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

Apr 15, 2004

16 April 2004

ASX ANNOUNCEMENT

Placement to raise \$1.8 million

Select Vaccines Limited (ASX: SLT) wishes to announce the private placement to sophisticated and professional investors of up to 6 million shares at 30 cents (\$0.30) each to raise additional capital to be put towards the Company's research and development programme. The placement is being co-managed by Shaw Corporate Finance Pty Ltd and Peregrine Corporate Limited and is subject to shareholder approval. A Notice of Annual General Meeting at which this approval will be sought will be released shortly. The capital raised will be directed towards the Company's expanding infectious disease diagnostic product portfolio and its vaccine and anti-viral programmes. These operate through the Company's two subsidiary companies, Hepgenics Pty Ltd and Picoral Pty Ltd.

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 formed two project companies, Hepgenics Pty Ltd and Picoral Pty Ltd, to 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) 9824 8166

Mobile: 0412 442 844