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EpiTan Ltd. - Clinuvel Pharmaceuticals

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Currency Exchange Rates:<br />

1 AUD = 0.7267 USD = 0.5915 EUR<br />

Source:<br />

<strong>EpiTan</strong> Limited<br />

MIDAS Research GmbH<br />

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This report is not suited for any individuals resident in any jurisdiction in which access to such reports is regulated by<br />

applicable laws. No investment decision must be based on any aspect of, or statement in, this report. If you are<br />

uncertain if this might apply in your case you should not access and consider this report.<br />

This publication was produced by MIDAS Research GmbH. It represents only a non-binding view of the development of the capital markets as<br />

well as of quoted companies and gives information about the composition and/or change of the model portfolio as composed by MIDAS Research<br />

GmbH. Purpose of the publication is to supply information for the shaping of a personal opinion. The publication does not constitute any<br />

investment advice or recommendation of certain stock exchange transactions and cannot replace professional investment advice. Each reader<br />

remains requested to consult his personal investment advisor to discuss a possible purchase or sale of any of the securities mentioned in the<br />

publication before carrying out any such investment transaction. Data and facts forming basis of this publication have not been separately<br />

verified by MIDAS Research GmbH and MIDAS Research GmbH does not assume any liability for the content of this publication. If this<br />

publication contains opinions as far as the future development of prices of securities or of the business development of enterprises is concerned<br />

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MIDAS Research GmbH does not conduct own account trading in shares or related derivatives of the companies discussed in this publication. This<br />

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liability to the aforementioned.<br />

If MIDAS Research GmbH directly or indirectly maintains or has directly or indirectly maintained within the last five calendar years Paid<br />

Research Agreements or other Service Agreements with companies mentioned in this report these companies are indicated in the following:<br />

<strong>EpiTan</strong> <strong>Ltd</strong>.<br />

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