Opthea Ltd — Director's Dealing 2008

Jan 20, 2008

==> picture [133 x 41] intentionally omitted <==

21 January 2008

The Companies Section The Australian Stock Exchange Limited South Tower, Rialto Level 45 525 Collins Street MELBOURNE VIC 3000

Dear Sir/Madam,

Re: Appendix 3X – Initial Director’s Interest Notice

Please find enclosed an Initial Director’s Interest Notice in respect of Ms Tina McMeckan, who was appointed as a non-executive director of Circadian Technologies Limited on 19 January 2008.

Yours sincerely

Natalie Korchev Company Secretary

Level 1, 10 Wallace Avenue, Toorak, Victoria 3142, Australia P: +61 (3) 9826 0399 Circadian Technologies Limited F: +61 (3) 9824 0083 ABN 32 006 340 567 www.circadian.com.au

Appendix 3X Initial Director’s Interest Notice

Rule 3.19A.1

Appendix 3X

Initial 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 CIRCADIAN TECHNOLOGIES LIMITED ABN 32 006 340 567

We (the entity) give ASX the following information under listing rule 3.19A.1 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	TINA MCMECKAN
Date of appointment	19 JANUARY 2008

Part 1 - Director’s relevant interests in securities of which the director is the registered holder In the case of a trust, this includes interests in the trust made available by the responsible entity of the trust

Number & class of securities

==> picture [17 x 9] intentionally omitted <==

----- Start of picture text -----

Nil
----- End of picture text -----

Part 2 – Director’s relevant interests in securities of which the director is not the registered holder

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

	Name of holder & nature of interest Note: Provide details of the circumstances giving rise to the relevant interest. Nil	Number & class of Securities Nil

• See chapter 19 for defined terms.

30/9/2001

Appendix 3X Page 1

Appendix 3X Initial Director’s Interest Notice

Part 3 – Director’s interests in contracts

Detail of contract	Not applicable
Nature of interest
Name of registered holder (if issued securities)
No. and class of securities to which interest relates

• See chapter 19 for defined terms.

Appendix 3X Page 2

30/9/2001