SUREFIRE RESOURCES NL — Capital/Financing Update 2005

Oct 20, 2005

GENESIS BIOMEDICALE

5th Floor, 33 York St, SYDNEY 2000 Telephone 61-2-8916 6778 Facsimile 61-2-8916 6732

TO: COMPANY ANNOUNCEMENTS OFFICE COMPANY: AUSTRALIAN STOCK EXCHANGE LIMITED FROM: EMMANUEL CORREIA DATE: 21 OCTOBER 2005 No. PAGES: 1 (INCLUDING THIS COVER PAGE)

CAPITAL RAISING AND MEETING UPDATE

Further to the rights issue update provided to the market on 16 September 2005, and the requisition of meeting announcement made on 26 September 2005, Genesis today provides confirmation to the market that the Company will not be proceeding with a rights issue or any other form of capital raising at this time, and that the items requested to be considered by the shareholder requisition are to be considered at the Company's Annual General Meeting.

A Notice of Meeting and accompanying Explanatory Memorandum setting out the details and items to be considered at the Company's Annual General Meeting will be dispatched to shareholders by the week ending 28 October 2005.

As a result of the requisition received from shareholders, the current Board deems it appropriate to seek resolution in relation to the structure of the board prior to committing to any form of capital raising.