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Virotec Intl Ld (VTI)

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Wednesday 27 August, 2003

Virotec Intl Ld

Share Placement

Virotec International Ld
27 August 2003


Embargoed for release until 7.00am 27 August 2003


                           VIROTEC INTERNATIONAL LTD


                                SHARE PLACEMENT


Virotec International Ltd ('Virotec') announces a Placing (the 'Placing') of
25,000,000 new ordinary shares (the 'Placing Shares') at a price of GBP 14p
(approx AUD 34cents).


Chairman and Chief Executive Officer Brian Sheeran explains, 'The purpose of
this Placing, which raises approximately GBP£3.4 million (approx AUD$8.2
million) net of expenses, is to assist in the implementation and expansion of
the Company's strategy and to respond to growing investor interest in the UK. We
believe significant market opportunities exist for our wide ranging remediation
technologies in the UK and the rest of Europe.'


The Placing Shares constitute 14.9 per cent of Virotec's current issued share
capital.


The Placing Shares are being placed with investors by Numis Securities Limited
('Numis Securities'). The Placing is conditional on the admission of the Placing
Shares to dealing on the Alternative Investment Market of the London Stock
Exchange becoming effective by no later than 8.00 a.m. on 2 September 2003 (or
by such later time and date as Numis Securities and Virotec may decide but no
later than 9 September 2003).  The Placing Shares will rank pari passu in all
respects with the existing ordinary shares of Virotec in issue.


Application will be made for the 25,000,000 new ordinary shares to be admitted
to dealing on the Alternative Investment Market of the London Stock Exchange and
to be granted official quotation on the Australian Stock Exchange.  It is
expected that admission will become effective and dealings will commence on 2
September 2003.


Virotec also announces that the unaudited results of the Virotec Group for the
year ended 30 June 2003 show revenues of approximately GBP£0.7 million (AUD$1.7
million) and a net loss before tax of approximately GBP£2.3 million (AUD$5.6
million).  At 30 June 2003 Virotec had a cash balance of GBP£2.6 million
(AUD$6.4 million).  Virotec expects to release its full trading results for the
year ended 30 June 2003, by mid September 2003.


Enquiries:

•           Angus Craig, Company Secretary, Tel +617 5530 8014



This press release has been issued by Virotec International Ltd, is the sole
responsibility of Virotec International Ltd and has been approved as a non-real
time financial promotion by Numis Securities Limited of 138 Cheapside, London
EC2V 6LH, solely for the purposes of section 21 of the Financial Services and
Markets Act 2000.   Numis Securities Limited is acting as the financial adviser
to Virotec International Ltd and no one else and will not be responsible to any
other person for providing the protections afforded to clients of Numis
Securities Limited or for providing advice regarding the Placing


                            Virotec International Ltd
                                ABN 81 004801 398
                                   PO Box 188
                                 Sanctuary Cove
                                Queensland 4212
                                    Australia
                                www.virotec.com
                                        
END






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