Life Therapeutics Appoints New Chief Financial Officer.

ATLANTA -- Life Therapeutics (ASX:LFE) is pleased to announce the appointment of Subhash C. Sarda to the role of Chief Financial Officer (CFO). Mr. Sarda is a seasoned CFO and previously held the CFO role of a US listed biotechnology company. He will be responsible for implementing the financial strategic plan, and completing the Company's listing on the NASDAQ.

Mr. Sarda will report to the CEO, Dr. Hari Nair. "Subhash is known to the Street which will help us as part of our US NASDAQ listing," said Dr. Hari Nair CEO of Life Therapeutics. "He also has banking and other financial relationships which are important in our current acquisition phase," said Dr. Nair.

Sarda began his career at Ernst and Young in London, and then progressed through various financial management positions with U.S. multinationals predominantly in the healthcare segment. Most recently, he served as CFO for NASDAQ listed Novoste Corporation, a medical device global manufacturer of cardiovascular products based in Norcross, Georgia. Novoste's vascular brachitherapy business was recently acquired by Best Vascular Inc. in a multimillion dollar deal. Sarda brings to Life Therapeutics a solid background in merger and acquisitions, joint ventures, and the execution of multi-million dollar lines of credit with financial institutions.

A Chartered Accountant (United Kingdom) and a Certified Management Accountant, Sarda has a B.A. in Accounting, and an Executive MBA in Finance.

Ms. Helen Nasser has been promoted into the operational role of Executive Vice President of Life Sera - the plasma collection division and the largest business unit in Life Therapeutics. She will report directly to Jeanette Porretta who is Executive Vice President Operations of Life Sera. She has served the company as Chief Financial Officer since January 1, 2006, and previously as Corporate Vice President of Finance.

"Helen's move into an operational role strengthens our management ranks especially in a time of rapid growth in a supplier-driven plasma market," said Dr. Nair. "During the next three months alone, we plan to add five new plasma collection centers. We need Helen's skills in the operations area, making sure the centers are up and operating on schedule and being an able stalwart to Jeanette Porretta."

Ms. Nasser began her career in public accounting and is a certified public accountant with a B.S. degree in Business Administration with a concentration in accounting.

Life Therapeutics is an international company that specializes in niche therapeutic hyperimmune products. It has 14 plasma collection centers around the US and has considerable experience recruiting and collecting hard to find hyperimmune plasma for IND studies and clinical trials.

Life Therapeutics has 480 employees, located in Australia and the United States with manufacturing operations in both countries and 14 plasma donor centers in eight American states. It recently established its U.S. American Depositary Receipt (ADR) Level I program, which enables trading in Life Therapeutics shares by U.S. based investors and is an important step toward the company's ultimate objective of achieving a full listing on NASDAQ stock exchange.

The company's four divisions are all headquartered in Atlanta, Georgia and include: Life Sera, Life Gels, Life Diagnostics, and Life Manufacturing.

Life Sera collects specialty plasma, including Anti-D and Hepatitis B from a donor base of more than 5,000 in fourteen U.S. collection centers. The plasma is then sold to blood fractionators who process it into hyperimmune therapeutic products.

Life Gels offers pre-cast gels for use in biological research and diagnostic testing, including a variety of electrophoresis systems. It also offers ultra-sensitive and rapid stains, molecular weight markers, and specially formulated buffers.

Life Diagnostics provides highly specific diagnostic tests for blood-clotting disorders and source plasma products for blood-borne diseases. Technologies include specialized blood coagulation tests to predict the risk of thrombosis and bleeding disorders. It also collects high-titer source plasma and serum used to make diagnostic kits.

Life Manufacturing incorporates the Gradiflow(TM) technology with the manufacture of therapeutic and diagnostic products. Gradiflow(TM) is a patented process that simultaneously purifies proteins and removes all viral pathogens, and infectious prion proteins.

For more information, visit www.life-therapeutics.com.