RENT.COM.AU LIMITED — AGM Information 2008

Mar 18, 2008

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CHAIRMAN’S AGM ADDRESS

Melbourne, Australia, 19 March 2008 . Looking back on the year, I would like to highlight the progress we have made as a company and the status of our operations today.

The Company’s aim is to bring our Virus-Like-Particle (VLP) vaccines to the clinic in the shortest possible time. During the year we have made significant progress towards this goal. The VLP vaccine manufacturing program was accelerated during the year and co-expression systems using both yeast and mammalian cell culture are near completion. These systems will provide scaled up production at Good Manufacturing Practice standards of the materials needed for preclinical toxicology studies and future clinical trials.

Late in 2007 we developed a second influenza VLP which we believe will generate significant interest from potential partners. The key benefits of this second ‘flu vaccine is that it may be complementary to our first ‘flu VLP vaccine and it has the potential to offer protection across a wider variety of ‘flu types.

Our partnering arrangement with AVANT Immunotherapeutics ceased in November when, due to strategic reasons arising from a merger and subsequent change of focus, AVANT terminated its license for the development of the pandemic influenza VLP vaccine. During the course of our relationship with AVANT, significant progress was made with the development program and we believe that Select is now in a stronger position to secure a license for its VLP vaccines on the basis of the work completed to date. The work funded by AVANT also benefited our other lead VLP vaccine candidate for Hepatitis C. Our Hepatitis C vaccine will be undergoing additional pre-clinical testing in 2008.

The Company continues to invest in its intellectual property portfolio. We have submitted new patent applications, which will increase the strength of our patent portfolio and also had a patent granted in Australia. We are committed to building this portfolio and to maintaining our patent applications as they progress through

the patent offices in various jurisdictions.

ABN 25 062 063 692
Suite 15, 545 St Kilda Rd
Melbourne Victoria 3004 Australia
Telephone +613 9529 8788 Facsimile +613 9529 2622

www.selectvaccines.com.au

We continue to monitor our operating costs and overheads. Due to a number of changes introduced by the Board during the year we have been able to contain costs across all aspects of our operations despite significant expansion of the R&D programs. Our cost containment program will continue to focus on administrative overheads as we expand our R&D operations and see an anticipated rise in the associated costs of these activities as our technologies develop further and our programs are advanced. We will investigate all opportunities for both equity and grant funding to continue to ensure we can fund the advances that will generate greater shareholder value.

Your company has made significant progress and Select is in an excellent position to move forward on the basis of developments over the past 12 months. As we move into 2008, several of our VLP vaccines are moving through the manufacturing development stages and we look forward to reporting the results to you in due course.

The meeting will proceed with a presentation by Dr Martin Soust, Select Vaccines’ Managing Director. The remainder of the formal business of the meeting will then follow.

ABN 25 062 063 692
Suite 15, 545 St Kilda Rd
Melbourne Victoria 3004 Australia

Telephone +613 9529 8788 Facsimile +613 9529 2622
www.selectvaccines.com.au