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Collaboration With World Leader In 3d Metrology

XRT LTD SIGNS LANDMARK COLLABORATION WITH WORLD LEADER IN 3D METROLOGY AND ANALYSIS MARKET

6 April, 2005: The Board of BioTech Capital Ltd (ASX:BTC) is pleased to announce that investee company, XRT Ltd ("XRT"), has entered into a significant commercial partnership with a global leader in inspection and analysis tools.

This arrangement will see XRT's unique imaging technology, based around the phenomena of phase contrast, incorporated into dedicated instruments for 3D metrology and analysis. These tools will be manufactured in the northern hemisphere and distributed by the manufacturer through their worldwide network of subsidiary companies and agents.

The partnership involves XRT granting a license to its patented technology and in return XRT will be entitled to royalties on future sales of the instruments.

XRT's partner company is recognized as a global leader in its field, and the inclusion of XRT's technology into their existing product suite, if successful, "...will be an important step forward for the entire industry..." and is expected to generate strong revenues due to the major advancements over the existing instrumentation currently available to the industry.

Due to the competitive sensitivity of this product advancement, XRT is unable to name the identity of its partner or of the particular industry. The first phase of the partnership is to develop a working prototype of the tool which is budgeted for completion within 12 months, with product marketing and sales to commence immediately thereafter.

This agreement follows on from XRT's recent installation and commissioning of its X-Ray UltraMicroscope platform in the prestigious Lawrence Livermore National Laboratories (LLNL) in the United States. LLNL is a US-government funded advanced research facility for science and technology applied to national security. The laboratory's special multidisciplinary capabilities are also used to pursue programs in advanced defence technologies, energy, environment, biosciences, and basic science.

A direct consequence of this sale is an imaging project with the Institute for Geophysics and Planetary Sciences working on pilot samples for the "Stardust" program which is due to return extraterrestrial particles to Earth in January 2006. This work has resulted in the joint publication of results at the recent 36th Lunar and Planetary Science Conference in Huston Texas.

XRT is currently moving towards a re-location of its corporate activities to the United Kingdom and the above agreement forms an important element of this strategy.

About BioTech Capital Ltd

Biotech Capital Ltd ("BTC) is one of Australia's largest life-science focused private equity funds. With approximately $10 million in investment funds still available, the company is well placed to continue to develop a diversified portfolio of high quality Australian life-science investments.

BTC currently has investments in a diverse group of Australian life-science companies including Alchemia, Biocomm, Clinical Cell Culture, Continence Control Systems, Pacific Knowledge Systems, Phylogica, Prima Biomed, Proteome Systems, Starpharma, Stem Cell Sciences and XRT. As a registered Pooled Development Fund (PDF), investors are generally exempt from tax on capital gains and income.

BTC is listed on the Australian Stock Exchange (Code: BTC, BTCOA) and is managed externally by Titan BioVentures Management (www.titanbioventures.com).

Additional information can be found at www.biotechcapital.com.au

About XRT Ltd (www.xrt.com.au)

XRT Ltd leads the world in the practical application of x-ray phase contrast imaging developing tools that provide ultra-high resolution imaging. XRT has demonstrated the potential of the technology in numerous industries and applications.

Located in Melbourne, Australia, XRT Ltd has brought together a powerful combination of scientific, technical and commercial skills to deliver innovative products for x-ray ultraMicroscopy and x-ray phase contrast radiography.

XRT Ltd's strategic objective is to maintain and further develop a world class competence in the capture, extraction, manipulation and storage of phase contrast data from x-ray images.

ENDS

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