Life Therapeutics Ltd. To Create Separate Company For Gels & Laboratory Gradiflow

ATLANTA--(BUSINESS WIRE)--March 24, 2006--Life Therapeutics (ASX:LFE) announces its plan to consolidate its Life Gels Division and the Laboratory Gradiflow component of its Life Manufacturing Division into a separately listed public company. This action is consistent with comments made at the Company's Annual General Meeting in November 2005.

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