PHARMX TECHNOLOGIES LIMITED — AGM Information 2003

Nov 25, 2003

COSMOS LIMITED

ABN 25 000 091 305

NOTICE OF ANNUAL GENERAL MEETING

Notice is hereby given that the annual general meeting of Cosmos Limited (the "Company") will be held at the Grace Hotel Sydnev. 77 York Street. Sydney on 25th November 2003 at 11:00am.

$\ddagger$ . Receipt of Accounts

The Statement of Financial Position, Statement of Financial Performance and the Reports of the Directors and of the Auditor for the year ended 30th June 2003 are to be received and considered at the meeting.

$2.$ Re-election of Nigel C Purves as a Director

The following resolution will be put as an ordinary resolution:

"That Mr Nigel C Purves, who retires by rotation and being eligible offers himself for reelection, be and is hereby elected a director of the Company".

Approval under Listing Rule 7.1 of Issue of Convertible Redeemable Notes- Link Traders 3. (Aust) Pty Limited

The following resolution will be put as an ordinary resolution:

"That the Company approve under Listing Rule 7.1 the issue to Link Traders (Aust) Pty Limited (ACN 002 065 849) of 300,000 "Stage One" 2 cent Convertible Redeemable Notes and 1,500,000 "Stage Two" 2 cent Convertible Redeemable Notes, each for an issue price of $1.00 per note".

Approval under Listing Rule 7.1 of Issue of shares in lieu of interest due under Convertible 4. Redeemable Notes - Link Traders (Aust) Pty Limited

The following resolution will be put as an ordinary resolution:

"That the Company approve under Listing Rule 7.1 the issue to Link Traders (Aust) Pty Limited (ACN 002 065 849) of 90.000.000 ordinary shares in the Company, each for an issue price of 2 cents per share, in lieu of the payment of cash due as interest to it on the first interest payment date under "Stage Two" 2 cent Convertible Redeemable Notes referred to in Resolution 3".

5. Approval under Listing Rule 7.1 of Issue of Convertible Redeemable Notes-Henry Preston and OE Ptv Limited

The following resolution will be put as an ordinary resolution:

"That the Company approve under Listing Rule 7.1 and Listing Rule 10.11 the issue to:

• OE Pty Limited (ACN 092 298 716), a company associated with Henry Preston, of (a) 300,000 "Stage One" 2 cent Convertible Redeemable Notes and 900,000 "Stage Two" 2 cent Convertible Redeemable Notes; and
• $(b)$ Henry Preston of 100,000 "Stage Two" 2 cent Convertible Redeemable Notes, each for an issue price of $1.00 per note".

6. Approval under Listing Rule 7.1 of Issue of shares in lieu of interest due under Convertible Redeemable Notes - Henry Preston and OE Pty Limited

The following resolution will be put as an ordinary resolution:

"That the Company approve under Listing Rule 7.1 and Listing Rule 10.11 the issue to:

• OE Pty Limited (ACN 092 298 716), a company associated with Henry Preston, of $(a)$ 50,000,000 ordinary shares in the Company; and
• Henry Preston of 15,000,000 ordinary shares in the Company, each for an issue $(b)$ price of 2 cents per share, in lieu of the payment of cash due as interest to them, respectively, on the first interest payment date under "Stage Two" 2 cent Convertible Redeemable Notes referred to in Resolution 5".

7. Approval under Listing Rule 7.1 of Issue of Convertible Redeemable Notes- The Tesla Investments Trust

The following resolution will be put as an ordinary resolution:

"That the Company approve under Listing Rule 7.1 the issue to Rodney Adler as trustee of the Tesla Investments Trust 2,000,000 "Stage Two" 2 cent Convertible Redeemable Notes, each for an issue price of $1.00 per note".

8. Approval under Listing Rule 7.1 of Issue of shares in lieu of interest due under Convertible Redeemable Notes - The Tesla Investments Trust

The following resolution will be put as an ordinary resolution:

"That the Company approve under Listing Rule 7.1 the issue to Rodney Adler as trustee of the Tesla Investments Trust of 100,000,000 ordinary shares in the Company, each for an issue price of 2 cents per share, in lieu of the payment of cash due as interest to it on the first interest payment date under "Stage Two" 2 cent Convertible Redeemable Notes referred to in Resolution 7".

Approval under Listing Rule 7.1 of Issue of Convertible Redeemable Notes- Further 9. Convertible Redeemable Notes

The following resolution will be put as an ordinary resolution:

"That the Company approve under Listing Rule 7.1 the issue to the other subscribers referred to in the explanatory memorandum accompanying this notice of 1.478.755 "Stage Two" 2 cent Convertible Redeemable Notes, each for an issue price of $1.00 per note".

10. Approval under Listing Rule 7.1 of Issue of shares in lieu of interest due under Convertible Redeemable Notes - Other Subscribers

The following resolution will be put as an ordinary resolution:

"That the Company approve under Listing Rule 7.1 the issue to the other subscribers referred to in the explanatory memorandum accompanying this notice a total of 73,937,750 ordinary shares in the Company, each for an issue price of 2 cents per share, in lieu of the payment of the total amount of cash due as interest to them on the first interest payment date under the "Stage Two" 2 cent Convertible Redeemable Notes referred to in Resolution $9^{\prime\prime}$

11. Approval under Listing Rule 7.1 of Issue of Redeemable Preference Shares - TDH No. 2 Pty Ltd

The following resolution will be put as an ordinary resolution:

"That the Company approve under Listing Rule 7.1 the issue to TDH No. 2 Pty Ltd 37,500,000 ordinary shares at $0.08 conversion in lieu of 30,000 preference shares at $0.25 converting to ordinary shares".

By order of the Board

Nigel C Purves Company Secretary

Dated: 25th October 2003 Registered Office: Suite 410, 15 Lime Street SYDNEY NSW 2000

Note: A member of the Company who is entitled to attend and vote is entitled to appoint not more than two proxies to attend and vote in their place. Where more than one proxy is appointed, each proxy must be appointed to represent a specific portion of the member's voting rights. If you are unable to attend the meeting, you are requested to complete the Proxy Form enclosed with this document and return it to the Company as soon as possible and no later than 48 hours before the meeting.