Immuron Ltd — Regulatory Filings 2006

Dec 13, 2006

December 14th, 2006

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 "Anadis Successfully Raises Flu Antibodies" for release and distribution to the market immediately.

Yours sincerely

CONOR GRAHAM Managing Director & CEO

Flu Antibodies Successfully Raised Influenza program advances to next stage

Australian biopharmaceutical company Anadis Limited (ASX:ANX) is pleased to announce the exciting results of our ability to raise high levels of polyclonal antibodies against key proteins that neutralise flu virus. This important research could provide an alternate and adjunct treatment and a preventative for influenza A virus, aiming at both 'normal' influenza and "bird flu".

Using a proprietary formulation of human flu virus proteins, Anadis scientists have successfully harvested very high antibody levels from dairy colostrum.

Research Program

The Anadis' influenza program leverages technologies developed through the Anadis/DSTO (Defence and Science Technology Organisation) Bio-Defence program for respiratory protection. The program aims to provide passive immunity against influenza A viruses and potentially also treat ongoing infection. Both oral and respiratory delivery of antibodies is to be examined.

Advantages of Antibody Therapy

There are a number of advantages with antibody therapies which provide an important niche for the Anadis technologies:

• Typical Flu vaccine requires 1-3 weeks for a response, where as antibody therapy would provide immediate protection and may also be effective at halting existing infections.
• Due to the nature of polyclonal antibody therapies, flu antibodies have the potential of not being strain specific and can potentially offer protection from those strains not covered in the annual vaccine. This is to be tested in the research program.
• Passive protection of high risk individuals which typically have a lower response to vaccine (eg: >65 years, chronically ill, immuno-suppressed due to drugs or chemotherapy)
• Solution for populations who have high risk for flu complications (eg: diabetics, chronically ill, cancer patients, elderly, carers)
• Alternative for those unwilling to be vaccinated, or in whom current vaccines are a contraindication and for whom other prescription antivirals are unsatisfactory.
• Protection of travellers to high risk locations.
• Can be stockpiled and used by public health, military and emergency response organisations.

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

About Anadis Limited:

Anadis, a Melbourne based biopharmaceutical company is focused on Nutraceutical and Pharmaceutical research and development. Anadis is a specialist in the development of Dairy (bovine) colostrum derived products for therapeutic use in humans. Projects include:

Anadis' first commercialised product: Travelan is a natural product, which significantly decreases the risk of the medical condition known as Travellers Diarrhoea and the symptoms of gastrointestinal disorders. Travelan is a colostrum preparation, against the common strains of $E_{\text{col}}i$ – the most common cause of Travellers.

Travelan which has received a "Green Light' for sales in North America, now has US and Canadian distributors appointed. Travelan distribution is currently being developed for other markets including: Singapore, India. Korea, United Arab Emirates, Thailand. Malaysia, South Africa and the UK and EU.

Travelan has recently been potentially identified for additional gastrointestinal indications including Irritable Bowel Syndrome IBS and Inflammatory Bowel Disorder IBD.

For more information please visit www.travelan.com

EV-71 - a bioactive protein based preventative product against Enterovirus 71, a debilitating polio like disease, is one of the viruses that causes 'hand, foot and mouth' or 'slapped cheek' disease. A significant proportion of younger children effected can develop nervous signs such as fits, paralysis and Enterovirus 71 has the potentially to be fatal. Anadis is now preparing colostrum antibodies for commercialisation in an anti-EV71 preventative, set to begin marketing in Taiwan during the northern hemisphere summer of 2007.

A set of Bio-Defence and 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.

This project is expanding to examine the use of antibodies in providing respiratory protection against Influenza virus

Bio-Shield 10 a range of "bio-shielding" technologies which protect delicate molecules, enzymes and proteins, initially targeted for use in the pro-biotic market.

Development into an Immune Stimulating Infant Formula is underway, initially destined for the Asian market.

Pyloran, which has been clinically proven to reduce levels of H.pylori 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 Arie Nudel - Investor Relations Email: arie.n@anadis.com.au +61 3 9358 6388

Anadis - Delivering On The Promise Of Biotechnology