RENT.COM.AU LIMITED — Capital/Financing Update 2007

Apr 18, 2007

COMPANY ANNOUNCEMENT $(ASK: SLT)$

ISSUE OF SHARES TO AVANT

Thursday 19^th April 2007

Select Vaccines Limited (ASX:SLT) is pleased to announce that today it issued 29,518,072 shares ("the Shares") to Avant Immunotherapeutics Inc ("Avant") in accordance with the terms of the Collaboration and Licensing Agreement ("the Agreement") the details of which were announced to ASX on 12 February 2007. In accordance with the Agreement, Avant agreed to make a subscription of US\$735,000 for the Shares. At today's exchange rate the issue price per Share was \$0.02965. The number of shares that have been issued to Avant constitute less than 15% of the company's issued capital.

At the Company's recent Annual General Meeting Shareholder approval was obtained for the share issue in accordance with Chapter 7 of the ASX Listing Rules. The anticipated issue price of \$0.032 that was disclosed to shareholders in the Notice of Meeting for the AGM is no longer accurate due to recent exchange rate fluctuations (specifically, strengthening of the Australian dollar against the US dollar). Accordingly, the Company will not rely upon the shareholder approval that was obtained for the issue to proceed at \$0.032 per share for the purposes of Chapter 7 of the ASX Listing Rules. The company is considering the possibility of seeking approval for the issue at the new price of \$0.02965 per share at a future meeting of shareholders.

$L f.$

Richard Wadley Company Secretary

About Select Vaccines Limited

Select Vaccines listed on the ASX on 3 July 2003. It is developing products which identify and protect against infectious diseases of global and national importance and which satisfy the needs of other pharmaceutical and biotechnology companies. Select Vaccines' pipeline includes products targeting 'flu, hepatitis C, and Malaria. It is in partnership with Melbourne's Burnet Institute to commercialize research outcomes in the area of infectious disease. The Burnet Institute, established in 1986, is Australia's leading research organization in the field of infectious diseases caused by viruses and other agents.

Further information can be found on the company's website: www.selectvaccines.com.au.

For further information: Martin Soust (Managing Director) 03 9529 8788

www.selectvaccines.com.au A.B.N. 25 062 063 692