Benitec to Raise $9 Million
Through Rights Issue

Benitec filed this week a prospectus with the Australian Stock Exchange for a fully underwritten rights issue allowing the company's shareholders to purchase two common shares for every three shares held at a price of Au$0.16 per share.

The company expects to net about Au$9 million, roughly $6.9 million, through the issue.

According to Benitec, shareholders who subscribe will be entitled to an option for every two shares subscribed for, exercisable at $0.32 at any time before April 2008.

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