MELBOURNE, Australia, Feb. 8, 2006- The CEO of Metabolic, Dr Roland Scollay, while in the USA to present at a Biotechnology Industry Organisation (BIO) conference, will be meeting with a variety of analysts, investors and other parties, in order to increase awareness of Metabolic in the USA. The attached presentation prepared for this roadshow provides an overview of Metabolic’s business including an explanation of its two high potential, clinical stage drugs, AOD9604 for obesity and ACV1 for neuropathic pain.

The slides in the presentation will be used in various combinations in different situations. The BIO conference presentation will be available on Metabolic’s website on the day of the conference, Tuesday 14 February 2006.

A copy of the roadshow presentation is also available at www.metabolic.com.au, following the tabs to Investor Relations and then to Presentations.