PYC THERAPEUTICS LIMITED — Major Shareholding Notification 2012

Jan 12, 2012

$13 - 01 - 12$ ; $12:25$	$\rightarrow$		$\ddot{ }$ 1/3 #
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To:	ASX Company Announcements Platform	Fax:	1300 135 638
	&
	Graeme Raymond Boden, Company Secretary	Fax:	(08) 9284 3801
	Phylogica Limited [PYC]
From:	Scott Martin	Fax:	(02) 8225 5114
	Citigroup Global Markets Australia Pty Limited
Date:	13 January 2011	Pages:	3 (including cover sheet)
Subject:	Submission of Form 604 re: Phylogica Limited [PYC]

If you do not receive all pages, please telephone on 61 2 8225 1472 This fax is confidential and may be privileged. If you are not the intended recipient, please notify the sender immediately by telephone.

Notice of change of interests of substantial shareholder

Form 604 Corporations Law Section 671B

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To: Phylogica Limited ("PYC"), Ordinary Fully Paid

$1.$ Details of substantial shareholder

Citigroup Global Markets Australia Pty Limited (ACN 003 114 832) and each of the related bodies corporate in the Citigroup group of companies worldwide (for more details please visit www.citigroup.com).

The previous notice was dated and given to the company on 26 May 2011.

$2.$ Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate had a relevant interest in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Class of securities	Previous notice	Present notice
	Person's votes	Voting power	Person's votes	Voting power
PYC, Ordinary Fully Paid	40,887,374	10.091%	49,676,929	11.141%

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

Date of change	Person whose relevant interest changed	Nature of change	Class and number of securities affected
11 Jan 2012	Citigroup Global Markets Limited	Citigroup Global Markets Limited increased holding in shares solely in its capacity as Prime Broker with power to control the disposal of the shares.	8,789,555 PYC, Ordinary Fully Paid
11 Jan 2012	Citigroup Global Markets Australia Pty Limited	Citigroup Global Markets Australia Pty Limited no longer holds a relevant interest in these shares and disposed of these in the ordinary course of business on a stock market of a stock exchange.	40,000 PYC, Ordinary Fully Paid

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Date of change Person whose		Nature of change	Class and number of
	relevant interest		securities affected

	changed
11 Jan 2012	Citigroup Global Markets Limited	Citigroup Global Markets Limited holds a relevant interest in these shares solely in its capacity as Prime Broker with power to control the disposal of the shares.	49,676,929 PYC. Ordinary Fully Paid

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5. Changes in association

The persons who have become associates of, ceased to be associates of, or have changed the nature of their association with, the substantial holder in relation to voting interests in the company or scheme are as follows:

Name	Nature of Association
Citigroup Global Markets Limited	Each of the related bodies corporate in the Citigroup group of companies worldwide (for more details please visit
	www.citigroup.com ).
Citigroup Global Markets	Each of the related bodies corporate in the Citigroup group of
Australia Pty Limited, ACN	companies worldwide (for more details please visit
003 114 832	www.citigroup.com ).

6. Addresses

The addresses of persons named in this form are as follows:

Name	Address
Citigroup Global Markets Limited	Citigroup Centre
	33 Canada Square
	London, E14 5LB
Citigroup Global Markets Australia Pty	Level 22, Citigroup Centre
Limited	2 Park St
	Sydney NSW 2000

Dated this day 13 Jan 2012.

Scott Martin Citigroup Global Markets Australia Pty Limited