GTG Genetic Technologies Limited

Genetic Technologies Limited ("GTG") (NASDAQ:GENE) (ASX:GTG) is pleased to inform the Market about some current activities and recent developments in North America. -0- *T 1. NASDAQ. As previously reported, GTG successfully completed its Level II listing on the NASDAQ National Market, under the ticker "GENE", on September 2, 2005, after a lengthy and complex process. Soon after, on November 7, 2005, a ceremony was held at NASDAQ headquarters in New York to mark this achievement. The ceremony included the opportunity for GTG to send its message to the world and to ring the "closing bell". This was web-cast and also broadcast live via a number of business television channels. The original decision to pursue a NASDAQ listing was based on expert advice that such a listing would greatly assist investors residing outside Australia to invest in GTG. Such investors may now purchase American Depository Receipts ("ADRs") on NASDAQ, with The Bank of New York acting as their custodian. Each ADR, which comprises 30 ordinary shares in GTG, is quoted on NASDAQ in US dollars. Currently, six months after achieving our Level II listing, approximately 120,000 ADRs have been created, representing more than 3.5 million GTG ordinary shares. In other words, approximately 1% of the Company is now held by The Bank of New York in the form of ADRs on behalf of offshore investors, and our advisers expect this percentage to steadily increase. 2. Investor Relations Support in USA. GTG is currently represented by the New York-based investor relations firm of Lippert/Heilshorn & Associates, Inc. GTG also now retains the services of a Colorado-based media relations consultant. 3. Interest by US Brokers and Institutional Investors. Over recent months, GTG executives have visited New York City several times to make presentations to a number of large U.S. institutional investors who expressed interest to learn more about GTG. We are informed that some of these institutional investors have since expressed interest to take a position in GTG and discussions are continuing. 4. Independent Research Report. Over recent months, we have also met with a number of U.S. investment banks and stockbrokers who wanted to learn more about GTG, with a view to possibly preparing reports on GTG for their clients. One such investment banking firm, based in New York, has recently supplied GTG with an advance copy of their proposed report, which we have been invited to review for accuracy. This report demonstrates a pleasing understanding of our vision and our achievements, and we are told it will likely be released to the American market in the near future. 5. Licensing in USA. Following the settlement of the Applera law suit in December 2005, we reported plans to expand our licensing infrastructure in USA. We subsequently announced the appointment of two licensing firms -- PatentBridge, located in Menlo Park, California to cover the U.S. west coast, and Dickstein, Shapiro, Morin & Oshinsky, located in Washington DC and New York City to cover the U.S. east coast. Both firms are now actively pursuing new licensing opportunities for GTG, under our close supervision. GTG itself is also following up other leads, which had been put on hold during the law suit. 6. Collaborations in USA. It is noteworthy that many of the U.S. companies who have taken licenses from GTG have subsequently expressed an interest to explore further opportunities with GTG -- some in relation to expanded genetic testing and some in relation to the commercialisation of other discoveries. A number of active discussions are now under way. 7. Gtech International Resources. GTG holds a majority interest in this company which is listed on the NEX stock exchange in Canada. GTG is now assisting Gtech to identify and evaluate new opportunities in the field of biotechnology. *T In summary, GTG sees North America as a major focus for expansion. A range of new opportunities are now being actively pursued. Further details will be reported as appropriate. About Genetic Technologies Limited Genetic Technologies was an early pioneer in recognizing important new applications for "non-coding" DNA (DeoxyriboNucleic Acid). The Company has since been granted patents in 24 countries around the world, securing intellectual property rights for particular uses of non-coding DNA in genetic analysis and gene mapping across all genes in all multicellular species. Its three-pronged business strategy includes: 1) the global commercialization of its patents through an active licensing program; 2) the expansion of its dominant commercial genetic testing business in Australia; and, 3) the commercialization of its various research and development projects aimed at generating further intellectual property of global commercial significance. This announcement may contain forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934 with respect to the financial condition, results and business achievements/performance of Genetic Technologies Limited and certain of the plans and objectives of its management. These statements are statements that are not historical facts. Words such as "should," "expects," "anticipates," "estimates," "believes" or similar expressions, as they relate to Genetic Technologies Limited, are intended to identify forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect Genetic Technologies' current expectations and assumptions as to future events and circumstances that may not prove accurate. There is no guarantee that the expected events, trends or results will actually occur. Any changes in such assumptions or expectations could cause actual results to differ materially from current expectations.