Immuron Ltd — Regulatory Filings 2005

Mar 23, 2005

March 24th 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 copy of "Newsletter To Shareholders - March 2005" for release and distribution to the market immediately.

On Behalf Of ANADIS LIMITED

CONOR GRAHAM Managing Director & CEO

Anadis and Starpharma working towards Biodefence solutions

Anadis has signed a Heads of Agreement and Material Transfer Agreement with Starpharma Ltd (ASX:SPL), focused on the continued development of Anadis' Respiratory Protection / Biowarfare project. Initially

this project aims to provide immediate short term respiratory protection from airborne biological agents such as Anthrax and Plague.

These agreements will explore the use of Starpharma's nano-scale dendrimer technologies as a possible component for the delivery of polyclonal antibodies to the respiratory

technology.

system. Starpharma Ltd is an Australian biopharmaceutical company focused on the creation of dendrimer

A nanotechnology, dendrimers are synthetic compounds with characteristics making them useful for development and incorporation with pharmaceuticals. For more information regarding Starpharma Ltd go to www.starpharma.com.

Anadis' project "Neutralisation of Respiratory Toxins and Pathogens" is already the subject of

"...the use of polyclonal antibodies, barvested from bovine colostrum. combined with Starpharma's nanoscale dendrimer molecules to provide immediate short term respiratory protection from airborne biological agents such as Anthrax and Plague."

collaboration between Anadis and the Australian Department of Defence, and support and input have been offered from MARCE (the Mid-Atlantic Regional Centre of Excellence in Biodefense and Emerging Infectious Diseases) headquartered in Baltimore, USA. The research is

to be performed by Anadis' biological scientists with interaction from Starpharma chemists. This research involves the use

Polyvalent Dendrimer

of polyclonal antibodies. harvested from boyine colostrum, combined with Starpharma's nano-scale dendrimer molecules to provide immediate short term respiratory protection from airborne biological agents such as Anthrax and Plague.

Starpharma will provide Anadis with dendrimer technology, the related background IP necessary for its use, and cover associated costs.

The research looks at utilizing dendrimers as one of several possible systems to improve the clinical effectiveness, and safety, of polyclonal antibodies in sensitive areas such as the lungs.

Running over the next 18 months, this is expected to considerably enhance the chance of success for the Respiratory Project. Anadis see the potential for these

developments to further our work on the applications of this set of technologies in the field of Asthma.

The project "Neutralisation of Respiratory Toxins and Pathogens" is funded through the Commonwealth Department of Science and Technology grant, for work on Respiratory Protection.

Polyclonal antibodies are a mixture of antibodies. produced by the immune system. These antibodies are typically produced by immunization of a suitable mammal, such as a mouse or rabbit (in our case a cow). An antigen is injected into the mammal. This induces the immune system to produce immunoglobulins (IgG) specific thin the antigen. This Igons usually purified in small amounts from the manimal's blood serum. but we are able to haryest very large quantities from the colostrum

SI m grant won for Immune Stimulating Infant Formula project.

Anadis and Taurea Milk Industries have won a \$1 million research grant for research anned at developing a specialty rulk powder for human infant formula. This is part of the Anadis Tatura Innovation Finging Room (AFIER) development procline which is aimed a creating high value dairy products. The grant comes from the Commonwealth Covernment Food Innovation Gram THE TERM sheme.

The mixter this rew modual is to centain naturally high levels of antioxidants - which appears to be imperfunt in the ... immune development of children. The project is based on the development. of a health emhanced infant and child formula product. initially almed at the Asian market. There aiready is advanced interest from Asian distributors in this product. hilans are dinn wak 1998 - Andrew Marian III, markazar a margaretar Elizabeth a control de la c George Bernson, an

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Expected benefits of this termita include:

• · Erhanced immure profection for infants arising from the capacity of anuoxidants to stimulate immune nmenon
• · Safe and effective function hased on matching the anti-oxidant function tevels found in human breast milk
• · Strong natural natiways for enhancing the antioxidant contem. This is extendely favorable around the world and especially in

