RENT.COM.AU LIMITED — AGM Information 2007

Mar 26, 2007

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Company Presentation

27 March 2007 - AGM

Developing products that target infectious diseases of global importance

Company Overview.

• Founded in 2003 (listed on ASX July 2003) $\bullet$ .
• Based in Melbourne, Australia $\bullet$ .
• · ASX Code: SLT
• Technology from the Burnet Institute $\bullet$
• $\cdot$ Board of 5
• Shares on issue: 225 million
• Number of shareholders: 1,650 approx. $\bullet$ .
• 12 staff (employees and under contract) substantial $\bullet$ research contract with the Burnet Institute

Current Position III

• $\sim$ \$7.4m market cap at a share price of 3.3c per share $\bullet$
• Twelve month share price high = 10c $\bullet$
• Twelve month share price low $=$ 2c $\bullet$
• Current cash = $$2.5m$ (31 Dec '06) $\bullet$
• Implied value of the company's technology $\sim$ \$5m $\bullet$
• Monthly cash burn currently = $$170k$ $\bullet$

ogress OvenPast 12 muis

• Virus-like particle (VLP) vaccines move further through $\bullet$ pre-clinical studies (2nd VLP patent application filed)
• Progressing with second generation HCV VLP vaccine
• Several possible manufacturers of our hepatitis C VLP $\bullet$ vaccine identified and pre-qualified
• Demonstrated that Malaria VLP vaccine produces a strong immune response in two animal species
• Completed development of two new rapid tests to proof- $\bullet$ of-concept stage (HIV and Syphilis)
• MoA and target identified in our anti-viral program (new $\bullet$ patent application filed)
• New licence signed with AVANT Immunotherapeutics, Inc. ۰ for the development of up to 3 vaccine products

• Based in Boston (MA) AVANT has extensive in-house $\bullet$ experience in vaccine development
• AVANT has a broad, well-staged pipeline, with six $\bullet$ products in clinical development
• Developed rotavirus vaccine and licensed it to GSK $\bullet$ (Rotarix®) - now earning royalties
• Has CholeraGarde® entering Phase III clinical trial and $\bullet$ Ty800 Typhoid Fever vaccine moving through Phase II trials
• Several other products under development
• Research facilities in Boston and in St Louis, MO $\bullet$
• Recently commissioned new GMP facility also in MA ۰
• They understand what it takes to develop a vaccine and they know the vaccine industry

Value Creation Opportunites

• Priority is vaccine development and exploitation of the $\bullet$ VLP platform
• Focus on collaboration and partnering to accelerate the $\bullet$ technology's development
• Third party licensees and development partners to be $\bullet$ targeted for various programs
• Specifically, vaccine companies for VLP program and drug developer for anti-viral program

Producin Developnen

• Hepatitis C vaccine E1E2-VLP vaccine $\bullet$
• Malaria vaccine MSP2 (and other vaccine candidates) $\bullet$ VLPs
• Influenza vaccine VLPs under development $\bullet$ (collaboration with AVANT Immunotherapeutics, Inc.)
• Anti-viral compounds Target ID, moving toward lead $\bullet$ selection phase
• RDTs to be placed into evaluation trials $\bullet$

WLP Vaccine Program

. . . . . . . . . . . . . . . . . . . .

Stage of Development		Market/Revenue Potential
		Modest	Medium (\$500m+)	High $(51b+)$
Marketed
Clinical Trials
Preclinical	Toxicity Test
	Process Devel.
	In vivo (animals)	Malaria	HOV
	In vitro (cells)	HIV		HUT

* - licensed product to AVANT Immunotherapeutics, Inc.

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Aniiviral Projectu

Our antiviral program focuses on development of drugs against picornavirus infections (estimated market >US\$400m encephalitis, meningitis, myocarditis and rhinovirus infections: $\sim$ 50% of common colds).

Anti-picornavirus Project

Diagnostics Program

Project	R&D in Select Vaccines			Commercialisation by third party
	Proof of concept	Performance	Technology transfer	manufacture	Trials & regulatory approval	Product rekaase
HEV IgM rapid test
HEV IgM ELISA
HAV IgM rapid test
Syphilis IgM rapid test
HIV rapid test
Avian flu rapid test
					_# _____

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Patent Status Marine

Patent utile	Country	Status as at 24 March 2007
Viral vector	International (PCT)	International Phase completed
	Australia, Europe, P.R.China, United States	$Live - pending$ Entered National Phase
Viral vector II	Australia	Filed 31 Aug 2006 Due for completion by 30 Aug 2007
Binding Assay Components	International (PCT)	Clear Written Opinion issued 25 Oct 2005 Proceed with National/Regional Phase
	Australia, Brazil, Europe, Japan, P.R.China, United States -	$Live - pending$
Method of diagnosis and kit therefor	United States	$Live - pending$
Peptides and Methods of Using Same	International (PCT)	Clear Written Opinion issued 7 March 2006- Due to enter National/Regional Phase by 23 May 2007
Anti-viral Compounds	International (PCT)	International phase compete
	Australia, Canada, Europe, New Zealand, P.R.China, United States	$Live - pending$
A method of drug design	Australia	Filed 13 Dec 2006 Due for completion by 13 Dec 2007

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The AVANTIDeal

• License is for 3 products the first is 'flu with total $\bullet$ milestone payments ~A\$44m (over time). Second and third products have same payment schedule
• Royalties due on sales of product(s)
• Select retains the rights to 3 VLP vaccines hepatitis C, malaria and HIV
• R&D performed in parallel by Select and AVANT with upside coming from knowledge garnered from parallel programs
• ~A\$940k invested to become 11.5% (cornerstone) shareholder (at 3.2 cents per share)
• Substantial R&D funding over 2 years (A\$650k committed by AVANT for first year)
• Funding helps strengthen the R&D program

Keykcompany Activities

In addition to our work with AVANT we are aiming to:

• Develop a stable system of expression of our VLPs (a key step in moving towards a "commercially-viable" product)
• Secure additional funding for the VLP program
• Move the anti-viral compounds to lead selection stage $\bullet$
• Complete production of sample diagnostic tests for $\bullet$ evaluation by potential third party licensees
• Put a 2nd cornerstone investor onto the register $\bullet$ .
• Launch a share purchase plan (SPP) $\bullet$
• Following the SPP, provide those shareholders still $\bullet$ holding a "small parcel" of shares with a viable opportunity to sell their shares

Future Directions

Vaccine Development

• Hepatitis C, malaria, influenza
• Vaccine development to be undertaken with partners aim is to get the vaccines into clinical trials
• If possible, "free" funding to support the vaccine program
• Development and license partners to be sought

Anti-viral Drug Development

Lead selection phase to be completed in 2007. Seeking a drug development partner for this program

Diagnostics Development

Development partners for new tests (following successful pilot study evaluation) – partner to have manufacturing and distribution capabilities

The Value Proposition

• Market valuation of the company's pipeline is currently $\bullet$ quite low
• Near term milestones will build considerable extra value $\bullet$ in the technologies under development
• Multiple product opportunities $\bullet$
• Highly respected research partners and licensees $\bullet$
• Vaccine co's and pharmaco's have these products in $\bullet$ their sights
• The company is focused on building value (not just $\bullet$ technology development)

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Enclosed (Stephender

Company Presentation

Position AfterAGM

• $\cdot$ ~255m shares on issue
• AVANT Immunotherapeutics owns $~11.5\%$ $\bullet$
• Additional \$940k cash through AVANT's equity purchase $\bullet$