IMPEDIMED LIMITED — Major Shareholding Notification 2008

Apr 29, 2008

604 page 1/5 15 July 2001

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

To: Company Name/Scheme ImpediMed Limited ACN/ARSN ACN 089 705 144

1. Details of substantial holder (1) Name ImpediMed Limited ACN\ARSN (if applicable) ACN 089 705 144

There was a change in the interests of the substantial holder on 24 / 04 / 2008 The previous notice was given to the company on 24 / 10 / 2008 The previous notice was dated 23 / 10 / 2007

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2) had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities (4)	Previous notice	Previous notice	Present notice	Present notice
	Person’s votes	Voting power(5)	Person’s votes	Voting power(5)
Ordinary shares	53,105,298	65.8%	43,409,915	53.7%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme, are as follows:

Date of change	Person whose relevant interest changed	Nature of change (6)	Consideration given in relation to change (7)	Class and number of securities affected	Person’s votes affected
24/04/2008	ImpediMed Limited	Expiration of voluntary escrow agreement between ImpediMed Limited and Biophys Pty Ltd	Not applicable	1,260,8701 ordinary shares	Not applicable
24/04/2008	ImpediMed Limited	Expiration of voluntary escrow agreement between ImpediMed Limited and Intellidesign PtyLtd	Not applicable	658,375 ordinary shares	Not applicable
24/04/2008	ImpediMed Limited	Expiration of voluntary escrow agreement between ImpediMed Limited and Pamela Cove PtyLtd	Not applicable	30,928 ordinary shares	Not applicable
24/04/2008	ImpediMed Limited	Expiration of voluntary escrow agreement between ImpediMed Limited and Queensland Universityof Technology	Not applicable	373,815 ordinary shares	Not applicable
24/04/2008	ImpediMed Limited	Expiration of voluntary escrow agreement between ImpediMed Limited and Roxanne Pty Ltd	Not applicable	1,260,8701 ordinary shares	Not applicable

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24/04/2008	ImpediMed Limited	Expiration of voluntary escrow agreement between ImpediMed Limited and Thorpe Road Nominees PtyLtd	Not applicable	4,134,373 ordinary shares	Not applicable
24/04/2008	ImpediMed Limited	Expiration of voluntary escrow agreement between ImpediMed Limited and Tregoning Trailers Distributors Pty Ltd	Not applicable	2,064,005 ordinary shares	Not applicable
24/04/2008	ImpediMed Limited	Expiration of voluntary escrow agreement between ImpediMed Limited and Ian Tregoning	Not applicable	20,619 ordinary shares	Not applicable
24/04/2008	ImpediMed Limited	Expiration of voluntary escrow agreement between ImpediMed Limited and Uniquest Pty Limited	Not applicable	1,490,000 ordinary shares	Not applicable

1 Of the 1,260,870 shares held by each of Biophys Pty Ltd and Roxanne Pty Ltd, 739,130 shares of each holding remain subject to escrow and are included in section 4.

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person’s votes
ImpediMed Limited	Candlegrove Pty Ltd	Candlegrove Pty Ltd	Escrow agreement between ImpediMed Limited and Candlegrove PtyLtd	16,331 ordinary shares	Voting rights retained by the registered holder
ImpediMed Limited	Cherrell Hirst	Cherrell Hirst	Escrow agreement between ImpediMed Limited and Cherrell Hirst	69,826 ordinary shares	Voting rights retained by the registered holder
ImpediMed Limited	Colin Frederick Brown and Lynette Anne Brown	Colin Frederick Brown and Lynette Anne Brown	Escrow agreement between ImpediMed Limited and Colin Frederick Brown and Lynette Anne Brown	6,364 ordinary shares	Voting rights retained by the registered holder
ImpediMed Limited	Greg Brown	Greg Brown	Escrow agreement between ImpediMed Limited and GregBrown	4,335,349 ordinary shares	Voting rights retained by the registered holder
ImpediMed Limited	Klemzig Pty Ltd	Klemzig Pty Ltd	Escrow agreement between ImpediMed Limited and Klemzig Pty Ltd	86,791 ordinary shares	Voting rights retained by the registered holder
ImpediMed Limited	Melvyn Bridges and Lucille Bridges	Bridges Super Fund	Escrow agreement between ImpediMed Limited and Melvyn Bridges and Lucille Bridges	69,826 ordinary shares	Voting rights retained by the registered holder
ImpediMed Limited	Parma Corporation Pty Ltd	Bridges Family Trust	Escrow agreement between ImpediMed Limited and Parma Corporation PtyLtd	4,235,000 ordinary shares	Voting rights retained by the registered holder
ImpediMed Limited	Alan Armstrong	Alan Armstrong	Escrow agreement between ImpediMed Limited and Alan Armstrong	19,960 ordinary shares	Voting rights retained by the registered holder

