----

----

|   | [  ] | REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) |
|--------|----------------|--------------------------------------------------|

|   | OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|-----------------------------------------------|

| * | Not for trading, but only in connection with the registration of American Depositary Shares. |
|---|----------------------------------------------------------------------------------------------|

----

----

| Forward Looking Statements                                                                                                                                                | 1      |
|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                      |   |
|                                                                                                                                                                      |   |
|   PART I                                                                                                                                                             |   |
| ITEM 1.                 Identity of Directors, Senior Management and Advisors        | 2      |
| ITEM 2.                 Offer Statistics and Expected Timetable                      | 2      |
| ITEM 3.                 Key Information                                              | 2      |
| ITEM 4.                 Information on the Company                                   | 13     |
| ITEM 4A.              Unresolved Staff Comments                                                     | 33     |
| ITEM 5.                 Operating and Financial Review and Prospects                 | 33     |
| ITEM 6.                 Directors, Senior Management and Employees                   | 41     |
| ITEM 7.                 Major Shareholders and Related Party Transactions            | 54     |
| ITEM 8.                 Financial Information                                        | 56     |
| ITEM 9.                 The Offer and Listing                                        | 58     |
| ITEM 10.               Additional Information                                                  | 60     |
| ITEM 11.               Quantitative and Qualitative Disclosures about Market Risk                   | 64     |
| ITEM 12.               Description of Securities other than Equity Securities                  | 65     |
|                                                                                                                                                                      |   |
| PART II                                                                                                                                                                   |   |
| ITEM 13.               Defaults, Dividend Arrearages and Delinquencies                         | 67     |
| ITEM 14.               Material Modifications to the Rights of Security Holders and Use of Proceeds | 67     |
| ITEM 15.               Controls and Procedures                                                 | 67     |
| ITEM 16.               Reserved                                                                | 68     |
| ITEM 16A.            Audit Committee Financial Expert                                                         | 68     |
| ITEM 16B.            Code of Ethics                                                                           | 68     |
| ITEM 16C.            Principal Accountant Fees and Services                                                   | 69     |
| ITEM 16D.            Exemptions from the Listing Standards for Audit Committees                               | 69     |
| ITEM 16E.            Purchases of Equity Securities by the Issuer and Affiliated Purchasers                        | 70     |
| ITEM 16F.             Change in Registrant’s Certifying Accountant                                 | 70     |
| ITEM 16G.            Corporate Governance                                                                          | 71     |
| ITEM 16H.            Mine Safety Disclosure                                                                        | 71     |
|                                                                                                                                                                      |   |
| PART III                                                                                                                                                                  |   |
| ITEM 17.               Financial Statements – Not Applicable                             | 72     |
| ITEM 18.               Financial Statements                                                    | 72     |
| ITEM 19.               Exhibits                                                                | 72     |

| Summary of Consolidated Statements of Comprehensive Income                                             |   |
|--------------------------------------------------------------------------------------------------------|--------|
| (IFRS)                                                                                                 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                   |   | 2008 |   |   | 2009 |   |   | 2010 |   |   | 2011 |   |   | 2012 |   |   | 2012 |   |
|                                                                                                   |   | (A$'000) |   |   | (A$'000) |   |   | (A$'000) |   |   | (A$'000) |   |   | (A$'000) |   |   | (US$'000) |   |
|                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Revenue from continuing operations                                                                     |   |   | - | * |   |   | 2,504 |   |   |   | 1,784 |   |   |   | 2,025 |   |   |   | 1,513 |   |   |   | 1,549 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss after tax from continuing operations                                                              |   |   | - | * |   |   | (21,932 | ) |   |   | (15,814 | ) |   |   | (10,946 | ) |   |   | (8,742 | ) |   |   | (8,948 | ) |
|                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Profit/(loss) after tax from discontinuing operations                                                  |   |   | - | * |   |   | (1,855 | ) |   |   | 568 |   |   |   | 1,467 |   |   |   | 7,392 |   |   |   | 7,566 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net loss                                                                                               |   |   | (24,777 | ) |   |   | (23,787 | ) |   |   | (15,246 | ) |   |   | (9,479 | ) |   |   | (1,350 | ) |   |   | (1,382 | ) |
|                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net profit/(loss) attributable to members of Novogen Limited                                           |   |   | (20,264 | ) |   |   | (18,928 | ) |   |   | (12,345 | ) |   |   | (6,498 | ) |   |   | 1,309 |   |   |   | 1,340 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Basic and diluted earnings/(loss) per share from continuing operations (cents per share)               |   |   | - | * |   |   | (16.8 | ) |   |   | (12.6 | ) |   |   | (7.8 | ) |   |   | (5.9 | ) |   |   | (6.0 | ) |
| Basic and diluted earnings/(loss) per share from discontinuing operations (cents per share)            |   |   | - | * |   |   | (1.8 | ) |   |   | 0.6 |   |   |   | 1.4 |   |   |   | 7.2 |   |   |   | 7.4 |   |
| Basic and diluted earnings/(loss) per share (cents per share)                                          |   |   | (20.8 | ) |   |   | (18.6 | ) |   |   | (12.1 | ) |   |   | (6.4 | ) |   |   | 1.3 |   |   |   | 1.3 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Weighted average number of Ordinary Shares used to calculate earnings per share                        |   |   | 97,594,261 |   |   |   | 101,741,016 |   |   |   | 102,125,894 |   |   |   | 102,125,894 |   |   |   | 102,430,637 |   |   |   | 102,430,637 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Number of outstanding Ordinary Shares at year end                                                      |   |   | 97,594,261 |   |   |   | 102,125,894 |   |   |   | 102,125,894 |   |   |   | 102,125,894 |   |   |   | 103,805,676 |   |   |   | 103,805,676 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| * Comparative information for these periods cannot be provided without unreasonable effort or expense. |   |   |   |   |   |

