RENT.COM.AU LIMITED — Capital/Financing Update 2005

Aug 7, 2005

ASX ANNOUNCEMENT

SELECT VACCINES LANDS KEY OVERSEAS LICENSING DEAL FOR ITS WORLD FIRST HEPATITIS A DIAGNOSTIC TESTS

Key Points:

• Select Vaccines has finalised a key overseas agreement to license its Hepatitis A virus rapid diagnostic technology
• Select Vaccine's technology has been licensed exclusively to Rapid Medical Diagnostic Corporation of Florida, USA
• Revenue to Select will consist of milestone payments and on-going royalty fees over the next 13 years
• Rapid Medical Diagnostic Corporation is well placed to manufacture and distribute Select's technology worldwide.

8 August 2005: Select Vaccines Ltd (ASX:SLT) has successfully concluded arrangements to license on an exclusive basis the manufacture and global marketing and distribution of its rapid Hepatitis A diagnostic technology to Rapid Medical Diagnostic Corporation of Florida, USA (RMD). Select Vaccines has retained the distribution rights for the test in Australia and New Zealand.

Select Vaccines will derive milestone payments and ongoing royalty payments from product sales over the next 13 years. The milestone payments in the agreement are linked to RMD obtaining regulatory approval in specified jurisdictions, including the USA, the EU and China. Select Vaccines' royalty payments are based on a high single digit percentage of the total net revenue generated by the product.

It is estimated there are more than 30 million Hepatitis A cases diagnosed across the world each year. Tens of millions of doses of Hepatitis A vaccine are delivered each year currently generating annual sales in excess of US$400m. These figures provide a direct indication of the scale and importance of the disease.

Over the next few years RMD expects to rapidly build sales of the Hepatitis A diagnostic test. Performance requirements are specified in the license agreement and include a minimum net sales target of more than $US3 million per year within 4 years. Production of the diagnostic tests will commence immediately after the transfer of the technology from Select Vaccines. Sales are expected to commence as soon as regulatory requirements are met.

Select Vaccine's diagnostic technology enables highly accurate diagnosis of acute infection with the Hepatitis A virus with $>95%$ sensitivity (correct diagnosis of positive samples) and $>97%$ specificity (correct diagnosis of negative samples). The assay is specific for Hepatitis A 1gM antibodies, the antibodies produced by the body immediately after infection.

Dr Martin Soust, Managing Director of Select Vaccines said "Currently there are only laboratorybased tests available to diagnose Hepatitis A viral infections which simply cannot be used where there aren't established laboratories. Our rapid tests can be utilised in the field or in the clinic. which opens up new markets for this type of diagnostic test, and they perform as well as or better than existing lab tests. There are important reasons to diagnose this highly infectious disease as quickly and specifically as possible since outbreaks of the disease and local epidemics can be prevented. Following accurate diagnosis management of the disease is achieved through the use of vaccines or immunoglobulin to prevent further transmission."

"The completion of this transaction is an important step forward for Select Vaccines. This is the Company's third product license agreement and it payes the way for the company to capture more value from its diagnostic development capabilities through the retention of specific distribution rights. We now have another license partner who will be selling product using our technology and we are confident we will see sales of many millions of tests. This is the second world-first rapid test produced by Select Vaccines and we will continue doing this type of development to break into new markets with other new tests.

"Rapid Medical Diagnostic Corporation has manufacturing and development facilities in Miami and an extensive manufacturing facility in Panama. These facilities are capable of producing tens of thousands of these tests per week and are scaleable so that increasing demand will be able to be satisfied without delay." Dr Soust added.

Rapid Medical Diagnostic Corporation has indicated their selling prices will range from about US$1 per unit to as high as US$3 per unit, depending on which of their patented rapid test platforms is used. Each platform is designed for specific markets.

"We are very pleased with this agreement as Rapid Medical Diagnostic Corporation has a strong presence in countries where the rate of infection is high. They have a commitment to launching the product in developed countries, including the US, as well as developing nations. We have built a strong working relationship with them as a result of the lengthy evaluation and licensing process." Dr Soust added.

The President of Rapid Medical Diagnostic Corporation, Mr Larry Salvo said "as a US-based" company we have a strong sales presence in North America but we also have established channels in Central and South America, Asia and Europe. We are excited about launching this world-first product as it fits our company's strategy well, combining our first-class patented assay housings and substantial manufacturing capabilities with an outstanding new diagnostic test".

About Select Vaccines Limited

Select Vaccines 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 full-owned project companies, Hepgenics Pty Ltd and Picoral Pty Ltd, which undertake different areas of research and development and commercialisation. Hepgenics is commercialising highly promising R&D projects in diagnostics and vaccines. Picoral's research pipeline covers the development of therapeutic products targeting a range of illnesses that include the common cold, meningitis and encephalitis.

See www.selectvaccines.com.au for further information.

About Rapid Medical Diagnostics

Rapid Medical Diagnostic is headquartered in Florida. USA with extensive facilities also in Panama. The company is developing and produces rapid tests for a range of diseases including HIV, TB, West Nile Virus and various sexually transmitted diseases. It has sales offices across the Americas and distributors servicing Europe, Africa and Asia. Product development occurs in Miami, Florida, with manufacturing occurring in Panama. Currently, the operations in Florida are being expanded to accommodate further manufacturing capabilities.

For further information see www.rapidbloodtests.com

About Hepatitis A

Hepatitis A is a highly infectious liver disease caused by the Hepatitis A virus. Hepatitis A can affect anyone. Hepatitis A can occur in situations ranging from isolated cases of disease to widespread epidemics. Vaccines are also available for long-term prevention of Hepatitis A virus infection in persons 2 years of age and older. Immunoglobulin is available for short-term treatment of Hepatitis A virus infection in individuals of all ages. In developed countries the case-fatality rate for symptomatic hepatitis A among persons of all ages with acute Hepatitis A is reported to be 0.3% and the rate is 1.8% among adults greater than 50 years of age. Between 11% and 22% of persons who have Hepatitis A are hospitalised. The estimated annual direct and indirect costs of Hepatitis A in the United States alone are approximately US$300 million.

ENDS

Martin Soust (Managing Director, Select Vaccines) 03 8508 8250

Tim Allerton (City PR) 02 9267 4511