Immuron Ltd — Regulatory Filings 2005

Nov 30, 2005

December 1st, 2005

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 "Canadian Distributor Appointed" for release and distribution to the market immediately.

Yours sincerely

CONOR GRAHAM Managing Director & CEO

Canadian distributor for Travelan appointed.

Anadis (ASX:ANX) has appointed Canadian pharmaceutical distributor Baralex Inc. / Valeo Pharma with the signing of a Heads of Agreement between the two companies. This agreement will see the distribution of Anadis' lead product Travelan into the Canadian market.

With Travelan already in the final stages of Canadian registration, it is anticipated that both registration and a final distribution agreement with Baralex Inc. /Valeo Pharma should be completed by January 2006. First sales of Travelan into the Canadian market is anticipated to begin February/March 2006.

Importance of the Canadian Market

The Canadian market is approximately 30% larger than Australia (approximately 30 million people) with a large number of "Snow Bird" travellers (those flying away from the cold to somewhere warmer). Popular Snow Bird destinations include Mexico, The Caribbean and Latin America.

The choice of travel destinations makes this market an important indicator for Travelan in the US market – with the recent "Green Light" to market Travelan in the US (see announcement $12^th$ October) this is an important step into this much larger market place (approximately 10 times Australia – with over 22 million travellers per annum to "highrisk" destinations).

Why Valeo Pharma Inc.

Anadis has chosen Valeo Pharma Inc. as the distributor for Travelan in the Canadian market due to its success in acquiring and marketing OTC and prescription products in Canada. Valeo Pharma has a proven track record in the management of distribution and commercialisation responsibilities for third party products.

Valeo Pharma have the experience and ability to successfully and aggressively promote products through targeted innovative marketing and sales activities, with their strategies focusing on strengthening trade commitment and increasing brand awareness among physicians, pharmacists and other healthcare professionals.

Anadis acknowledges the importance of a company such as Valeo Pharma Inc. desiring to add a product such as Travelan to its product offering.

Travelan and Travellers' Diarrhoea

Travelan – Anadis' lead product – is a revolutionary over-the-counter (OTC) preparation scientifically and clinically proven to significantly reduce the risk of getting the medical

condition known as Travellers' Diarrhoea (otherwise known as Delhi Belly, Montezuma's Revenge, Tourist Trots and The Flux etc). Travellers' Diarrhoea is described as the number one health problem for international travellers, in terms of frequency and economic impact. Travellers' Diarrhoea is normally accompanied by other clinical features such as nausea, bloating, abdominal cramps and fever. Travelan is based on antibody technology and not an antibiotic preparation. Unlike conventional treatment medications. Travelan significantly reduces the risk of being affected in the first instance.

Additional International opportunities for Travelan

Anadis has recently been given a "green light" to sell Travelan in the US (see announcement Travelan receives Green Light to enter US market - $12^{th}$ October 2005), and is currently in discussions with prospective partners in the US market to begin sales of Travelan at the earliest opportunity.

Anadis is in the process of negotiating other international distribution and registration arrangements for Travelan in markets including Singapore, Hong Kong, India, Thailand, Taiwan, Malaysia, United Kingdom and Europe.

Anadis is on schedule to begin international sales early in the second half of this financial year (pending successful registration).

For more information about Travelan visit www.travelan.com.au

About Valeo Pharma Inc. & Baralex Inc.

Valeo Pharama Inc. is a Canadian specialty pharmaceutical company that acquires branded pharmaceutical products from partners. Valeo Pharama strives to provide niche patient populations and consumers with quality OTC (over the counter) and prescription products that meet their needs.

Valeo Pharma acquires mature brands that continue to provide sought-after therapeutic benefits as well as innovative or promising late-stage development products. Visit www.valeopharma.com for more information.

BARALEX*

Baralex Inc. is a privately owned international distributor supplying the pharmaceutical and nutraceutical industries with the finest quality active ingredients. Baralex adheres to the

(Canadian) Good Manufacturing Practices Guidelines (cGMP) and complies fully with all Canadian government regulations related to health, safety, and the environment. Visit www.baralex.com for more information.

About Anadis Limited:

Anadis, a Melbourne based Biopharmaceutical Company, focused on Nutraceutical and Pharmaceutical product development. Anadis is currently also in the process of commercialising EV-71 - a bioactive protein based product against Enterovirus 71, a debilitating polio like disease affecting children in Taiwan and other parts of Asia.

Other products / projects currently under development include:

A set of Bio-Warfare/Respiratory Protection technologies, a project in conjunction with the Australian Department of Defence and US Bio-Defence Organisations, initially focused on short-term immediate protection from airborne bacteria such as Anthrax and Plague, future civilian applications include Hay Fever and Asthma.

Bio-Shield 10 a range of "bioshielding" technologies which protect delicate molecules, enzymes and proteins, initially targeted for use in the pro-biotic market, and research has also begun into an Immune Stimulating Infant Formula initially for the Asian market.

Pyloran, which has been clinically proven to reduce levels of bacteria in the stomach and reduce the symptoms of H.pylori associated gastritis - Anadis is also in early development of a H.pylori vaccine.

For further information, please contact:

Conor Graham - Chief Executive Officer Email: conor.g@anadis.com.au +61 3 9358 6388

Steven Skorobogaty – General Manager Commercial Email steven.s@anadis.com.au +61 3 9358 6388

Arie Nudel – Investor Relations Email: arie.n@anadis.com.au +61 3 9358 6388

Visit our websites: www.anadis.com.au and www.travelan.com.au

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