| Summary of Consolidated Statements of Financial Position |   |
|----------------------------------------------------------|--------|
| (IFRS)                                                   |   |
|                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                     |   | 2008 |   |   | 2009 |   |   | 2010 |   |   | 2011 |   |   | 2012 |   |   | 2012 |   |
|                                                     |   | (A$'000) |   |   | (A$'000) |   |   | (A$'000) |   |   | (A$'000) |   |   | (A$'000) |   |   | (US$'000) |   |
|                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash and Cash Equivalents                                |   |   | 35,386 |   |   |   | 33,338 |   |   |   | 15,131 |   |   |   | 6,016 |   |   |   | 8,348 |   |   |   | 8,545 |   |
|                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Assets                                             |   |   | 43,401 |   |   |   | 37,842 |   |   |   | 19,290 |   |   |   | 12,727 |   |   |   | 8,985 |   |   |   | 9,197 |   |
|                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net Assets                                               |   |   | 35,637 |   |   |   | 28,773 |   |   |   | 13,176 |   |   |   | 4,420 |   |   |   | 5,113 |   |   |   | 5,234 |   |
|                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Capital Stock                                            |   |   | 200,432 |   |   |   | 206,419 |   |   |   | 206,419 |   |   |   | 194,295 |   |   |   | 199,026 |   |   |   | 203,723 |   |

| Exchange Rates for the six months to September 2012 |   |
|-----------------------------------------------------|--------|
| A$ versus US$                                       |   |   |   |   |
|                                                |   |   |   |   |   |
| Month                                               |   |   | High | Low |   |
| April                                               |   |   | $1.0447 | $1.0255 |   |
| May                                                 |   |   | $1.0345 | $0.9709 |   |
| June                                                |   |   | $1.0236 | $0.9688 |   |
| July                                                |   |   | $1.0522 | $1.0131 |   |
| August                                              |   |   | $1.0591 | $1.0301 |   |
| September                                           |   |   | $1.0561 | $1.0195 |   |

| Exchange Rates for the Last Five Years A$ versus US$ |   |
|------------------------------------------------------|--------|
|                                                 |   |   |   |   |   |
| Fiscal Year                                          |   |   | Average |   |
| Ended June 30                                        |   |   | Rate |   |
| 2008                                                 |   |   |   | $0.8968 |   |
| 2009                                                 |   |   |   | $0.7455 |   |
| 2010                                                 |   |   |   | $0.8820 |   |
| 2011                                                 |   |   |   | $0.9904 |   |
| 2012                                                 |   |   |   | $1.0323 |   |

| ·   | the number of trials; |
|--------------------|-----------------------|

| ·   | the number of sites included in the trials; |
|--------------------|---------------------------------------------|

| ·   | the length of time required to enroll suitable patients; |
|--------------------|----------------------------------------------------------|

| ·   | the number of patients who participate in the trials and the rate that they are recruited; |
|--------------------|--------------------------------------------------------------------------------------------|

| ·   | the number of treatment cycles patients complete while they are enrolled in the trials; and |
|--------------------|---------------------------------------------------------------------------------------------|

| ·   | the efficacy and safety profile of the product. |
|--------------------|-------------------------------------------------|

