IMMUTEP LIMITED — Capital/Financing Update 2011

May 30, 2011

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ASX/Media Release 31[th] May 2011

CVAC[TM ] GRANTED APPROVAL IN DUBAI HEALTHCARE CITY; PRIMA COMMENCES COMMERCIALIZATION PLANS IN MIDDLE EAST

• First commercial sales of CVac anticipated in 2011

• First approval globally to make CVac commercially available

• Dr Hind Al Saadi appointed General Manager of Prima BioMed Middle East

• Prima to partner with the world-class City Hospital, the first hospital established in Dubai Healthcare City

• Dubai Healthcare City is the premier hub for medical innovation and patient care in the Middle East

• Significant opportunity for Prima to tap into US$517 million Middle East cancer therapy market.

Australian health care company Prima BioMed (Prima) (ASX: PRR) is pleased to announce that Dubai Healthcare City (DHCC) has granted approval for the marketing and distribution of CVac in DHCC. Subject to Prima finalizing regulatory steps, The first sales of CVac in DHCC are expected before the end of 2011. The commercialization of CVac is a significant event for Prima, allowing the company to generate revenues in a growing Middle Eastern healthcare market.

Dr Hind Al Saadi has been appointed as General Manager of Prima BioMed’s Middle East operations and will lead the commercialization effort for CVac in the region. Dr Al Saadi a pharmacist by training, has nearly 20 years of international industry experience in marketing, sales, distribution, and regulatory affairs. She has previously worked for Baxter Healthcare in New Zealand, as well as Globalpharma and The Center for Healthcare Planning and Quality in Dubai.

CVac will be available in DHCC through Prima’s partnership with The City Hospital, a state-of-the-art, fully equipped, multi-disciplinary modern hospital which facilitates world-class healthcare and hospitality in DHCC. Prima and The City Hospital have signed a Memorandum of Understanding laying out the terms and conditions by which CVac will be available at The City Hospital. A further agreement between the parties is to be signed in combination with full regulatory approval for CVac.

There is also the potential, in the future, to extend the application of CVac in Dubai to other mucin-1 positive tumours.

According to an analysis of IMS Health market data (undertaken by Access Economics for Prima), the annual global market for oncology chemotherapy is estimated at US$43 billion, of which at least US$517 million is attributable to the Middle East region[1] .

Prima BioMed Ltd , Suite 1, 1233 High St, Armadale, VIC 3143 Ph: +61 (0) 3 9824 5254 Fax: +61 (0) 3 9822 7735 www.primabiomed.com.au ABN: 90 009 237 889

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The approval of CVac in DHCC represents a major market opportunity for Prima to provide treatment for cancer patients in the Middle Eastern region and generate revenues.

Dr Al Saadi commented: “I am very pleased to be a part of the Prima BioMed team and bring CVac to its first commercial market. We look forward to working with our partners at The City Hospital to finalize our regulatory steps and commence treatment of cancer patients in the very near future. We see this as a significant advancement for cancer treatment in the Middle East region.”

Dr. Tarek Fathey, The City Hospital Director, said: “We at The City Hospital are excited to be on the cutting edge of cancer treatment. Our partnership to deliver CVac in DHCC fulfils our mission to enhance the quality of life of patients by providing high quality medical services.”

Prima BioMed’s CEO, Martin Rogers, said: “Prima is delighted to have achieved its first commercialization for CVac. This is a significant milestone for Prima, and we look forward to working with The City Hospital to maximise the benefit of our agreement to provide a treatment solution for cancer patients. This compliments our core focus of US FDA and EMA registration phase III study.”

Prima Biomed’s Chief Medical Officer Dr Neil Frazer, said: “We are delighted to be working in partnership with Dubai Healthcare City to make CVac commercially available to cancer patients in the Middle East region. This represents an important pilot commercialisation program for CVac. We also have the potential to extend the application of CVac in Dubai to other mucin-1 positive tumours, which is another exciting opportunity for the Company.”

ENDS

For further information please contact: Martin Rogers Mr James Moses Chief Executive Officer Investor and Media Relations Prima BioMed Mandate Corporate Ph: +61 2 9276 1242 Ph: +61 (0) 420 991 574 E: martin.rogers@primabiomed.com.au E: james@mandatecorporate.com.au

1 IMS Health ‘manufacturer into wholesaler’ sales data for ATC Class L01 (antieoplastic agents or commonly known as chemotherapy) in the 12 months to June 2010. This is a lower estimate without considering monoclonal antibody sales within the oncology market. Countries include Egypt, Jordan, Kuwait, Lebanon, Saudi Arabia, Turkey, and UAE. Market data excluded/not available for Bahrain, Cyrpus, Iraq, Iran, Israel, Oman, Qatar, Syria and Yemen.

Prima BioMed Ltd , Suite 1, 1233 High St, Armadale, VIC 3143 Ph: +61 (0) 3 9824 5254 Fax: +61 (0) 3 9822 7735 www.primabiomed.com.au ABN: 90 009 237 889

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About Prima BioMed

Prima BioMed is an ASX listed Australian health care company. The Company is focused on technologies in the fields of cancer immunotherapy and immunology. Prima’s lead product is CVac™. The Company’s broader, long term goal is to develop additional commercial cancer treatment technologies and programs for global markets. Further information can be found at: www.primabiomed.com.au

About The City Hospital

The City Hospital is a 210-bed premium facility for specialized health services located in Dubai. The City Hospital benefits from being a strategic part of the EHL Management Services portfolio, owned by the Dubai-based Varkey Group, MediClinic Corporation (South Africa) and GE Healthcare. Further information can be found at: www.ehl.ae.

About Dubai Healthcare City

Dubai Healthcare City (DHCC) was launched in 2002 by the UAE Vice President, Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed Bin Rashid Al Maktoum, to meet the demand for high-quality, patient-centered healthcare. Today, DHCC is home to two hospitals, over 90 outpatient medical centers and diagnostic laboratories with over 2000 licensed professionals occupying 4.1 million square feet in the heart of Dubai. DHCC is recognized as a center of excellence and medical innovation in the Middle East. It includes a number of world class groups including The Academic Medical Center, Boston University Institute for Dental Research & Education, and Mayo Clinic for non-interventional cardiology, The American Academy of Cosmetic Surgery Hospital, and Moorfields Eye Hospital. Further information can be found at: www.dhcc.ae.

Prima BioMed Ltd , Suite 1, 1233 High St, Armadale, VIC 3143 Ph: +61 (0) 3 9824 5254 Fax: +61 (0) 3 9822 7735 www.primabiomed.com.au ABN: 90 009 237 889