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December 9, 2003
Company Announcements
Australian Stock Exchange Limited

Benitec is pleased to announce that it has made a placement of shares to various institutions in
both Australia and the United Kingdom, managed by Citigroup Global Markets (Australia).

The placement is of 9,100,000 ordinary shares at an issue price of $1.20 per share. The funds
raised will be used for the purposes of funding:
· Benitec’s patent expansion and protection;
· Benitec’s human therapeutic development program;
· Recruitment of key business executives;
· Benitec’s one off payment to Queensland DPI for ongoing commercialisation program; and General working capital.

Attached to this announcement is the presentation in connection with the settlement and the
placement.
Yours truly,
G Taylor
Company Secretary
For and on Behalf of
Benitec Limited