IMPEDIMED LIMITED — Director's Dealing 2008

May 1, 2008

Appendix 3Y Change of Director’s Interest Notice

Rule 3.19A.2

Appendix 3Y

Change of Director’s Interest Notice

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 30/9/2001.

Name of entity	IMPEDIMED LIMITED
ABN	65 089 705 144

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	Dr Michael Panaccio
Date of last notice	25/10/2007

Part 1 - Change of director’s relevant interests in securities

In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest

Indirect

Nature of indirect interest (including registered holder) Note: Provide details of the circumstances giving rise to the relevant interest.

Masto Pty Ltd (a company controlled by Michael Panaccio): • 229,000 ordinary shares • 114,500 options to subscribe for ordinary shares at an exercise price of $0.72 per share Starfish Technology Fund 1, LP (an entity controlled by Michael Panaccio): • 24,285,465 ordinary shares • 2,763,200 options to subscribe for ordinary shares at an exercise price of $0.72 per share Various holders (deemed relevant interest under section 608(3)(b) of the Corporations Act in shares which are subject to voluntary and mandatory escrow agreements with the entity: • 28,819,833 ordinary shares

• See chapter for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Date of change	24 April 2008
No. of securities held prior to change	56,211,998 (including deemed relevant interests)
Class	Ordinary shares and options to subscribe for ordinary shares
Number acquired	120,212 ordinary shares were added to mandatory escrow agreements
Number disposed	9,815,595 ordinary shares were released from voluntary escrow agreements
Value/Consideration Note: If consideration is non-cash, provide details and estimated valuation	Not applicable
No. of securities held after change	46,516,615 including deemed relevant interests – refer Annexure A
Nature of change Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back	Shares held by certain holders under voluntary escrow agreements have been released. The number of shares held under mandatory escrow agreements has increased.

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	N/A
Nature of interest	N/A
Name of registered holder (if issued securities)	N/A
Date of change	N/A
No. and class of securities to which interest related prior to change Note: Details are only required for a contract in relation to which the interest has changed	N/A
Interest acquired	N/A
Interest disposed	N/A

• See chapter for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Value/Consideration Note: If consideration is non-cash, provide details and an estimated valuation	N/A
Interest after change	N/A

• See chapter for defined terms.

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Appendix 3Y Change of Director’s Interest Notice

Annexure A

Name of entity	IMPEDIMED LIMITED
ABN	65 089 705 144

Deemed relevant interests in escrowed securities

Name of holder & nature of interest Note: Provide details of the circumstances giving rise to the relevant interest. Candlegrove Pty Ltd Cherrell Hirst Colin Frederick & Lynette Anne Brown Greg Brown Klemzig Pty Ltd Melvyn Bridges Parma Corporation Pty Ltd Alan Armstrong Biophys Pty Ltd ACN 111 517 956 Dennis Bourque Bruce Cairney Steve Conway Chelsea Services, Inc. Mike Drotar Matt Leitner Roxanne Pty Ltd ACN 110 755 345 Carl Sanchez Dennis Schlaht Steve Smith Steve St. Amand Statewide Superannuation Pty Ltd ACN 008 099 223 Versant Side Fund III LP Versant Venture Capital III LP Westscheme Pty Ltd ACN 009 194 218 Total

Number & class of Securities 16,331 ordinary shares 69,826 ordinary shares 6,364 ordinary shares 4,335,349 ordinary shares 86,791 ordinary shares 69,826 ordinary shares 4,235,000 ordinary shares 18,850 ordinary shares 739,130 ordinary shares 597,279 ordinary shares 206,940 ordinary shares 344,958 ordinary shares 44,698 ordinary shares 163,437 ordinary shares 2,388 ordinary shares 739,130 ordinary shares 44,698 ordinary shares 129,146 ordinary shares 570,664 ordinary shares 37,362 ordinary shares 916,546 ordinary shares 28,346 ordinary shares 4,803,735 ordinary shares 916,546 ordinary shares

19,124,450 ordinary shares

• See chapter for defined terms.

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