At the AGM of the shareholders of Phosphagenics Limited held in Melbourne today the following resolutions as set out in the Notice of Meeting dated 4 April 2008 were each carried by the required majority on a show of hands.

As a result, shareholders resolved:

Resolution no. 1 - to adopt the Remuneration Report;

Resolution no. 2 - to re-elect a Director – Mr J A Addison

and, as announced, the resolution proposing the re-election of Mr Michael D Preston, was withdrawn with the approval of the Meeting.

A table detailing the results of the voting, by resolution, inclusive of the proxy voting is attached.

Yours faithfully

Phosphagenics Limited

per Mourice Garbutt

Company Secretary

poh\asx\results agm 23 05 08

Phosphagenics Limited

ACN 056 482 403   ABN 32 056 482 403
Level 2, 90 William Street Melbourne VIC 3000
Telephone: 61 3 9605 5900 Facsimile: 61 3 9605 5999
Web page: www.phosphagenics.com    Email: info@phosphagenics.com