IMMUTEP LIMITED — Capital/Financing Update 2011

Sep 20, 2011

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New Issue Announcement, Application for Quotation of Additional Securities and Agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX’s property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003, 24/10/2005.

Name of Entity:

Prima Biomed Limited (ASX: PRR)

ABN:

90 009 237 889

We (the entity) give ASX the following information.

Part 1 - All Issues

You must complete the relevant sections (attach sheets if there is not enough space).

• 1 +Class of +securities issued or to be Fully Paid Ordinary Shares (PRR) issued

2 Number of[+] securities issued or to be 457,058 issued (if known) or maximum number which may be issued

3 Principal terms of the[+] securities (eg, if Pari passu with existing Ordinary Fully Paid options, exercise price and expiry date; Shares (PRR) if partly paid[+] securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

• See chapter 19 for defined terms.

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4Do the+securities rank equally in allrespects from the date of allotmentwith an existing+class of quoted+securities?If the additional securities do not rankequally, please state:• the date from which they do• the extent to which they participatefor the next dividend, (in the case ofa trust, distribution) or interestpayment• the extent to which they do not rankequally, other than in relation to thenextdividend,distributionorinterest payment5Issue price or consideration6Purpose of the issue(If issued as consideration for theacquisition of assets, clearly identifythose assets)7Dates of entering+securities intouncertificated holdings or despatch ofcertificates8Number and+class of all+securitiesquoted on ASX (_including_the securitiesin clause 2 if applicable)	Yes (PRR)	Yes (PRR)
	21stSeptember 2011
	**Number **	+Class
	1,009,053,26356,453,669	Ordinary fully paid shares (PRR)Options exercisable at $0.02 on orbefore31December2011(PRRO)

9Number and+classof all+securities notquotedonASX(includingthesecurities in clause2 if applicable)		Number	+Class– Options	+Class– Options	+Class– Options
		Amount	Exercise Price	Expiration Date	ASX Code
		1,884,253	$0.2685	9 November 2014	PRRAS
		1,884,253	$0.2360	8 December 2014	PRRAU
		1,061,411	$0.2271	12 January 2015	PRRAY
		1,118,211	$0.2345	12 February 2015	PRRAW
		1,075,269	$0.2277	18 March 2015	PRRAZ
		500,000	$0.2500	6 May 2015	PRRAC
		1,055,011	$0.2351	19 May 2015	PRRAD
		32,500,000	$0.2000	6 December 2013	PRRAL
		4,000,000	$0.1000	6 December 2014	PRRAL
		740,741	$0.3390	1 February 2016	PRRAL
		45,819,149	Total

10 Dividend policy (in Unchanged the case of a trust, distribution policy) on the increased capital (interests)

• See chapter 19 for defined terms.

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Part 2 - Bonus Issue or Pro Rata Issue

11Issecurityholderapprovalrequired?12Is the issue renounceable or non-renounceable?13Ratio in which the+securities willbe offered14+Class of+securities to which theoffer relates15+Recorddatetodetermineentitlements16Will holdings on different registers(or subregisters) be aggregated forcalculating entitlements?17Policy for deciding entitlements inrelation to fractions18Names of countries in which theentity has+security holders whowillnotbesentnewissuedocumentsNote: Security holders must be told how theirentitlements are to be dealt with.Cross reference: rule 7.7.19Closingdateforreceiptofacceptances or renunciations20Names of any underwriters21Amount of any underwriting fee orcommission22Names of any brokers to the issue23Fee or commission payable to thebroker to the issue24Amountofanyhandlingfeepayable to brokers who lodgeacceptances or renunciations onbehalf of+security holders25If the issue is contingent on+security holders’ approval, the dateof the meeting

26	Date entitlement and acceptance
	form and prospectus or Product
	Disclosure Statement will be sent to
	persons entitled
27	If the entity has issued options, and
	the terms entitle option holders to
	participate on exercise, the date on
	which notices will be sent to option
	holders
28	Date rights trading will begin
	(if applicable)
29	Date rights trading will end
	(if applicable)
30	How do+security holders sell their
	entitlements_in full_through a
	broker?
31	How do+security holders sell_part_
	of their entitlements through a
	broker and accept for the balance?
32	How do+security holders dispose
	of their entitlements (except by sale
	through a broker)?
33	+Despatch date

Part 3 - Quotation of Securities

You need only complete this section if you are applying for quotation of securities

34 Type of securities ( tick one ) (a)[Securities described in Part 1 ]

• (b)[All other securities ]

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

• See chapter 19 for defined terms.

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Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

35[If the ][+][securities are ][+][equity securities, the names of the 20 largest holders of the ] additional[+] securities, and the number and percentage of additional[+] securities held by those holders 36[If the ] +securities setting out the number of holders in the categories[+][securities are ][+][equity securities, a distribution schedule of the additional ] 1 - 1,000 1,001 - 5,000 5,001 - 10,000 10,001 - 100,000 100,001 and over 37[A copy of any trust deed for the additional ][+][securities ]

Entities that have ticked box 34(b)

38Number of securities for which+quotation issought39Class of+securities for which quotation issought40Do the+securities rank equally in all respectsfrom the date of allotment with an existing+class of quoted+securities?If the additional securities do not rank equally,please state:• the date from which they do• the extent to which they participate for thenext dividend, (in the case of a trust,distribution) or interest payment• the extent to which they do not rank equally,other than in relation to the next dividend,distribution or interest payment41Reason for request for quotation nowExample: In the case of restricted securities, end of restriction period(if issued upon conversion of another security,clearly identify that other security)42Number and+class of all+securities quoted onASX (_including_the securities in clause 38)
	**Number **	+Class

Quotation Agreement

• 1 +Quotation of our additional +securities is in ASX’s absolute discretion. ASX may quote the[+] securities on any conditions it decides.

• 2 We warrant the following to ASX.

  • The issue of the[+] securities to be quoted complies with the law and is not for an illegal purpose.

  • There is no reason why those[+] securities should not be granted[+] quotation.

  • An offer of the[+] securities for sale within 12 months after their issue will not require disclosure under section 707(3) or section 1012C(6) of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any[+] securities to be quoted and that no-one has any right to return any[+] securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the[+] securities be quoted.

• We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the[+] securities to be quoted, it has been provided at the time that we request that the[+] securities be quoted.

• If we are a trust, we warrant that no person has the right to return the +securities to be quoted under section 1019B of the Corporations Act at the time that we request that the[+] securities be quoted.

• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.

• 4 We give ASX the information and documents required by this form. If any information or document not available now, will give it to ASX before[+] quotation of the[+] securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign Here:

==> picture [95 x 54] intentionally omitted <==

Company Secretary Print Name: Ian Bangs

Date: Wednesday, 21[st] September 2011

21.09.2011

• See chapter 19 for defined terms.

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