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ImpediMed Limited	Biophys Pty Ltd	Biophys Pty Ltd	Escrow agreement between ImpediMed Limited and Biophys Pty Ltd	739,130 ordinary shares	Voting rights retained by the registered holder
ImpediMed Limited	Dennis Bourke	Dennis Bourke	Escrow agreement between ImpediMed Limited and Dennis Bourke	597,279 ordinary shares	Voting rights retained by the registered holder
ImpediMed Limited	Bruce Cairney	Bruce Cairney	Escrow agreement between ImpediMed Limited and Bruce Cairney	206,940 ordinary shares	Voting rights retained by the registered holder
ImpediMed Limited	Steve Conway	Steve Conway	Escrow agreement between ImpediMed Limited and Steve Conway	344,958 ordinary shares	Voting rights retained by the registered holder
ImpediMed Limited	Chelsea Services, Inc.	Chelsea Services Inc.	Escrow agreement between ImpediMed Limited and Chelsea Services Inc.	44,698 ordinary shares	Voting rights retained by the registered holder
ImpediMed Limited	Mike Drotar	Mike Drotar	Escrow agreement between ImpediMed Limited and Mike Drotar	163,437 ordinary shares	Voting rights retained by the registered holder
ImpediMed Limited	Matt Leitner	Matt Leitner	Escrow agreement between ImpediMed Limited and Matt Leitner	2,388 ordinary shares	Voting rights retained by the registered holder
ImpediMed Limited	Roxanne Pty Ltd	Roxanne Pty Ltd	Escrow agreement between ImpediMed Limited and Roxanne Pty Ltd	739,130 ordinary shares	Voting rights retained by the registered holder
ImpediMed Limited	Carl Sanchez	Carl Sanchez	Escrow agreement between ImpediMed Limited and Carl Sanchez	44,698 ordinary shares	Voting rights retained by the registered holder
ImpediMed Limited	Dennis Schlaht	Dennis Schlaht	Escrow agreement between ImpediMed Limited and Dennis Schlaht	129,146 ordinary shares	Voting rights retained by the registered holder
ImpediMed Limited	Steve Smith	Steve Smith	Escrow agreement between ImpediMed Limited and Steve Smith	570,664 ordinary shares	Voting rights retained by the registered holder
ImpediMed Limited	Steve St. Amand	Steve St. Amand	Escrow agreement between ImpediMed Limited and Steve St. Amand	37,362 ordinary shares	Voting rights retained by the registered holder
ImpediMed Limited	Starfish Technology Fund 1 LP	Starfish Technology Fund 1 LP	Escrow agreement between ImpediMed Limited and Starfish TechnologyFund 1 LP	6,395,783 ordinary shares	Voting rights retained by the registered holder
ImpediMed Limited	Statewide Superannuation Pty Ltd	Statewide Superannuation Pty Ltd	Escrow agreement between ImpediMed Limited and Statewide Superannuation PtyLtd	916,546 ordinary shares	Voting rights retained by the registered holder
ImpediMed Limited	Versant Side Fund III LP	Versant Side Fund III LP	Escrow agreement between ImpediMed Limited and Versant Side Fund III LP	28,346 ordinary shares	Voting rights retained by the registered holder
ImpediMed Limited	Versant Venture Capital III LP	Versant Venture Capital III LP	Escrow agreement between ImpediMed Limited and Versant Venture Capital III LP	4,803,735 ordinary shares	Voting rights retained by the registered holder

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604 page 4/5 15 July 2001 Escrow agreement 916,546 Voting rights retained by between ImpediMed ordinary shares the registered holder Limited and Westscheme Pty Ltd

ImpediMed Limited

Westscheme Pty Ltd

Westscheme Pty Ltd

5. Changes in association

The persons who have become associates (2) of, ceased to be associates of, or have changed the nature of their association (9) with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name and ACN/ARSN (if applicable) Nature of association

6. Addresses

The addresses of the persons named in this form are as follows:

