PRO MEDICUS LIMITED — Capital/Financing Update 2004

Nov 28, 2004

450 Swan Street, Richmond, Victoria 3121, Australia

Telephone (03) 9429 8800 Fascimile (03) 9429 9455

www.promedicus.com.au

29th November 2004

Pro Medicus Wins $2.2M plus Canadian Digital Radiology project

• First Pro Medicus sale in North America
• Additional to A$10m Agfa North American deal announced October $\bullet$ 2004
• Installation to commence in December 2004
• Provides strategic reference sites for PME/Agfa assault on North American market
• Ongoing service fees to be in addition to $2.2M

Leading e-health company Pro Medicus (ASX:PME) today announced that it has signed an agreement worth over CA$2 million (A$2.2m) to supply its full suite of Practice Management and digital radiology integration products to AltaPACS, a company formed by Radiology Consultants Associated and EFW Radiology, the two largest private radiology partnerships in Calgary, Canada.

The agreement, the first for Pro Medicus in North America, is separate and in addition to the previously announced $10 million deal with Agfa and will provide key reference sites for the company in the North American market.

Under the terms of the agreement, Pro Medicus will implement its full suite of radiology products in over 20 AltaPACS diagnostic imaging sites throughout the Calgary region, with the first installation commencing in December 2004. Subject to the successful installation of the first site, implementation of the other sites is scheduled for completion prior to June 30, 2005.

Pro Medicus will receive approximately CA$2 million (A$2.2m) in licence and implementation fees, a substantial proportion of which is anticipated to be realised in the second half of the current financial year. The company also expects to generate further revenues (in addition to the $2.2M) in professional services and ongoing support fees over the next three years relating to the project.

Joe Moreau, AltaPACS president and CEO said "AltaPACS evaluated a number of Canadian and international software products before opting to go with Pro Medicus. The Practice Management capability of the Pro Medicus product meets and exceeds all of our immediate and longer-term requirements, and integrates seamlessly with Agfa's PACS offerings. Given the familiarity of the doctors with Agfa's PACS system, which is now used in Calgary hospitals. the robust integration of Agfa's PACS with Pro Medicus made the solution very compelling."

"Over time, our ability to implement a completely integrated digital environment - whether our doctors are working at a hospital or a clinic - will enable a higher level of efficiency and ultimately benefit our patients. While there are a number of Canadian-based RIS and PACS offerings, they could not offer us the degree of flexibility, integration and scalability for this future environment that we found with the Pro Medicus/Agfa solution," Mr Moreau said.

"The AltaPACS agreement is another huge step forward for our company," said Pro Medicus Managing Director Dr. Sam Hupert. "Not only is this significant for Pro Medicus in its own right, it will also provide our new partnership with Agfa invaluable reference sites in the North American private radiology market."

"Winning a large agreement with so many stringent and important requirements again confirms our long held belief that our product is truly world class. It gives us enormous confidence that the combined Pro Medicus/Agfa offering has the potential to quickly make major inroads into the vast North American market," Dr Hupert said. "We could not have asked for a better start."

For more information contact:

Dr. Sam Hupert Managing Director Pro Medicus Limited email: hupert@promedicus.com.au Phone: +61 3 9429 8800 Fax: +61 3 9429 9544 www.promedicus.com.au

Mike Feehan Monsoon Communications Phone: +61 3 9620 3333

About Pro Medicus:

Pro Medicus Limited [ASX: PME] is Australia's leading medical IT and e-health provider. Founded in 1983, the company provides a full range of integrated software products and services to individual, corporate and public health providers. Over 16,000 doctors are now connected to the company's ehealth service, promedicus net, with the number of transactions across the network between GPs and specialists growing strongly.

During 2003. Pro Medicus implemented its first overseas contract with the UK's MIA Lodestone and now has seventeen sites in the UK with opportunities for further overseas expansion.

Digital radiology, a key growth area for the company, has started to deliver strong results. Over the past year, several important digital radiology contracts have been won, significantly across different parts of the health system - the public sector, existing and new private radiology practices and with Mayne, one of the largest corporate radiology groups in the country.

In October, Pro Medicus signed a watershed three-year $10 million deal with Agfa to exclusively license the Pro Medicus Practice Management and digital radiology software products for the large and rapidly growing private imaging centre market in the US and Canada.

Earlier this year, the company entered the local GP clinical desktop market with the acquisition of software technology, which is being marketed as ProMed Clinical.

About AltaPACS:

AltaPACS, established in 2003, provides IT services to its shareholders and, in the future, to the broader community to implement, manage and support the key business processes of private radiology firms. The solutions are provided separately or as Application Service Provider services, and include Radiological Information Systems (RIS), Billing, Picture Archival and Communications Systems (PACS) and Voice Dictation Systems. This integrated solution set provides the necessary components of a completely digital environment, reducing overall costs while providing higher levels of effectiveness for radiologists and th