RENT.COM.AU LIMITED — Capital/Financing Update 2004

Nov 29, 2004

COMPANY ANNOUNCEMENT

Agreement to acquire 100% of subsidiaries

30th November 2004, Melbourne, Australia: Select Vaccines Ltd. (ASX:SLT) is pleased to announce that it has reached agreement with the Burnet Institute to acquire the Burnet's 35% interest in Select's two subsidiary companies, Hepgenics Pty Ltd and Picoral Pty Ltd. Select Vaccines currently owns the balance of 65% of each company.

The acquisition will see the issue of a total of 4.0 million new shares and 2.0 million options in Select Vaccines to the Burnet Institute in exchange for their equity in Hepgenics and Picoral. These securities will be escrowed for 24 months from the date of issue. The options will be exercisable at the average prevailing market price at the time of issue. The transaction is subject to the finalisation of documentation.

The acquisition of the minority interests in its subsidiary companies has been made by Select Vaccines with the objective of maximising returns to Select Vaccines shareholders. Having 100% ownership of the subsidiary companies ensures that Select Vaccines has full control over their scientific and. particularly, commercial direction. In addition, and in the light of the recent out-licensing of Hepgenics' Hepatitis E diagnostic products and the substantial progress made with other products (most immediately the Hepatitis A and C diagnostics), the acquisition ensures that all upfront and royalty payments received by the subsidiaries will flow entirely to the benefit of shareholders in Select Vaccines.

From the Burnet Institute's perspective, as a significant incoming shareholder of Select Vaccines the transaction gives them a direct and long term interest in the future success of the Company.

Select Vaccines has also reached agreement with the Burnet regarding funding for the on-going R&D programmes of Hepgenics and Picoral. These arrangements will see the continuation of the previous year's successful development programmes through to December 2005, based on the achievement of quarterly milestones.

About Select Vaccines Limited

Select Vaccines listed on the ASX on 3 July 2003. It is in partnership with Melbourne's Burnet Institute to commercialise research outcomes in the areas of diagnosis, vaccination and therapy for infectious diseases caused by viruses.

The Burnet Institute, established in 1986, is Australia's leading research organisation in the field of infectious diseases caused by viruses and other agents.

Select has two project companies, Hepgenics Pty Ltd and Picoral Pty Ltd, which undertake different areas of research and development. Hepgenics is commercialising highly promising R&D projects in hepatitis diagnostics and vaccines developed by researchers at the Burnet Institute. Picoral's research interests cover the development of therapeutic products with actions against the picomavirus family, responsible for a range of illnesses that includes the common cold, meningitis and encephalitis.

ENDS

Further information Select Vaccines:

Dr Martin Soust, Managing Director

(03) 8508 8250

Mobile: 0412 442 844

Select Vaccines Limited ABN 25 062 063 692

Regd. Office: PO Box 46 Victoria 3143 Australia Telephone +613 9824 8166 Facsimile +613 9824 8161

www.selectvaccines.com.au