nice announcement from gtg, page-2

ASX ANNOUNCEMENT
October 18th, 2004
_____________________________________________________________________
GTG Reports Increased Cash Reserves.
Genetic Technologies Limited (ASX-GTG, NASDAQ-GNTLY)) is pleased to report
a significant increase in current cash reserves.
GTG recently reported on its license to Genzyme Corporation, a large US company
involved in human genetic testing. Under that license, GTG would receive a signing
fee of $7.5M – of which $5M would be in cash. GTG is pleased to confirm that this
$5M cash payment was received by GTG at the end of last week.
GTG also recently reported new agreements with MetaMorphix, a US biotechnology
company specializing in the genetics and genomics of certain animal species,
particularly cattle and dogs. Under these agreements GTG would receive a signing
fee, also now received, and GTG would acquire a broad range of diagnostic assays
and testing rights for cattle and for dogs for Australia, New Zealand and the Asia-
Pacific region for a nominal payment by GTG, also since completed.
Meanwhile, GTG continues to build recurring revenues from its genetic testing
businesses and also from its global licensing activities. In addition, vendor options
issued in 2000 at the time of the listing of GTG on ASX are now approaching
maturity, and GTG anticipates receiving significant cash inflows from the exercising
of outstanding options over the next 6 months.
In summary, GTG today has consolidated cash reserves of approximately $13.2M and
anticipates substantial additional cash inflows in the current financial year.
FOR FURTHER INFORMATION PLEASE CONTACT
Dr. Mervyn Jacobson,
Executive Chairman,
Genetic Technologies Limited
Phone: +61 3 9415-1135.