|   | • |   | ME-143, ME-344 and Pracinostat are in the early stages of development, and the Company will need to conduct significant clinical testing to demonstrate safety and efficacy of these drug candidates before applications for marketing can be filed with the FDA, or with the regulatory authorities of other countries; |
|--------|---------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • |   | data obtained from pre-clinical and clinical studies can be interpreted in different ways, which could delay, limit or prevent regulatory approval; |
|--------|---------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • |   | development and testing of product formulation, including identification of suitable excipients, or chemical additives intended to facilitate delivery of the Company’s drug candidates; |
|--------|---------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • |   | it may take the Company many years to complete the testing of its drug candidates, and failure can occur at any stage of this process; and |
|--------|---------|--------|--------------------------------------------------------------------------------------------------------------------------------------------|

|   | • |   | negative or inconclusive results or adverse medical events during a clinical trial could cause the Company to delay or terminate its development efforts.  |
|--------|---------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • |   | timing of market introduction of the Company’s drugs and competitive drugs; |
|--------|---------|--------|-----------------------------------------------------------------------------------|

|   | • |   | actual and perceived efficacy and safety of the Company’s drug candidates; |
|--------|---------|--------|----------------------------------------------------------------------------------|

|   | • |   | prevalence and severity of any side effects; |
|--------|---------|--------|----------------------------------------------|

|   | • |   | potential or perceived advantages or disadvantages over alternative treatments; |
|--------|---------|--------|---------------------------------------------------------------------------------|

|   | • |   | strength of sales, marketing and distribution support; |
|--------|---------|--------|--------------------------------------------------------|

|   | • |   | price of future products, both in absolute terms and relative to alternative treatments; |
|--------|---------|--------|------------------------------------------------------------------------------------------|

|   | • |   | the effect of current and future healthcare laws on the Company’s drug candidates; and |
|--------|---------|--------|----------------------------------------------------------------------------------------------|

|   | • |   | availability of coverage and reimbursement from government and other third-party payers.  |
|--------|---------|--------|------------------------------------------------------------------------------------------------|

| ·   | announcements of technological innovations by the Company and its competitors; |
|--------------------|--------------------------------------------------------------------------------|

| ·   | new products introduced or announced by the Company or its competitors; |
|--------------------|-------------------------------------------------------------------------|

| ·   | changes in financial estimates by securities analysts; |
|--------------------|--------------------------------------------------------|

| ·   | actual or anticipated variations in operating results; |
|--------------------|--------------------------------------------------------|

| ·   | expiration or termination of licenses, research contracts or other collaboration agreements; |
|--------------------|----------------------------------------------------------------------------------------------|

| ·   | conditions or trends in the regulatory climate in the biotechnology, pharmaceutical and genomics industries; |
|--------------------|--------------------------------------------------------------------------------------------------------------|

| ·   | changes in the market values of similar companies; |
|--------------------|----------------------------------------------------|

| ·   | the liquidity of any market for the Company’s securities; and |
|--------------------|---------------------------------------------------------------------|

| ·   | additional sales by the Company of its shares. |
|--------------------|------------------------------------------------|

