Ann: Appendix 4C - quarterly , page-5

TPLO,

The half year report had the following:

"The Company has evaluated a number of development and investment opportunities over the past six (6)
m o n t h s t h a t i t f e l t c o u l d b e s u i t a b l e f o r S e l e c t V a c c i n e s L i m i t e d m o v i n g f o r w a r d . W h i l s t n o n e o f t h e s e
opportunities progressed to a level that warranted disclosure to the market, the board continues to review
investment opportunities with a view to increasing shareholder value.
In the meantime, the company is carefully managing its cash reserves to ensure a meaningful return for
shareholders while retaining relatively low risk
The comprehensive loss from operations before tax for the half-year of $258,470 compares to a loss of
$167,196 for the 6-months ended 30 June 2010. The company has a cash balance of $1,203,371 as at 30
June 2011 (2010: $251,675).

So there seem to have made some progress on the project front and haven't burnt much cash (150K roughly).

I reckon we may get some news before the end of the year... Everyone likes a Christmas present :)