Ann: Notice of General Meeting/Proxy Form, page-47

Just comeback from the meeting. Here’s some feedback for those who couldn’t attend:

There were roughly15 people present, including Company Secretary Simon Robertson and a couple ofother Botanix personnel, Kevin Johnson from Argonaut and several shareholders& others.

Matt andthe directors weren’t physically present, though he, Rob Towner and Bill Boschwere on the phone. Unfortunately, due to storms in Philadelphia Vince andanother who were diverted mid-flight because of the storm missed the call.

First upsome of the highlights (I’ll post more later if/when I get time):

· BOThave been approached by 3 or 4 companies in the last 2 weeks, based on the datawe released at the San Diego conference (and have subsequently been invited tospeak at a number of other conferences);

· Furtherto this, we’ve been approached by an international non-profit organization controlling$100s of millions per year of funding for development of new antibiotics. Matt stated that there are options todevelop programs using other people’s money without diluting shareholders and that’s what we’ll be exploring intensely over the coming months;

· FinalPsoriasis data on track to be released this quarter;

· Acnestudy on track. Fully recruited (in fact we ended up with more than the 360 patients we were looking for). No safety issues. Feedback from patients and physicians (noting these aren’t data results which are double-blind) have been very positive;

· ADstudy on track for results to be released this calendar year. A number of other studies for AD are going on in the US however they are injection based and subsequently Botanix are finding patients for trials are preferring ours over others;

· AccessVince gives BOT is incredible. Matt gave an example stating he’d been chasing a meeting with the head of Valeant for about 2 years. Vince picked up the phone and that day they were in discussions. His praise for Vince was glowing. Implied that even though Vince has plenty of money, success and opportunities, he chose BOT and that says heaps;

· Acnewash sales discussions being reinvigorated thanks to Vince (part of hisbackground is in ‘aesthetic’ treatments such as this);

· Permatrexdeals being discussed – though they won’t announce anything that’s only in the100s of thousands of dollars;

· Alreadytalking about our Phase 3 timelines/start dates;

· Otherapplications - e.g. Rosacea, antimicrobial for the eye. Etc.

Reallypositive meeting

Cheers

Freighter