Opthea Ltd — Board/Management Information 2008

Jun 12, 2008

13 June 2008

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Circadian appoints Mr Carlo Montagner as non-executive director

The Board of Directors of Circadian Technologies Limited (“Circadian”) is pleased to announce the appointment of Mr Carlo Montagner as a non-executive director of the company effective from 1 July 2008.

Carlo Montagner, who has recently joined Circadian’s Product Development Review Group, has a wealth of experience in heading global oncology businesses for chemotherapeutic products and has more than 15 years experience in the pharmaceutical industry in the US, EU, Japan and in Australia. During his career, Mr Montagner has built specialty oncology practices, managing the strategic integration of both clinical and commercial aspects of drug portfolios.

He is former Executive Vice President & Global Head of Schering AG/Berlex Labs USA Oncology Business Unit. He has also held various positions at Aventis Pharma including Head of Oncology & Cardiovascular Business Unit at Sanofi-Aventis Japan and Global Senior Director of Marketing and Medical Affairs, managing the Taxanes chemotherapy portfolio.

He also holds a non-executive director position with Alchemia Limited whose board he joined in March 2008.

Mr Montagner, who has recently returned to Australia from the US, is President Oncology Pan Asia for Nasdaq listed Abraxis Bioscience Inc, CEO of privately held Specialised Therapeutics Australia and is a member of the Australian Institute of Company Directors.

Circadian’s chairman, Dominique Fisher said “Carlo’s skills and experience will be great assets for Circadian particularly in light of the company’s strategy to develop cancer drugs using its VEGF technology.”

Further information:

Dominique Fisher Chairman Phone: 61 3 9826 0399

Robert Klupacs Managing Director & CEO Phone: 61 3 9826 0399

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Level 1, 10 Wallace Avenue, Toorak, Victoria 3142, Australia P: +61 (3) 9826 0399 F: +61 (3) 9824 0083 www.circadian.com.au

Circadian Technologies Limited ABN 32 006 340 567