SPENDA LIMITED — Capital/Financing Update 2005

Oct 17, 2005

COMPANY ANNOUNCEMENT

Premier Bionics to list on AIM

18th October 2005: Premier Bionics is pleased to announce that it is to seek a listing of the Company's securities on the Alternative Investment Market (AIM). In accordance with AIM rules, the Company has today released to the London Stock Exchange a 20 business day notice of its intention to seek admission on AIM ("Admission").

The Company's ordinary shares (ASX : PBI) and listed options (ASX : PBIO) will continue to be traded on the ASX. Following Admission, they will also be traded on AIM. It is expected that Admission will take place on or around 16th November 2005.

Further information regarding the Company's Admission to AIM can be found in the Pre-Admission Announcement and Appendix, both of which have been submitted to the London Stock Exchange and are available, together with further information, at www.premierbionics.com.au.

Premier Bionics is seeking dual listing on AIM for a number of key strategic reasons. In particular, significant growth opportunities have been identified for the company's 100% owned subsidiary Medic Vision. Medic Vision is embarking upon an expansion of sales of its virtual reality surgical simulators and skills centre development projects in the UK and European markets as part of its positioning to become a leader in this emerging field.

The dual listing of Premier Bionics shares on AIM will result in greater international exposure for the Company and offers the opportunity to gain direct access to the United Kingdom's capital markets. Corporate Synergy Plc has been appointed NOMAD/Broker. Over the next few weeks the Company will be making available to all shareholders additional information in respect of this important phase in its development.

For further information contact:

Peter Marks. Executive Chairman: 03 9824 8166 CEO, Medic Vision: 0400 209 899 Ross Horley,

Background on Premier Bionics

Premier Bionics was formed in December 2001 to invest in advanced, Australian-based research in medical devices and diagnostics. The company listed on the Australian Stock Exchange (ASX: PBI) in May 2002.

Premier Bionics' first investment was PulmoSonix Pty Ltd, a company formed to develop technology developed at Monash University's Ritchie Centre for Baby Health Research. Premier Bionics was also granted a 7-year exclusive right of first review, evaluation and commercialisation of technology produced by researchers at the Ritchie Centre in the field of respiratory disorders, sleep apnea and other sleep disorders, and chronic lung disease. Premier Bionics' second investment was made in April 2005 with the acquisition of Medic Vision Limited.

See www.premierbionics.com.au for more details.