Fundraising

Seeing Machines Limited
24 September 2007



24 September 2007


                            Seeing Machines Limited
                      ('Seeing Machines' or the 'Company')


   Fund raising, issue of shares, general meeting, and change in shareholding


Seeing Machines (AIM: SEE), a leading developer of advanced computer based
imaging software systems, is pleased to announce that it has raised up to
£1,287,130 million before expenses via the issue of 51,485,206 new ordinary
shares at 2.5p per share through a placing (the 'Placing'). The Placing is to be
conducted in two tranches as follows:

   • tranche 1 of 8,348,000 Ordinary Shares

   • tranche 2 of 43,137,206 Ordinary Shares conditional on shareholder
    approval


Tranche 1 has been concluded today providing additional working capital to the
Company of A$500,000 (£208,700). 8,348,000 new Ordinary Shares were issued and
allotted on 24 September 2007. Application has been made for these 8,348,000 new
Ordinary Shares to be admitted to trading on AIM and dealings are expected to
commence on 27 September 2007. Following the issue of these 8,348,000 new
Ordinary Shares the issued share capital of the Company is 264,512,929 Ordinary
Shares.


A group of investors has agreed to subscribe for Tranche 2 of 43,137,206
Ordinary Shares, conditional on shareholder approval which will be sought at a
General Meeting of the Company in Acton, ACT, Australia on 26 October 2007.


A further tranche of up to 4,514,794 Ordinary Shares, is expected to conclude
shortly and a separate announcement will be made when the details are available.
If all three tranches are successfully completed, the final outcome will result
in a total raising of up to £1.4 million before expenses, via the issue of up to
56,000,000 new ordinary shares at the 2.5p per share placing price.


A circular containing a Notice of Meeting convening a General Meeting of the
Company for the purpose of seeking the required shareholder approval has been
posted to shareholders and will be available from the Company's web site today
www.seeingmachines.com.


The proceeds of the placing will be used to commercialise the Company's
products, including: the TrueField Analyzer ('TFA'), a medical device that helps
clinicians diagnose glaucoma and other eye diseases, and has recently received
FDA approval; the Driver State Sensor ('DSS') system, which monitors driver
fatigue and distraction; and the faceTRACKING API ('API'), a software library
offering the Company's core technology to third party system developers on a
licensing model.


A presentation by the Company provided to potential investors in the Placing is
available from the Company's website at www.seeingmachines.com.


The Tranche 1 shares were issued to the Australian National University.
Following the issue of these 8,348,000 new ordinary shares, the Company is aware
of the following relevant changes in substantial/significant shareholdings as
defined in the AIM Rules for Companies:

+--------------+-----------------------------+-----------------------------+
|              |    To 23 September 2007     |      24 September 2007      |
+--------------+--------------+--------------+--------------+--------------+
|Shareholder   | No. of shares|% shareholding| No. of shares|% shareholding|
|              |          held|              |          held|              |
+--------------+--------------+--------------+--------------+--------------+
|JATS          |    85,594,176|         33.41|    85,594,176|         32.36|
|Technology Pty|              |              |              |              |
|Limited       |              |              |              |              |
+--------------+--------------+--------------+--------------+--------------+
|Australian    |    28,114,687|         10.98|    36,462,687|         13.78|
|National      |              |              |              |              |
|University    |              |              |              |              |
+--------------+--------------+--------------+--------------+--------------+
|Volvo         |    23,226,073|          9.07|    23,226,073|          8.78|
|Technological |              |              |              |              |
|Development   |              |              |              |              |
+--------------+--------------+--------------+--------------+--------------+

--- ENDS ---


Enquiries:

Seeing Machines Limited   Insinger de Beaufort   Parkgreen Communications

Nick Cerneaz, CEO         Peter Ward             Ben Knowles

                                                 Erica Nelson

[phone]       [phone]   [phone]

www.seeingmachines.com


Notes to editors:


About Seeing Machines


Seeing Machines is an award winning Technology Company which focuses on vision
based human machine interfaces. Formed in 2000 in Canberra, Australia, Seeing
Machines' purpose is to commercialise its computer-vision across a range of
industries and applications.

Seeing Machines deliver advanced computer vision solutions for researches and
developers in human factors, transportation safety, computer human interaction,
robotics, medical research and psychology. The flagship product faceLAB(R)
provides an automated and contact-free gaze and head tracking technology, it
solves the problem of observing human behaviour naturally, non-intrusively and
with a high degree of accuracy and usability. Building on these unique face
tracking and pupil measurement and monitoring capabilities, the TrueField
Analyzer(R) is new medical device to assist clinicians detect and manage eye
diseases such as glaucoma.

The TrueField Analyzer(R) offers a new objective method to help doctors diagnose
and manage a range of eye diseases including glaucoma, age related macular
degeneration and diabetic retinopathy. Glaucoma affects about 2-3% of the
population over 40 years of age and is a leading source of blindness. Unlike
most other devices available to the clinician the TrueField Analyzer is a
completely objective test and it is quick and easy for patients and technicians
alike. The device measures both eyes concurrently and due to the reliability
that arises from the objective nature of the test, it has the potential to
become a new standard in the measurement of visual field defects and thus in the
diagnosis and management of disease such as glaucoma.

More generally Seeing Machines' computer vision systems are able to measure the
orientation and position of a human head, estimate eye-gaze direction, detect
eye blinks and track other facial features. This functionality is achieved
entirely though visual means, using video cameras connected to advanced image
processing software, with no attachments required on the subject. Products such
as faceLAB(R) are designed to allow human factors researchers and designers to
assess the interaction of an operator in an environment and this finds
application in designing operator environments, such as cockpits for cars,
trucks, trains, and aeroplanes for instance, and other industrial design
applications, as well as medical and psychological research situations. The
technology has been developed into the Driver State Sensor (DSS2) product for
application in monitoring vehicle drivers and if it detects drowsiness (fatigue)
or that the driver is distracted and their attention has been diverted from the
road, alarms are raised to alert the driver to these events. In larger
deployments, such as in fleet and mining equipment operations, the data is
available in both real-time and off-line modes for fleet management, driver
training and awareness programs

The systems work in real-time, enabling the behaviour of subjects to be tracked
in real-time. This technology is paving the way in promoting safer driving
conditions and works to enhance the driving experience and to eliminate
accidents caused through driver drowsiness or distraction.

There are many different sectors that can benefit from this revolutionary
software, for which it has been developed, including: automotive; academic
research; medicine/healthcare; defence; autostereoscopy (next generation
displays); sport; and games.


                      This information is provided by RNS
            The company news service from the London Stock Exchange