Receives its USA ADR Ticker Symbol - VRIBY

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    HOMEX - Perth

    The Securities and Exchange Commission (SEC) in the USA has allocated
    VRI BioMedical the American Depository Receipt (ADR) Ticker Symbol
    VRIBY. This follows the approval by the SEC of the Company's Level
    One ADR programme.

    Trading of the Company's shares in the USA through the ADR programme
    is now operational.

    ADR's are US share certificates that represent underlying foreign
    shares which are held in custody outside the USA. ADR's are freely
    traded and settled in the USA like any other US share.

    The Bank of New York will act as the Company's Depository. Under the
    terms of the sponsorship arrangement with the Bank, the Bank absorbs
    most of the fees and charges associated with this Level One ADR
    programme. The Bank has established the client reporting and support
    services associated with this programme and will embark on secondary
    market promotional services shortly. Amongst other things, this will

    * Depository Receipt Internet Access - with links for
    VRI BioMedical and a hypertext link to the Bank's Global BuyDIRECT

    * Targeted mailings to over 15,000 registered representatives
    authorised to sell securities in the US.

    * Mailings to the Bank's proprietary databases of over 25,000
    advisors, consultants, institutional brokers and portfolio managers,
    retail brokers and specialised analysts.

    * Listings of VRI Biomedical in the Bank's Research magazine
    distributed to over 85,000 registered representatives.

    * Support in profiling the Company with key Investment publications,
    the Bloomberg Forum, senior managers and analysts of investment banks
    and investor relations firms.

    An initial investor road show in the USA is planned for later in 2002
    with the Company committing to regular investor road shows in the USA
    to establish and maintain the Company's profile in conjunction with
    the Bank's promotional services.

    Leon Ivory, Executive Chairman, states:

    "The advantages of operating an ADR programme are many for both the
    Company and its shareholders. The Company's international profile
    will be heightened with greater capacity to broaden the Company's
    global shareholder base and allow access to global capital markets if
    the need arises in the future. International investors will be able
    to participate in the equity of the Company without foreign
    investment restrictions, which can avail them of greater liquidity
    and potential tax advantages".

    For further information, contact:

    Leon Ivory, EXECUTIVE CHAIRMAN - 0419428264
    John Frame, COMPANY SECRETARY - (08) 9321 3655

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