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    PHARMANET GROUP LIMITED REGISTERED OFFICE Level 1, 284 Oxford Street Leederville, WA 6007 AUSTRALIA +61 8 9242 2999 23 February 2005

    FOR IMMEDIATE RELEASE COMPLETE USA PATENT SPECIFICATION LODGED FOR TRIPEPTOFEN AND PROVISIONAL SPECIFICATION IN AUSTRALIA =============================================
    Pharmanet Group Limited (ASX PNO) is pleased to announce that its wholly owned
    drug development subsidiary, Cambridge Scientific Pty Ltd, had lodged completed patent
    specification in the USA and provisional specification in Australia for its propriety
    analgesic and anti-inflammatory compound, Tripeptofen.

    The lodgement of a US Specification in Completion allows the company to seek
    examination in the USA earlier than would otherwise be the case.

    The patents seeks to provide broad and early protection for the company's analgesic and
    anti-inflammatory intellectual property.

    The parallel lodgement in Australia provides the company with a single priority date in
    both the USA and PCT countries. The company has adopted this two-part patent strategy
    to support its international market potential.

    - Ends -

    Background to the Announcement

    Molecular Pharmacology Limited (MPL) is currently a wholly owned subsidiary of
    Pharmanet Group Limited (PNO) and was set up to exploit a potentially important new
    range of fast acting topical drug that was identified in Pharmanet's successful Thermalife
    product. The applications form part of the Intellectual Property strategy relating to this
    project.

    For further information:
    Pharmanet Group Limited
    Level 1, 284 Oxford Street, Leederville, Western Australia 6007
    Phone: +61 8 9242 2999
    Fax: +61 8 9443 2859
    Email: [email protected].au


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