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

May 20, 2004

Rule 2.7, 3.10.3, 3.10.4, 3.10.5

Appendix 3B

New issue announcement, application for quotation of additional securities and agreement

Information or documents not available now must be given to ASX as soon as available. Information and documents given to ASX become ASX's property and may be made public.

Introduced 1/7/96. Origin: Appendix 5. Amended 1/7/98, 1/9/99, 1/7/2000, 30/9/2001, 11/3/2002, 1/1/2003.

Name of entity

Select Vaccines Limited

ABN

25 062 063 692

We (the entity) give ASX the following information.

Part 1 - All issues

You must complete the relevant sections (attach sheets if there is not enough space).

• $\mathbf{1}$ ⁺Class of ⁺securities issued or to be issued
• Number of *securities issued or to $\overline{2}$ be issued (if known) or maximum number which may be issued

	a) Ordinary Shares
	b) Ordinary Shares
	c) Options
	d) Options
	aaa aan

	a) $6,000,000$
	b) $568,828$
	c) $700,000$
d).	150,000

⁺ See chapter 19 for defined terms.

• Principal terms of the ⁺securities (eg, $\overline{3}$ if options, exercise price and expiry date; if partly paid *securities, the amount outstanding and due dates payment; if $f_{OF}$ *convertible securities, the conversion price and dates for conversion)
• a) Pari passu with existing ordinary shares $(SLT)$
• b) Pari passu with existing ordinary shares $(SLT)$
• c) Pari passu with existing quoted options (SLTOA)
• d) Unlisted options, exercisable at \$0.30 on or before 30 April 2008

⁺ See chapter 19 for defined terms.

$\overline{4}$ Do the ⁺securities rank equally in all respects from the date of allotment with an existing ⁺class of quoted *securities?

If the additional securities do not rank equally, please state:

• the date from which they do
• the extent to which they participate for the next dividend. (in the case of a trust. distribution) or interest payment
• the extent to which they do not rank equally, other than in relation to the next dividend. distribution or interest payment

• Issue price or consideration 5

• Yes $a$ )

• b) Yes
• $c)$ Yes

• d) Yes, upon exercise

• \$0.255 per share $(15%$ discount to the $\mathbf{a}$ volume weighted average price per share over the five trading days prior to the AGM dated 19 May 2004)

• b) $$0.255$ per share $(15\%$ discount to the volume weighted average price per share over the five trading days prior to the AGM dated 19 May 2004)
• c) $$0.16$ per option
• d) Nil
• 6 Purpose of the issue (If issued as consideration for the acquisition of assets, clearly identify those assets)

$\overline{7}$ Dates of entering *securities into uncertificated holdings $\Omega$ F despatch of certificates

• a) As per approved Resolution 6 of the Annual General Meeting dated 19 May 2004
• b) To accommodate oversubscription under ASX Listing Rule 7.1
• c) As per approved Resolution 5 of the Annual General Meeting dated 19 May 2004
• d) As per approved Resolution 8 of the Annual General Meeting dated 19 May 2004
• a) 21 May 2004 b) 21 May 2004
• c) 21 May 2004
• d) 21 May 2004

Number

⁺Class

⁺ See chapter 19 for defined terms.

8	Number and class of all securities quoted on ASX (including the securities in clause 2 if applicable)	28,199,799	Ordinary Shares (SLT)
		7,637,987	Options exercisable at \$0.80 on or before 1 February 2007 (SLTO)
		6,955,833	Options exercisable at \$0.20 on or before 31 May 2008 (SLTOA)

$\div$ See chapter 19 for defined terms.

		Number	+ Class
9	Number and + class of all +securities not quoted on ASX (including the securities in clause 2 if applicable)	3,000,000	Ordinary Shares, escrowed until 3 July 2005 (SLTAI)
		6,750,000	Options exercisable at $$0.20$ on or before $31$ May 2008, escrowed until $3$ July 2005 (SLTAM)
		2,000,000	Options exercisable at $$0.20$ on or before $30$ June 2006, escrowed until $27$ June 2004 (SLTAK)
		150,000	Options exercisable at $$0.30$ on or before $30$ April 2008

$10₁₀$ Dividend policy (in the case of a $\left[$ trust, distribution policy) on the increased capital (interests)

Unchanged

Part 2 - Bonus issue or pro rata issue

$\mathbf{1}$	security holder Ĭs. approval required?
12.	Is the issue renounceable or non- renounceable?
13	Ratio in which the "securities will be offered
14	Class of securities to which the offer relates
15	determine *Record date $\mathfrak{t}_0$ entitlements
16	Will holdings on different registers (or subregisters) be aggregated for calculating entitlements?

⁺ See chapter 19 for defined terms.

