Immuron Ltd — Regulatory Filings 2004

Jun 23, 2004

June 24th 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 "Major Supply Contract Signed" for release and distribution to the market immediately.

On Behalf Of ANADIS LIMITED

CONOR GRAHAM Managing Director & CEO

MAJOR SUPPLY CONTRACT SIGNED

Anadis Limited proudly announces today the signing of a major agreement with Tatura Milk Industries (TMI) that ensures the supply of large quantities of specialised colostrum antibodies on the eve of the launch of Anadis' first healthcare product, Travelan - The World's First Preventative Product For Travellers' Diarrhoea.

The strategic alliance between Anadis and TMI that began in May 2003 has now been formalized with the signing of a contractual agreement between the two companies. This new agreement ensures that Anadis has access to a large dairy herd for the collection of colostrum derived antibodies, and the facilities required for the manufacture of Travelan and other Anadis products.

Under the Agreement Anadis has:

• "Right of First Call" over all colostrum that TMI collects. This ensures that as more Hyper-immune Colostrum (Colostrum from cows that have been immunized with Anadis' patented vaccines) is required, the supply base will be available for this production.
• Access to large scale production facilities at TMI, particularly large scale microfiltration and freeze-drying capacity for the processing of large quantities of antibodies.
• Become a party to the "Anadis Tatura Innovation Engine Room (ATIER)", a research committee to co-develop new products for Australia and overseas. In particular the group will be focused on Functional Foods and Nutraceuticals.

This agreement represents a major milestone for the commercialization of Anadis products, which has already commenced with the collection and manufacture of Travelan. At TMI.

TMI is a co-operative dairy company based in the Goulburn Valley in Victoria, that processes about half a billion litres of milk each year, from more than 400 regional dairy farms, into value added dairy products, including cream cheese, infant formula, specialised powders, and dairy proteins and bio-actives. These are sold locally as well as exported overseas, mainly to Asia.

The TMI herd is made up from over 400 dairy farms, each with an average of over 200 cows. TMI historically has a record of the highest payment to farmers for their milk and has been able to maintain this record by being at the forefront of innovative dairy product manufacture.

Additionally, Anadis is also pleased to announce that we have now officially received HACCP registration under the internationally recognized CODEX standard, although the manufacturing facility has been HACCP compliant for some time under state and federal government requirements. HACCP (Hazard Analysis and Critical Control Point) recognizes and addresses all issues of food production relating to Quality, Risk Assessment and Control as well as Food Safety for local and overseas markets.

In addition, GMP (Good Manufacturing Practices) certification was achieved; thus providing Anadis with a respectable assemblage of credibility and accountability systems. Such registration status is sought after and required by leading food companies around the world.

Anadis Ltd, is a Melbourne based biopharmaceutical company, focusing on Nutraceutical and Pharmaceutical products derived from bovine colostrum. Anadis is releasing Travelan into the Australian market in early July 2004, the first ever Travelers Diarrhea preventative. Travelan has been proven in hospital clinical trials to significantly decrease the risk of Travelers Diarrhea and the symptoms of gastrointestinal disorders. Travelan is prepared from bovine colostrum, from cows hyper-immunized a gainst 14 strains of E.coli – the most common cause of Travelers Diarrhea and Travelan works through the process of passive immunity transfer.

Other Anadis projects include Pyloran, which has been clinically proven to reduce infection and symptoms of gastritis and gastric ulcers; and EV71, a project funded by the Taiwanese government against Enterovirus 71, an emerging disease with polio-like symptoms. Bio-Shield 10 a range of "bio-shielding" technologies that protect delicate molecules, enzymes and proteins, initially targeted for use in the pro-biotic market, and Respiratory Protection technologies, a project in conjunction with the Australian and US military, initially focused on short-term immediate protection from airborne bacteria such as Anthrax and Plague, future applications possibly with Hay Fever and Asthma. Anadis is in early development of a H.pylori vaccine.

Anadis - Delivering On The Promise Of Biotechnology

For more information please contact: Anadis Limited

Conor Graham - Managing Director & CEO or Arie Nudel - Investor Relations Telephone: $+61393586388$ , Facsimile: $+61393586399$ Email: conor.g@anadis.com.au or arie.n@anadis.com.au

Tatura Milk Industries Limited

Jeff Martin - Managing Director & Chief Executive Telephone: $+ 613\overline{)}58246200$ , Facsimile: $+ 613\overline{)}5824\overline{)}2534$ Email: jeffmartin@tatmilk.com.au