US Investors and Big Pharma Offered Exclusive Site Visit Tours of Australia's Undiscovered Biotech Gems.

SAN FRANCISCO -- Australia's Famous Great Barrier Reef is the Backdrop for Region's Largest Biotech Conference

US pharma and biotech firms attending the region's largest biotech conference in Australia next month will be offered tailored, complementary site visits to some of the country's leading life sciences companies and R&D facilities.

With more than 85% of Australian biotech firms planning to "go global" in the next two years, investment and partnering with US firms will be the hot topics in and around the AusBiotech 2004 Going Global National Conference, (November 7-10, 2004).

Invest Australia, Australia's investment attraction agency, will be coordinating the site visit program.

Senior Investment Commissioner for North America Robert Hunt said Invest Australia plans to maximize this opportunity for US firms by arranging site visits to some of the "undiscovered biotech gems" and world-class R&D facilities throughout the country.

"The opportunity to meet up with some of Australia's 370 core biotech companies and 300 medical device firms at the Conference has already attracted leading US pharma and biotech companies and this exclusive program feature is the icing on the cake," Hunt said.

"The Conference gives industry players the ultimate snapshot of what Australia has to offer in key areas of agribiotech, biomedicines, biopharmaceuticals, stem cell sciences, environmental biotechnology and medical devices and diagnostics," Hunt said.

"Ranked as number one and generating 67% of total biotech revenues in the Asia Pacific region, the Australian biotechnology industry is growing strongly in both domestic and international markets," he said.

The AusBiotech 2004 Going Global Conference is also attracting big names in the industry including Steven Burrill, CEO of Burrill & Co, a commitment by the US Biotechnology Industry Organization (BIO), as well as company missions from over 18 countries including Japan, Taiwan, Germany, UK, New Zealand, and Singapore.

Keynote speakers include:

--Steven Burrill, CEO Burrill & Co, USA

--Ian Nisbet, CEO, Meditech Research Ltd (formerly Millennium Pharmaceuticals)

--Seizo Sumida, Managing Director, Japan Biotechnology Association

--Mel Bridges, Chairman, Peptech, AUS

--Vincent Ronfard, Director Life Science Development, L'Oreal

--Russell Howard, CEO Maxygen

--John Ryan, Director, IRS in BioNanotechnology, UK Nanotechnology, UK.

Dr Tony Coulepis, Executive Director of Ausbiotech, the premier Australian biotech industry organization, said no better opportunity exists to see Australian biotech at its most impressive and to access the latest thinking and key people all at the one event.

"It will have the best companies, the best research, partnering and licensing opportunities available, as well as provide Australia's key industry champions all under the one roof," Dr Coulepis said.

"Biopartnering is the model of choice, and US the partner country of choice, for Australian biotech businesses 'going global.'"

"US investors and companies are now seeing the significant potential of Australian biotech, with significant partnerships and investment successes already underway," Dr Coulepis said.

One of the largest biotech collaborations in Australian history took place recently when Merck Sharp & Dohme agreed to invest up to A$170 million (US$123 million) in Amrad, a leading drug development Australian company, in the areas of asthma, respiratory diseases and oncology.

Australia's scientific and R&D capabilities have a proven track record, with discoveries such as colony-stimulating factors to RNAi gene silencing technology.

DIARY DETAILS:

WHAT:   AusBiotech 2004 Going Global National Conference
         --  Three concurrent speaking sessions covering Business,
             Agriculture, Food and Environment, Medical Devices and
             Diagnostics, Drug Development
         --  A full trade Exhibition (over 100 exhibitors)
         --  A Business Partnering and Investment Forum (including
             showcase, partnering, licensing and investment sessions)
         --  A satellite meeting with the theme 'BioDiversity',
             capturing the best from Queensland's rainforest and reef
WHERE:  Brisbane Convention & Exhibition Centre, Queensland, Australia

WHEN:   7 - 10 November 2004

Further information:
Visit the conference website at www.ausbiotech2004.com

About Invest Australia - USA

Invest Australia is Australia's national inward investment agency, set up by the Australian Federal Government in 1997 to attract productive foreign direct investment into Australia to support sustainable industry growth and development. Invest Australia has investment advisory specialists in 11 locations around the world, including San Francisco and New York, to provide investors with on-the-ground support and investment advice. Since 1997 Invest Australia has helped a wide range of international businesses invest in Australia and, today, is currently working with companies on projects with potential investment in Australia of more than USD$60 billion.

Hi-res images of Australia/Brisbane and Great Barrier Reef available at www.swelldesign.com.au/statesimages/.