|                       |                                                                                                    |                                                                                                    |                                                                                                    |
|----------------------------|---------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------|
| Category of Activity       |                                                                                                    |                                                                                                    |                                                                                                    |
|                       |                                                                                                    |                                                                                                    |                                                                                                    |
|                       | 2010                                                                                                    | 2011                                                                                                    | 2012                                                                                                    |
|                       | (A$'000)                                                                                                | (A$'000)                                                                                                | (A$'000)                                                                                                |
|                       |                                                                                                    |                                                                                                    |                                                                                                    |
|                       |                                                                                                    |                                                                                                    |                                                                                                    |
| Revenue from sale of goods | 7,983                                                                                                   | 10,843                                                                                                  | 988                                                                                                     |
|                       |                                                                                                    |                                                                                                    |                                                                                                    |
| Other revenue              | 1,925                                                                                                   | 2,535                                                                                                   | 1,556                                                                                                   |
|                       |                                                                                                    |                                                                                                    |                                                                                                    |
| Total Revenue              | 9,908                                                                                                   | 13,378                                                                                                  | 2,544                                                                                                   |
|                       |                                                                                                    |                                                                                                    |                                                                                                    |
| Geographical Markets       |                                                                                                    |                                                                                                    |                                                                                                    |
|                       |                                                                                                    |                                                                                                    |                                                                                                    |
|                       | 2010                                                                                                    | 2011                                                                                                    | 2012                                                                                                    |
|                       | (A$'000)                                                                                                | (A$'000)                                                                                                | (A$'000)                                                                                                |
|                       |                                                                                                    |                                                                                                    |                                                                                                    |
| Revenue from sale of goods |                                                                                                    |                                                                                                    |                                                                                                    |
|                       |                                                                                                    |                                                                                                    |                                                                                                    |
| Australasia                | 3,955                                                                                                   | 3,793                                                                                                   | 730                                                                                                     |
|                       |                                                                                                    |                                                                                                    |                                                                                                    |
| Europe                     | 2,240                                                                                                   | 2,367                                                                                                   | 87                                                                                                      |
|                       |                                                                                                    |                                                                                                    |                                                                                                    |
| North America              | 1,788                                                                                                   | 1,778                                                                                                   | 171                                                                                                     |
|                       |                                                                                                    |                                                                                                    |                                                                                                    |
| South America              |                  - | 2,905                                                                                                   | 0                                                                                                       |
|                       |                                                                                                    |                                                                                                    |                                                                                                    |
|                       | 7,983                                                                                                   | 10,843                                                                                                  | 988                                                                                                     |
|                       |                                                                                                    |                                                                                                    |                                                                                                    |
| Other revenue              |                                                                                                    |                                                                                                    |                                                                                                    |
|                       |                                                                                                    |                                                                                                    |                                                                                                    |
| Australasia                | 1,824                                                                                                   | 2,404                                                                                                   | 1,421                                                                                                   |
|                       |                                                                                                    |                                                                                                    |                                                                                                    |
| Europe                     | 2                                                                                                       |                  - |                  - |
|                       |                                                                                                    |                                                                                                    |                                                                                                    |
| North America              | 99                                                                                                      | 131                                                                                                     | 135                                                                                                     |
|                       |                                                                                                    |                                                                                                    |                                                                                                    |
|                       | 1,925                                                                                                   | 2,535                                                                                                   | 1,556                                                                                                   |
|                       |                                                                                                    |                                                                                                    |                                                                                                    |
| Total Revenue              | 9,908                                                                                                   | 13,378                                                                                                  | 2,544                                                                                                   |
|                       |                                                                                                    |                                                                                                    |                                                                                                    |

|   | • |   | pre-clinical laboratory evaluations, including formulation and stability testing, and animal tests performed under the FDA’s Good Laboratory Practices regulations to assess pharmacological activity and toxicity potential; |
|--------|---------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • |   | submission and approval of an Investigational New Drug Application, or IND, including results of pre-clinical studies, clinical experience, manufacturing information, and protocols for clinical tests, which must become effective before clinical trials may begin in the U.S.; |
|--------|---------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • |   | obtaining approval of Institutional Review Boards, or IRBs, to administer the products to human subjects in clinical trials; |
|--------|---------|--------|------------------------------------------------------------------------------------------------------------------------------|

|   | • |   | adequate and well-controlled human clinical trials to establish the safety and efficacy of the product for the product’s intended use; |
|--------|---------|--------|----------------------------------------------------------------------------------------------------------------------------------------------|

|   | • |   | development of manufacturing processes which conform to FDA current Good Manufacturing Practices, or cGMPs, as confirmed by FDA inspection; |
|--------|---------|--------|---------------------------------------------------------------------------------------------------------------------------------------------|

|   | • |   | submission of results for pre-clinical and clinical studies, and chemistry, manufacture and control information on the product to the FDA in a New Drug Approval Application, or NDA; and |
|--------|---------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • |   | FDA review and approval of an NDA, prior to any commercial sale, promotion or shipment of a product. |
|--------|---------|--------|------------------------------------------------------------------------------------------------------|

|   | • |   | Phase I: The drug is initially introduced into healthy human subjects or patients and tested for safety and dosage tolerance. Absorption, metabolism, distribution, and excretion testing, among other tests, are generally performed at this stage. These studies may also provide early evidence of effectiveness. |
|--------|---------|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • |   | Phase II: The drug is studied in controlled, exploratory therapeutic trials in a limited number of subjects with the disease or medical condition for which the new drug is intended to be used in order to identify possible adverse effects and safety risks, to determine the preliminary or potential efficacy of the product for specific targeted diseases or medical conditions, and to determine dosage tolerance and the optimal effective dose. |
|--------|---------|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | • |   | Phase III: When Phase II studies demonstrate that a specific dosage range of the drug is likely to be effective and the drug has an acceptable safety profile, controlled, large-scale therapeutic Phase III trials are undertaken at multiple study sites to demonstrate clinical efficacy and to further test for safety in an expanded patient population. These studies are used to evaluate the overall benefit – risk relationship of the drug and provide a basis for physician labelling. |
|--------|---------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Name of Entity               | Country of Incorporation | Ownership % *  |
|------------------------------|--------------------------|---------------------|
| Novogen Laboratories Pty Ltd | Australia                | 100                 |
| Novogen Research Pty Ltd     | Australia                | 100                 |
| Novogen Inc                  | U.S.                     | 100                 |
|   Glycotex, Inc.   | U.S.                     | 99.7                |
| MEI Pharma, Inc. #           | U.S.                     | 63.5                |

