PYC THERAPEUTICS LIMITED — Director's Dealing 2010

Mar 16, 2010

Appendix 3Y

Change of Director’s Interest Notice

Name of entity PHYLOGICA LIMITED ABN 48 098 391 961

We (the entity) give ASX the following information under listing rule 3.19A.2 and as agent for the director for the purposes of section 205G of the Corporations Act.

Name of Director	PAUL MICHAEL WATT
Date of last notice	19 February 2010

Part 1 - Change of director’s relevant interests in securities

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

Note: In the case of a company, interests which come within paragraph (i) of the definition of “notifiable interest of a director” should be disclosed in this part.

Direct or indirect interest	INDIRECT
Nature of indirect interest	PAUL MICHAEL WATT AND		MARIA
(including registered holder)	DEL PILAR ENRIQUEZ-WATT
Note: Provide details of the circumstances giving rise to the relevantinterest.	ATF THE BRAINCHILD SUPER FUND
	INTEREST:TRUSTEE	&	FUND
	BENEFICIARY
Date of change	15 MARCH 2010
No. of securities held prior to change	DIRECT
	4,044,123 ORDINARY SHARES
	INDIRECT
	822,908 ORDINARY SHARES
	20,000 CONVERTIBLE NOTES
Class	ORDINARY SHARES
Number acquired	100,000
Number disposed	NIL
Value/Consideration	$9,628.46
Note: If consideration is non-cash, provide details and estimated
valuation
No. of securities held after change	DIRECT
	4,044,123 ORDINARY SHARES
	INDIRECT
	922,908 ORDINARY SHARES
	20,000 CONVERTIBLE NOTES

1

Nature of change ON MARKET PURCHASE OF SHARES Example: on-market trade, off-market trade, exercise of options, issue of securities under dividend reinvestment plan, participation in buy-back

Part 2 – Change of director’s interests in contracts

Note: In the case of a company, interests which come within paragraph (ii) of the definition of “notifiable interest of a director” should be disclosed in this part.

Detail of contract	Detail of contract	Detail of contract	N/A	N/A	N/A	N/A	N/A
Nature of interest
Name of registered holder(if issued securities)
Date of change
No. and class of securities towhich interest related prior tochangeNote: Details are only required for a contract in relationto which the interest has changed
Interest acquired
Interest disposed
	alue/ConsideraNote: If consideration is nn estimated valuation	tionon-cash, provide details and
	tt ft h
	neres aer c	nge

2

• See chapter 19 for defined terms.

Appendix 3Y Page

11/3/2002