Name	Address
ImpediMedLimited	Building4B, GardenCity OfficePark,2404 Logan Road,EightMilePlains,Brisbane QLD 4113
CandlegrovePtyLtd	114 EastTerrace,Adelaide, South Australia
Cherrell Hirst	525FigTreePocketRoad,FigTreePocket, Queensland
Colin Frederich&LynetteAnneBrown	26AnchorageDrive,RabyBay, Queensland
GregBrown	23Boyd Street,Bowen Hills, Queensland
KlemzigPtyLtd	Riverside Centre,Level31,123Eagle Street,Brisbane, Queensland
Melvyn Bridges	89 GeldartRoad, Chandler, Queensland
Parma Corporation PtyLtd	195Vulture Street, South Brisbane, Queensland
Alan Armstrong	9824 ViaRita, Santee, California, USA
BiophysPtyLtdACN 111517956	Level 1, 34 HighStreet, Southport, Queensland
DennisBourque	10370RueMont Grenoble, San Diego, California, USA
Bruce Cairney	7747 Margerum Avenue,Apartment227, San Diego, California, USA
Steve Conway	Apartment1802,700Front Street, San Diego, California, USA
Chelsea Services,Inc.	2244 Fort Stockton, San Diego, California, USA
MikeDrotar	920 Stratford Court,Del Mar, California, USA
Intellidesign PtyLtdACN068 564036	1/40Trinder Road,Ashgrove, Queensland
MattLeitner	11117 BlytheRoad, San Diego, California, USA
Pamela CovePtyLtdACN074544906	110Hutt Street,Adelaide, South Australia
Queensland University of Technology	2George Street,Brisbane, Queensland
RoxannePtyLtdACN 110755 345	Level6,120Edward Street,Brisbane, Queensland
CarlSanchez	4951CuncannonCourt, San Diego, California
Dennis Schlaht	2320Ranchview Place,Escondido, California, USA
Steve Smith	13,401Stone Canyon Road,Poway, California, USA
Steve St. Amand	8065Berwyn Road, San Diego, California, USA
Starfish TechnologyFund1 LP	66 Jolimont Street, Jolimont,Victoria
Statewide Superannuation Pty Ltd ACN008 099223	Statewide House, Level 1, 99 Gawler Place, Adelaide, South Australia
Thorpe Road Nominees Pty Ltd ACN007852 173	59 Hardys Road, Underdale, South Australia
Tregoning Trailers Distributors Pty Ltd ACN007565175	540 Port Road, Allenby Gardens, South Australia
Ian Tregoning	59HardysRoad, Underdale, South Australia
UniQuestPtyLimitedACN010 529 898	Staff HouseRoad,The University ofQueensland, StLucia, Queensland
Versant SideFundIII LP	3000 SandHill Road,Building4, Suite210,MenloPark, California, USA
VersantVenture Capital III LP	3000 SandHill Road,Building4, Suite210,MenloPark, California, USA
WestschemePtyLtdACN009194 218	Level 13,AdelaideTerrace,Perth,Western Australia

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604 page 5/5 15 July 2001

Signature

print name PHIL AUCKLAND

capacity SECRETARY

sign here date 29/04/2008

DIRECTIONS

(1) If there are a number of substantial holders with similar or related relevant interests (eg, a corporation and its related corporations, or the manager and trustee of an equity trust), the names could be included in an annexure to the form. If the relevant interests of a group of persons are essentially similar, they may be referred to throughout the form as a specifically named group if the membership of each group, with the names and addresses of members is clearly set out in paragraph 7 of the form.

• (2) See the definition of “associate” in section 9 of the Corporations Act 2001.

• (3) See the definition of “relevant interest” in sections 608 and 671B(7) of the Corporations Act 2001.

• (4) The voting shares of a company constitute one class unless divided into separate classes.

• (5) The person’s votes divided by the total votes in the body corporate or scheme multiplied by 100. (6) Include details of:

• (a) any relevant agreement or other circumstances because of which the change in relevant interest occurred. If subsection 671B(4) applies, a copy of any document setting out the terms of any relevant agreement, and a statement by the person giving full and accurate details of any contract, scheme or arrangement, must accompany this form, together with a written statement certifying this contract, scheme or arrangement; and

• (b) any qualification of the power of a person to exercise, control the exercise of, or influence the exercise of, the voting powers or disposal of the securities to which the relevant interest relates (indicating clearly the particular securities to which the qualification applies).

See the definition of “relevant agreement” in section 9 of the Corporations Act 2001.

• (7) Details of the consideration must include any and all benefits, money and other, that any person from whom a relevant interest was acquired has, or may, become entitled to receive in relation to that acquisition. Details must be included even if the benefit is conditional on the happening or not of a contingency. Details must be included of any benefit paid on behalf of the substantial holder or its associate in relation to the acquisitions, even if they are not paid directly to the person from whom the relevant interest was acquired.

• (8) If the substantial holder is unable to determine the identity of the person (eg if the relevant interest arises because of an option) write "unknown". (9) Give details, if appropriate, of the present association and any change in that association since the last substantial holding notice.

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604 GUIDE page 1/1 13 March 2000

GUIDE

This guide does not form part of the prescribed form and is included by ASIC to assist you in completing and lodging form 604.

• Signature This form must be signed by either a director or a secretary of the substantial holder. Lodging period Nil Lodging fee Nil Other forms to be Nil completed Additional (a) If additional space is required to complete a question, the information may be included on a separate piece of paper annexed to the form.

• information (b) This notice must be given to a listed company, or the responsible entity for a listed managed investment scheme. A copy of this notice must also be given to each relevant securities exchange.

• (c) The person must give a copy of this notice: (i) within 2 business days after they become aware of the information; or (ii) by 9.30 am on the next trading day of the relevant securities exchange after they become aware of the information if: (A) a takeover bid is made for voting shares in the company or voting interests in the scheme; and (B) the person becomes aware of the information during the bid period.

• Annexures To make any annexure conform to the regulations, you must 1 use A4 size paper of white or light pastel colour with a margin of at least 10 mm on all sides 2 show the corporation name and ACN or ARBN 3 number the pages consecutively 4 print or type in BLOCK letters in dark blue or black ink so that the document is clearly legible when photocopied 5 identify the annexure with a mark such as A, B, C, etc 6 endorse the annexure with the words: This is annexure (mark) of (number) pages referred to in form (form number and title)

• 7 sign and date the annexure, the annexure must be signed by the same person(s) who signed the form.

Information in this guide is intended as a guide only. Please consult your accountant or solicitor for further advice.

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