7 November 2005

Ellex to Seek Expressions of Interest for Adelaide Property

Ellex Medical Lasers Limited (“Ellex”) wishes to advise that it has engaged Knight Frank (Adelaide) to seek expressions of interest for the sale of its head quarters located at 82 Gilbert Street, Adelaide.

The sale is subject to an offer acceptable to the Board of Ellex. Ellex will enter into a long term lease as it believes the facility remains appropriate for its medium and long term operations.

“Ellex acquired the property in 2001 to secure a good facility in a central location and it has turned out to be a good investment. While we have no plans to relocate our operations, we believe a sale and lease of the property is more in line with our business needs” said Mr. Falzon, CEO of Ellex.

Mr. Falzon indicated that if a sale was secured, proceeds would be used to repay debt and establish some cash reserves for future growth opportunities. “We are entering into an exciting growth phase in our core business and this will help to position us to take advantage of this.”

About Ellex

Ellex leads the world in the supply of innovative integrated laser systems for use by ophthalmologists throughout the world under its “Laserex” brand. Ellex has been manufacturing lasers for more than 15 years and our extensive range includes YAG Laser Photodisruptors for Post Cataract surgery and Green Laser Photocoagulators for retinal treatment. Ellex is currently pioneering the development of Selective Laser Trabeculoplasty (SLT) as a treatment for elevated eye pressure in patients with Glaucoma and is the only global manufacturer of the SLT/YAG combination laser.