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

May 12, 2005

COMPANY ANNOUNCEMENT

Select Vaccines Capital Raising Closed

Melbourne, Australia. 13th March 2005. The Company has closed its current capital raising. As reported on 29th April, the Company issued 3.74 million new shares at an issue price of 42 cents per share and raised a total of $1.6 million. Whilst this sum was lower than expected, the Company's plans to raise additional funds were affected by the recent market downtown and a decision was therefore made to close the offer. The offer had no minimum subscription. Following this capital raising, the Company has sufficient funding for current operations well into 2006, without taking into account anticipated revenue including licensing income and grant applications. The Company is also confident of raising further funds through the conversion of options over the balance of 2005.

ENDS

Background

Select Vaccines Limited (ASX:SLT) 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, to deal with different areas of research and development. Hepgenics is commercialising highly promising R&D projects in diagnostics and vaccines developed by researchers at the Burnet Institute. Picoral's research interests cover the development of therapeutic products with actions against the picornavirus family, responsible for a range of illnesses that includes the common cold, meningitis and encephalitis. For more information, please visit www.selectvaccines.com.au.

Company information:

Dr Martin Soust, Managing Director, Select Vaccines Tel: 03 8508 8201