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equivalent bioavailability and bioactivity of the anticxidant This research project has been funded up to pilly scale work and as to nin for two yeus. Sheila Matthews has recently been appointed as Project Coordinator, she brings a diverse background. of skills to the project. including: 20 vears of infant bealth nuving experience: sver S ytas superfekte Andreas Company and State State State State State State State State State State State State State State State State State State State State State State State State State State State State State State State State State St San Albanya da Barat da San Maria (San San San San San San San San San San

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Production and Facilities and continue to expand to meet increasing demand

If thiring December 2004, you had asked Laurence Schenas Production Supervisor what he wanted for Christian he would have answered have pallet space! With another impressive six months during the second ball of 2004, including the last three months of record breaking production levels - our contract manufacturing communics to expand. All our customers have increased the size of their orders as their sales continue to grow.

K STOR IN KORPUNIAN the increasing demand on the facility a new drive in racking. system has been installed.

Almost completed is a new blending and bulking room specifically designed for packaging mer 3 5kg to 20kg units. In addition ne nin parang nana will speed up packing with an overhead ganity utilizing bulk bags holding 5 to bittleg as opposed to fixed 20kg bags that were previously employed.

New equipment to inther enhance occupational health. and safety include electronic palei ners which can help prevent back spain and injuries from bending and reaching

Warehouse Officer Hartib organising the warehouse

ANADIS LIMITED AN ASSESSED TO THE RESERVE

4 Carmal Link Drive Campbellield Victoria, Australia 5004 Phone (61+3) 9358 (155) Fax (61+3) 9358 (1379 у ww.amalis.com.au

Travelan Coes National

Anadis was pleased to amounce carlier this month the appointment of Innovex Australia as national distributor for Travelan, We see Travelan as a high quality product encountering an uninet need in the Australian market place and foresee the opportunity for an annual Innovex to take advantage of the potential demand for this product with its nation with distribution and sales choods

Minister Andrew Book IR GERMAN BEGASION Kromaniko Kustanzo Sex Zealand Official TAG RANGA TIRA Karlow Chealthcar SOUTH COMPANY RESIDENCE Stavenski kan to often and services. STAR STAR STAR STAR ST wanabup chukm Ranganang Concal a di sebagai pada tahun 1999. Katharamatang

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and Taiwan Interest in the product has come from distributors to a miniber of other countries and agreements are underwayto hanter havesdigge diese exciting opportunities. ...................................

Travelan koon to be available "on-line" for international delivery

Travelari will be available ior personal use via secure on-tine purchasing at WAN HIVERI (1918 AL 1998 - Andrew Maria Carl Kabupatén Indonésia Indonésia

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shown up to 90% protection of volunteers against challenge with the types of E. con that cause TD. ID is the manber one health problem for international travellers in terms of tremiency and economic mivier Besides the extreme discomfort and inconvenience. The can be serious enough to warrant confinement to bed. or even hospitalisation Even mild (1) can seriously affect the effectiveness of a business trip, or worse your encymen of a well deserved honday.

Vecide are well aware of society's overise of antibiotics and suspect. that Iltavelan may be an antibicaic -- but this is not
the case. Through the ase of natural protection mechanisms, Travelan uses the antibodies from Colosmun, harvested from dairy cows, which have been hyper irimunized with a patented Anadis vaccine Anitoxles, in very ligh. EMARIAN MARA Andrew Bernard Sta 1989 - Angels Barbon Santa Caractería (Caractería de Caractería de Caractería de Caractería de Caractería de Caractería de Caractería ( Maria Maria (Maria Maria

taan kale dhigaalaha ah dhamaan ka dhamaan ka marka ah dhamaan ka marka ah dhamaan ka marka ah dhamaan ka mark

Of course safety is a primary concern. Travelan is a natural inoduct. prepared from Bowine Colosmin, with Natural Product credemials accepted by the Australian TGA - one of the most stringent drug regulatory bodies in the world. The Bovine Colositum is harvested from Australian dany cows that are certified free from BSF. t Mad Cow disease). Each tunch is need a anthunics and modernised to kill any sations.

Iravelan is already available through most Victorian Pharmacies, and nationally through Ameal Pharmacies and Priemine, Travelan's official mational kanch (pubside Vatora) is in March / April 2005 at the which fine Travelan will communibe available through many arport locations around Australia, and begin to estableh a presence in ...

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