ASX: LCT - OTCQX: LVCLY ‘Preparing for the Upturn’ SIT, Invercargill 16 July 2009

It must be considered that there is nothing more difficult to carry out nor more doubtful of success nor more dangerous to handle than to initiate a new order of things; for the reformer has enemies in all those who profit by the old order, and only lukewarm defenders in all those who would profit by the new order; this lukewarmness arising partly from the incredulity of mankind who does not truly believe in anything new until they actually have experience of it. Machiavelli ” “

Pioneering in Innovation Activity In order to succeed, we must lead the way on a global scale in selected sectors of innovation activity. Finland 2009 ” “

Exemplar Transplantation of micro-encapsulated pig insulin producing cells for the treatment (cure?) of Type 1 diabetes

Requirements and Industry Opportunities 1.Clean pigs 2.Cell processing unit 3.Cell transplantation unit

Clean Pigs Sourced from unique Auckland Islands

Clean Pigs Kept in high tech barrier unit

Clean Pigs

Virus Laboratory Monitoring herd

Clean Pigs Numbers: Need one sow to transplant one patient/year Maximum size of unit is 500 sows Need 50 units Employing 50 staff directly per unit Virus laboratory to service 50 units Employing 100 scientists

Clean Pigs Cell processing units (10) to service 50 piggeries Good Manufacturing Practice licensed clean room suites

Surgery Cell preparation Encapsulation Employing 10X 20 staff

Total direct staff = support

Cell Transplantation Unit Can be anywhere

Results to date Russian trial

Patient Implant – Recovered Cells

Pig Insulin in Blood

Showing Reduction in Mean Blood Glucose and Range of Excursions Despite Minimal Post Implant Insulin Dose Reduction

Is this a suitable strategy? Or is it too great a risk?

There are 20 million Type 1 diabetics in the world.

This document contains certain forward-looking statements, relating to LCT’s business, which can be identified by the use of forward-looking terminology such as “promising”, “plans”, “anticipated”, “will”, “project”, “believe”, “forecast”, “expected”, “estimated”, “targeting”, “aiming”, “set to”, “potential”, “seeking to”, “goal”, “could provide”, “intends”, “is being developed”, “could be”, “on track”, or similar expressions, or by express or implied discussions regarding potential filings or marketing approvals, or potential future sales of product candidates. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. There can be no assurance that any existing or future regulatory filings will satisfy the FDA’s and other health authorities’ requirements regarding any one or more product candidates nor can there be any assurance that such product candidates will be approved by any health authorities for sale in any market or that they will reach any particular level of sales. In particular, management’s expectations regarding the approval and commercialization of the product candidates could be affected by, among other things, unexpected clinical trial results, including additional analysis of existing clinical data, and new clinical data; unexpected regulatory actions or delays, or government regulation generally; our ability to obtain or maintain patent or other proprietary intellectual property protection; competition in general; government, industry, and general public pricing pressures; and additional factors that involve significant risks and uncertainties about our products, product candidates, financial results and business prospects. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. LCT is providing this information as of July 2009 and does not assume any obligation to update any forward-looking statements contained in this document as a result of new information, future events or developments or otherwise. Safe Harbor Statement

ASX: LCT - OTCQX: LVCLY