Appendix 3B New issue announcement

• Policy for deciding entitlements in $17$ relation to fractions
• $18\,$ Names of countries in which the entity has *security holders who will not be sent new issue documents

Note: Security holders must be told how their entirlements are to be dealt with.

Cross reference: rule 7.7.

19 Closing date for receipt $\sigma$ f acceptances or renunciations

⁺ See chapter 19 for defined terms.

20	Names of any underwriters
21	Amount of any underwriting fee or commission
22	Names of any brokers to the issue
23	Fee or commission payable to the broker to the issue
24	any handling Amount of fee payable to brokers who lodge acceptances or renunciations on behalf of *security holders
25	If the issue is contingent on "security holders' approval, the date of the meeting
26	Date entitlement and acceptance form and prospectus or Product Disclosure Statement will be sent to persons entitled
27	If the entity has issued options, and the terms entitle option holders to participate on exercise, the date on which notices will be sent to option holders
28	Date rights trading will begin (if applicable)
29	Date rights trading will end (if applicable)
30	How do *security holders sell their entitlements in full through a broker?
31	How do "security holders sell part of their entitlements through a broker and accept for the balance?

⁺ See chapter 19 for defined terms.

• 32 How do *security holders dispose of their entitlements (except by sale through a broker)?
• 33 ^#Despatch date

Part 3 - Quotation of securities

You need only complete this section if you are applying for quotation of securities

• 34 Type of securities (tick one)
• Securities described in Part 1 $(a)$
• $(b)$

All other securities

Example: restricted securities at the end of the escrowed period, partly paid securities that become fully paid, employee incentive share securities when restriction ends, securities issued on expiry or conversion of convertible securities

Entities that have ticked box 34(a)

Additional securities forming a new class of securities

Tick to indicate you are providing the information or documents

• 35 If the *securities are *equity securities, the names of the 20 largest holders of the additional "securities, and the number and percentage of additional "securities held by those holders 36
• If the *securities are *equity securities, a distribution schedule of the additional *securities setting out the number of holders in the categories $1 - 1,000$ $1,001 - 5,000$ 5,001 - 10,000 $10,001 - 100,000$ 100,001 and over

37

A copy of any trust deed for the additional *securities

⁺ See chapter 19 for defined terms.

Entities that have ticked box 34(b)

• 38 Number of securities for which ^*quotation is sought
• Class of ⁺securities for which 39 quotation is sought
• $\Delta\Omega$ Do the ⁺securities rank equally in all respects from the date of allotment with an existing ⁺class of quoted *securities?

If the additional securities do not rank equally, please state:

• the date from which they do $\bullet$
• the extent to which they participate for the next dividend, (in the case of a trust. distribution) or interest payment
• the extent to which they do not $\bullet$ rank equally, other than in relation to the next dividend, distribution or interest payment
• 41 Reason for request for quotation now

Example: In the case of restricted securities, end of restriction period

(if issued upon conversion of another security, clearly identify that other security)

$42^°$ Number and ⁺class of all ⁺securities quoted on ASX (including the securities in clause 38)

Number	+ Class

Quotation agreement

• $\overline{\phantom{a}}$ ⁺Quotation of our additional ⁺securities is in ASX's absolute discretion. ASX may quote the *securities on any conditions it decides.
• $\overline{2}$ We warrant the following to ASX.
• The issue of the *securities to be quoted complies with the law and is not for an illegal purpose.
• There is no reason why those *securities should not be granted *quotation. $\bullet$
• An offer of the "securities for sale within 12 months after their issue will not require disclosure under section $707(3)$ or section $1012C(6)$ of the Corporations Act.

Note: An entity may need to obtain appropriate warranties from subseribers for the securities in order to be able to give this warranty

• Section 724 or section 1016E of the Corporations Act does not apply to any applications received by us in relation to any *securities to be quoted and that no-one has any right to return any *securities to be quoted under sections 737, 738 or 1016F of the Corporations Act at the time that we request that the *securities be quoted.
• We warrant that if confirmation is required under section 1017F of the $\bullet$ Corporations Act in relation to the +securities to be quoted, it has been provided at the time that we request that the *securities be quoted.
• If we are a trust, we warrant that no person has the right to return the *securities to be quoted under section 1019B of the Corporations Act at the time that we request that the "securities be quoted.

⁺ See chapter 19 for defined terms.

• $\overline{3}$ We will indemnify ASX to the fullest extent permitted by law in respect of any claim, action or expense arising from or connected with any breach of the warranties in this agreement.
• We give ASX the information and documents required by this form. If any $\overline{4}$ information or document not available now, will give it to ASX before *quotation of the *securities begins. We acknowledge that ASX is relying on the information and documents. We warrant that they are (will be) true and complete.

Sign here:

Date: 21 May 2004 Company secretary

Print name:

Phillip Hains

$= 1$

⁺ See chapter 19 for defined terms.