Immuron Ltd — Regulatory Filings 2005

Jun 9, 2005

June 10th 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 "Investor Presentation" for release and distribution to the market immediately.

On Behalf Of ANADIS LIMITED

CONOR GRAHAM Managing Director & CEO

THE RESERVE OF STRUCK

• Commercialised product (Travelan') now selling nationally.

1999 – 1998 1999 1999 1999 1999 1999 199

• · International market penetration imminent (pending registration across diverse markets).
• New, high value, product to be commercialised (Protectyn).
• STR&D book well funded -- substantial proportion of research at late stage.
• · Cash generating business unit, growing approximately 20% pa.

THEY YGALEY TE Reduces the Risk of Travellers' Diarrhoea

• The first product to actually help reduce the risk of getting diarrhoea rather than just treat the symptoms -it is also natural & health promoting.
• Up to 90% protection showed against Enterotoxigenic E.coli in clinical trials performed in the USA & Europe:
• National distributor appointed Innovex Australia (part of Quintiles 3 Transnational - the world's leading pharmaceutical services organization)
• International registration underway in markets including the US, the UK, and the EU
• · Wholesale revenue ~\$12.50 packet.

Ackzantsters Thelater

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• Enterovirus 71 is one of the viruses that causes thand, foot and mouth' or 'slapped cheek' disease in young children. Symptoms are often described as similar to polio
• Anadis has now developed a candidate protective therapy against Enterovirus 71. The program, based on Anadis' platform technologies, has been funded by Taiwan's Development Centre for Biotechnology (DCB).
• Potential markets include China, Vietnam, Hong Kong, Malaysia and 2 other parts of Asia.
• More details regarding Anadis in Taiwan to be available in the near 2 future.

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• The Pyloran program focuses on the H pylori bacteria, responsible for Gastritis and Gastric Ulcers
• A successful phase 2 clinical trial was completed at the Alfred Hospital, Melbourne October 2003.

First product from this pipeline: Protectyn, an Over-The-Counter (OTC) product, with a respectable margin.

• Protectyn^®, taken daily, to be available in packets giving 10 days cover. Implying potential demand of approx. 86 packets per patient 03
• Anadis is also in development of a H.pylori vaccine.

SHOOT AND COVE

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• Initially aim Short-term protection from Anthrax and Bubonic Plague.
• This project focuses on the protective actions of antibodies and their ability to bind and coat bacteria within the respiratory tract, reducing the capacity of airborne pathogens to affect humans.
• . Bacteria that cause Anthrax and Plague have proven very difficult to vaccinate against or treat with antibiotics - Anadis uses a novel approach.
• Laboratory trials have shown the Anadis technology to be highly successful in protecting the lungs against a close relative to the species that causes Plague.
• Early research is part of collaboration between Anadis and the Australian Department of Defence. We will be working with MARCE (Mid-Atlantic Regional Centre of Excellence in Biodefense and Emerging Infection Diseases), in the US.
• Anadis is collaborating with Starpharma Holdings Ltd looking at combining technologies for this project.
• Anadis has commercial rights to all non-military applications of any technologies developed.
• Future Civilian applications include Asthma & Hay-fever.

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• Bio-Shield 10 is a set of patented technologies useful for the protection of delicate molecules in the harsh stomach environment. They are incorporated in our EV-71 and Protectyn formulations.
• Can be formulated for the protection of Antibodies, Enzymes, Proteins, Bacteria (in particularly pro-biotic "good bacteria") and other health promoting food additives.
• Anadis tests have demonstrated that stomach acid destroys over 90% of an oral dose of probiotics taken within 10 minutes.
• Bioshielding technologies protect probiotics $\sim$ to the extent that 90% are still alive after 1 hour of exposure to acid.
• Anadis has pro-biotic viable Corn Flakes, kept at room temperature, for well over 12 MEEKS ROW.
• Applications of this technology, through tasteless and odorless spray, opens the door for a vast number of "Functional Food" opportunities.

Future uses for BloShield 10

*Bio-Shield 10 also has the potential for use with some vaccines & prescription drugs to Impirator ing tetapang kalendar n EN EN LAND

Anadis is working with Tatura Milk Industries (TMI) to develop a specialty milk powder for immune stimulating human infant formula.

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2. The aim is to have the product contain high levels of antioxidants which appear to be important in the immune development of children.

3. This research is being funded through a \$1m Food Industry Grant for 2 years.
4. The introduction of antioxidants into the milk is through controlled diet of the cow - not "spiking" the end product.
5. The profits from the sale of this premium product to be shared by Anadis Ltd and TMI.

Marker Potental II

Total market size for infant formula in Asia is approx. 290,000 metric ton. with a wholesale value in the order of $\blacksquare$ $\overline{\mathsf{AUDS1.6}}$ Billion - growing around $5\%$ per amirmi

• Committed on-going contract toll manufacturing for Aussie Bodies. (Recently purchased by Healtheries)
• A range of other health food marketers.

I yn y ferfiniad yn yn y gwyllt y ddiwy y gynthu y gyntaf y gyntaf y gyntaf y gyntaf y gyntaf y gyntaf y gynta

• Colostrum based health product for Korea, Japan, Taiwan & Greater China region
• Partnership products with Tatura Milk Industries (TMI), health products and infant formula for Asian markets.
• Veterinary Products.
• Contract Freeze-drying
• Turnover has grown from \$400k in 2000-01 to \$4.8m last financial year.

Approximately 92.5m shares issued. $\sim$

• Just under 2,000 shareholders. an ing
• Top 20 have 42% of issued capital. 2
• Largest shareholder 14%. C.
• Tatura Milk Industries substantial shareholder at 10.1% $\bullet$

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• Over 100 shareholders > 100,000 shares. anin
• Outstanding options < 5% of issued capital. aran
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• Over 80% shareholders Victorian based. ensi
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• Current market capitalisation ~ \$35M. Common

Cash & Cash Convertibles ~ \$5M

• Property & Plant \$1.8M eniu
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• Outstanding Grants, Tax etc. ~ \$2M S
• Revenue (2003-04) \$4.3M, (2002-03) \$3.2M, (2001-02) \$2M, (2000-01) \$400k. (First half of 2004-05 already \$2.7M)
• Revenue up $25%$ for year.
• Loss (2003-04) \$1.16M (\$1.3M 02-03 & \$1.7M 01-02) Ľ
• Raised \$4.25M through share placement to Tatura Milk Industries e
  Gald and Paracroft (largest shareholder) in July 2004 - this placement was completed privately by Anadis.

For more detailed information in regards to any of our products or technologies: Visit www.anadis.com.au Visit www.travelan.com.au Email investor@anadis.com.au

Arie Nudel - Investor Relations Phone: 61-3-9358-6388 Fax: 61 3 9358 6399 arie.n@anadis.com/au

Anadis Ltd - 4 Capital Link Drive Campbellfield, Victoria Australia 3061

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... with high returns.