadis CEO Conor Graham, is delighted that our business partner, Tatura Milk Industries, with whom we have recently formalised a strategic alliance, has decided to become a major shareholder. This further strengthens the important linkage between Anadis Ltd and Tatura Milk Industries.

The placement has been completed with two objectives: firstly, to further cement the strategic alliance between TMI and Anadis, which ensures, amongst other benefits, that Anadis has access to high quality supplies of specialized colostrum antibodies, and secondly; to ensure Anadis continues to have solid cash position for its current, and future, endeavours.

The funds raised further add to Anadis' already good financial position, and with the company's current operational cash burn rates falling, these funds will be focused on the further commericalisation of Travelan and scale up for the production of other research based products coming through our development pipeline.

For Further Information Contact:

Conor Graham – Managing Director & CEO or Arie Nudel – Investor Relations

Tel: 03 9358 6388	Fax: 03 9358 6399
Emails: conor.g@anadis.com.au	$arie.n(\hat{\alpha})$ anadis.com.au