RENT.COM.AU LIMITED — AGM Information 2004

May 18, 2004

Select Vaccines Limited

Focused on the control of infectious disease

Presentation to Annual General Meeting

19 May 2004

Topics to be covered

• Overview
• Structure
• Financial snapshot
• Commercial strategy
• Intellectual property portfolio
• Product pipeline
• Diagnostic products

Overview

• Select is focused on the control of infectious diseases - R&D partnership with the Burnet Institute
• Select has three main areas of interest: - Diagnostics, Vaccines, Therapeutics
• Select has developed diagnostic products with immediate commercial prospects

Burnet Institute

Team

• Board
• Dr Ian Cooke
• Mr Jeremy Cooper
• Mr Peter Marks
• Dr Martin Soust
• Mr George Weber

Non-Executive Director Executive Director Executive Director Executive Director and CEO Non-Executive Director

• Management
• Dr Martin Soust
• Dr David Anderson
• Dr Anthony Filippis
• Ms Catriona King

CEO Chief Scientific Officer Vice President, Business Development Projects Manager

Financial snapshot

• Listed July 2003 at 20c (SLT) with 1-for-2 free option (SLTOA)
• 31.4 million shares (3.0 million escrow to 07/05)
• 6.3 million listed options (SLTOA, 20c, 31/05/08)
• 7.6 million listed options (SLTO, 80c, 01/02/07)
• \$9.4 million market cap. (at 30 cents)
• \$2.1 million cash at bank
• 8 cents NTA per share
• 1,555 shareholders

*Figures are post-capital raising as announced on 16 April 2004

Commercial strategy

• Select's strategy is to out-license its technology to major international partners for distribution and marketing
• Select's business model is simple
• Generate revenue from
  • Upfront payments
  • Milestone payments
  • Ongoing royalty payments
• Select expects to generate revenues from sales of its Hepatitis E and A diagnostics commencing calendar 2004 SelectVac

Intellectual property portfolio

Patent	Priority Date
Immunoreactive antigens of Hepatitis E virus (Granted)	24 September 1993
Anti-Viral Compounds (PCT)	31 January 2002
Viral Vector (PCT)	17 April 2003
Binding assay components (Priority)	7 November 2003

Product pipeline

Vaccine program

• Virus-like Particles developed for Hepatitis B, Hepatitis C, malaria and measles vaccines
• Progressing into animal model studies

Therapeutic program

• Antivirals targeted at viruses causing meningitis, encephalitis, myocarditis
• Six active antiviral compounds identified
• Selection of lead compound underway

Estimated timelines

Diagnostic products

Next generation diagnostics for hepatitis

Market

• Hepatitis E
• $-$ Endemic in developing countries
• $-$ Frequent epidemics
• $-$ No rapid diagnostic available
• $-$ >20% mortality in pregnant women
• Vaccine (GSK) under development
• Hepatitis A
• $-$ Global
• Approximately one-third of developed world populations have been infected
• 1.5M new clinical cases per year in USA alone
• No rapid diagnostic or screening assays available $\overline{\phantom{m}}$
• $-$ Excellent vaccine available
• Hepatitis C
• Globally 170M cases
• $-$ 3-4M new cases per year
• No acute, rapid diagnostic available; large screening market $\overline{\phantom{0}}$
• Up to 80% of infections result in chronic infection
• $-$ No vaccine available

Challenges in diagnosing hepatitis

• Detection of antibody to each hepatitis virus is required
• IgG antibody: current or past infection, immunity
• IgM antibody: current infection
• Laboratory-based (ELISA) assays; venous blood, paperwork, days, re-visit
• Rapid assays are ideal; finger prick sample, <10 min to result, easily visible, point of care
• A novel approach was needed

Our solution

• Select's novel technology, combined with existing rapid diagnostic platforms
• Highly reactive antigens; matching monoclonal antibodies
• Novel assay design
• Differentiates between current and past infection
• Low cost
• Highly accurate results

Hepatitis C

• Six month development programme underway with major international partners
• Optimal antigens identified
• Suitable monoclonal antibody identified
• ELISA results suggest that strong reactivity wil be seen in rapid assay
• Diagnostic and screening tests being developed

Select Vaccines Limited

Suite 2, 1233 High Street Armadale, Victoria 3143 Australia

$T + 61398248166$ F +61 3 9824 8161

$E$ info@selectvaccines.com.au

W www.selectvaccines.com.au