PRESCIENT THERAPEUTICS LIMITED — Capital/Financing Update 2005

Dec 15, 2005

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

Replacement of Appendix 3B lodged on 21st and 25th November 2005 New issue announcement. application for quotation of additional securities and agreement

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 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003.

Name of entity

Virax Holdings Limited

ABN

56 006 569 106

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

+Class of +securities issued $\mathbf{1}$

Ordinary Shares - Fully Paid

$\overline{2}$ Number of +securities issued or to be issued (if known) or maximum number which may be issued

25,632,950 Fully Paid VHL Shares

Principal terms of the +securities 3 (eg, if options, exercise price and expiry date; if partly paid *securities, the amount outstanding and due dates for payment; if +convertible securities, the conversion price and dates for conversion)

Pari Passu

+ See chapter 19 for defined terms.

4	Do the *securities rank equally in allrespects from the date of allotmentwith an existing "class of quoted*securities?	Fully Paid Rank Pari Passu
	If the additional securities do notrank equally, please state:the date from which they do۰which theyextent totheparticipate for the next dividend,(in the case of atrust,distribution) or interest paymentthe extent to which they do notrank equally, other than inrelation to the next dividend,distribution or interest payment
5	Issue price or consideration	Fully Paid Share $0.15/ share
6	Purpose of the issue(If issued as consideration for theacquisition of assets, clearly identifythose assets)	Capital Raising - Working Capital
7	Dates of entering *securities intouncertificated holdings	25 November 2005
8	Number*elass :ofandallASX.*securitiesquotedon(including the securities in clause2 if applicable)	Number93,987,4824,242,8758,544,317	* ClassFully Paid Ordinary SharesOptions (VHLOA)Options (VHLOB)

+ See chapter 19 for defined terms.

$\overline{Q}$ Number and +class of all *securities not quoted on ASX (including the securities in clause 2 if applicable)

Number	+ Class
3,206,750	Unlisted Options

10 Dividend policy (in the case of a trust, distribution policy) on the increased capital (interests)

Fully Paid Rank Pari Passu

Part 2 - Bonus issue or pro rata issue

$11$ Is security holder approval $No$ required? Is the issue renounceable or non-12 Non-renounceable renounceable? Ratio in which the $\pm$ securities will 13 3 new share for every 8 ordinary share 1 nil cost entitlement option for every 3 new shares be offered $14$ *Class of *securities to which the $\overline{\phantom{a}}$ Ordinary Shares offer relates 15 *Record date to determine | 5 December 2005 entitlements 16 Will holdings $different$ $N/A$ on registers (or subregisters) be aggregated for calculating entitlements? 17 Policy for deciding entitlements To round up fractions to the nearest whole in relation to fractions number The issue is only offered to security holders 18 Names of countries in which the entity has *security holders who residing in Australia and New Zealand will not be sent new issue documents Note: Security holders must be told how their entitlements are to be dealt with. Cross reference: rule 7.7. 19 Closing date for receipt of 17 January 2006 acceptances or renunciations

+ See chapter 19 for defined terms.

20	Names of any underwriters	N/A
21	Amount of any underwriting feeor commission	N/A
22.	Names of any brokers to the issue	Bell Potter Securities Limited
23	Fee or commission payable to thebroker to the issue	2.5% of the total amount of the funds raisedunder the offer
24	Amount of any handling feepayable to brokers who lodgeacceptances or renunciations onbehalf of *security holders	3.5% of the total amount of the funds raisedunder the offer
25.	If the issue is contingent on*security holders' approval, thedate of the meeting	N/A
26.	Date entitlement and acceptanceform and prospectus or ProductDisclosure Statement will be sentto persons entitled	7 December 2005
27.	If the entity has issued options,and the terms entitleoptionholders to participate on exercise,the date on which notices will besent to option holders	24 November 2005
28	Date rights trading will begin (ifapplicable)	N/A
29.	Date rights trading will end (ifapplicable)	N/A
30	How do "security holders selltheir entitlements in full through abroker?	N/A
31	How do "security holders sell part"of their entitlements through aaccept forbrokerandthebalance?	N/A

+ See chapter 19 for defined terms.

32 How do *security holders dispose of their entitlements (except by sale through a broker)?

33 +Despatch date $N/A$

25 January 2006

Part 3 - Ouotation of securities

You need only complete this section if you are applying for quotation of securities

34 Type of securities (tick one)

$(b)$

• Securities described in Part 1 $(a)$ $\mathbf{\bar{X}}$
  • All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

• If the "securities are "equity securities, the names of the 20 largest holders of the additional "securities, and the number and percentage of additional "securities held by those holders
• 36 If the *securities are *equity securities, a distribution schedule of the additional *securities setting out the number of holders in the categories $1 - 1.000$ $1,001 - 5,000$ $5,001 - 10,000$ $10,001 - 100,000$ 100,001 and over

37

35

A copy of any trust deed for the additional *securities

+ See chapter 19 for defined terms.

Entities that have ticked box 34(b)

3	Number of securities for which8 *quotation is sought
39.	Class of "securities for whichquotation is sought
40.	Do the 'securities rank equally in allrespects from the date of allotmentwith an existing "class of quoted*securities?
	If the additional securities do notrank equally, please state:the date from which they dowhichextentthe.tothey۰participate for the next dividend,οfthecase(inatrust,distribution) or interest paymentthe extent to which they do not۰rank equally, other than inrelation to the next dividend,distribution or interest payment
4Ŧ	Reason for request for quotationnow
	Example: In the case of restricted securities, end ofrestriction period
	upon conversion of(if issuedanother security, clearly identify thatother security)
4$\mathbf{2}$	Number and *class of all *securitiesquoted on ASX (including thesecurities in clause 38)	Number	+ Class

+ See chapter 19 for defined terms.

Ouotation agreement

• $\mathbf{I}$ *Quotation of our additional *securities is in ASX's absolute discretion. ASX may quote the *securities on any conditions it decides.
• $\overline{2}$ We warrant the following to ASX.
  • The issue of the "securities to be quoted complies with the law and is not for $\bullet$ an illegal purpose.
  • There is no reason why those *securities should not be granted *quotation.
  • An offer of the "securities for sale within 12 months after their issue will not require disclosure under section $707(3)$ or section $1012C(6)$ of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subscribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any *securities to be quoted and that no-one has any right to return any *securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the *securities be quoted.
• We warrant that if confirmation is required under section 1017F of the Corporations Act in relation to the *securities to be quoted, it has been provided at the time that we request that the "securities be quoted.
• If we are a trust, we warrant that no person has the right to return the $\bullet$ *securities to be quoted under section 1019B of the Corporations Act at the time that we request that the "securities be quoted.
• 3 We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
  • We give ASX the information and documents required by this form. If any 4 information or document not available now, will give it to ASX before *quotation of the *securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Richard de Nantour

Sign here:

...................................... (Director/Company secretary)

Print name: Richard de Lautour

+ See chapter 19 for defined terms.