|                         | Balance at Beginning of year | Charged to Cost and Expense | Actual Returns | Balance at End of Year |
|------------------------------|------------------------------|-----------------------------|----------------|------------------------|
|                         | A$'000                       | A$'000                      | A$'000         | A$'000                 |
| Allowance for Sales returns: |                         |                        |           |                   |
| Year ended June 30, 2010     | 36                           | 75                          | 110            | 1                      |
| Year ended June 30, 2011     | 1                            | 126                         | 127            | 0                      |
| Year ended June 30, 2012     | 0                            | 16                          | 16             | 0                      |

|                           | Balance at Beginning of year | Charged to Cost and Expense | Actual Discounts | Balance at End of Year |
|--------------------------------|------------------------------|-----------------------------|------------------|-----------------------------|
|                           | A$'000                       | A$'000                      | A$'000           | A$'000                      |
| Allowance for Sales discounts: |                         |                        |             |                        |
| Year ended June 30, 2010       | 142                          | 492                         | 557              | 77                          |
| Year ended June 30, 2011       | 77                           | 490                         | 497              | 70                          |
| Year ended June 30, 2012       | 70                           | 26                          | 96               | 0                           |

| STATEMENT OF COMPREHENSIVE INCOME                                                                                              |   |         |   |   |   |   |    |   |   |   |    |   |
|--------------------------------------------------------------------------------------------------------------------------------|--------|--------------|--------|--------|--------|--------|---------|--------|--------|--------|---------|--------|
| for the year ended 30 June, 2012                                                                                               |   |         |   |   |   |   |    |   |   |   |    |   |
|                                                                                                                           |   | Consolidated |   |
|                                                                                                                           |   | 2012         |   |   | 2011   |   |    | 2010   |   |   | 2012    |   |
|                                                                                                                           |   | A$'000       |   |   | A$'000 |   |    | A$'000 |   |   | US$'000 |   |
| Continuing Operations                                                                                                          |   |         |   |   |   |   |    |   |   |   |    |   |
| Revenue                                                                                                                        |   |         | 1,513  |   |   |   | 2,025   |   |   |   | 1,784   |   |   |   | 1,549 |   |
|                                                                                                                           |   |         |   |   |   |   |    |   |   |   |    |   |   |   |   |   |
| Other income                                                                                                                   |   |         | 937    |   |   |   | 512     |   |   |   | 7       |   |   |   | 959 |   |
|                                                                                                                           |   |         |   |   |   |   |    |   |   |   |    |   |   |   |   |   |
| Research & development expenses                                                                                            |   |         | (5,403 | )      |   |   | (3,902  | )      |   |   | (7,550  | )      |   |   | (5,531 | ) |
| General and administrative expenses                                                                                            |   |         | (5,789 | )      |   |   | (9,562  | )      |   |   | (10,039 | )      |   |   | (5,926 | ) |
| Finance costs                                                                                                                  |   |         | -      |   |   |   | (18     | )      |   |   | (15     | )      |   |   | - |   |
|                                                                                                                           |   |         |   |   |   |   |    |   |   |   |    |   |   |   |   |   |
| Loss before income tax                                                                                                         |   |         | (8,742 | )      |   |   | (10,945 | )      |   |   | (15,813 | )      |   |   | (8,949 | ) |
|                                                                                                                           |   |         |   |   |   |   |    |   |   |   |    |   |   |   |   |   |
| Income tax expense                                                                                                             |   |         | -      |   |   |   | (1      | )      |   |   | (1      | )      |   |   | - |   |
|                                                                                                                           |   |         |   |   |   |   |    |   |   |   |    |   |   |   |   |   |
|                                                                                                                           |   |         |   |   |   |   |    |   |   |   |    |   |   |   |   |   |
| Loss after tax from continuing operations                                                                                      |   |         | (8,742 | )      |   |   | (10,946 | )      |   |   | (15,814 | )      |   |   | (8,949 | ) |
|                                                                                                                           |   |         |   |   |   |   |    |   |   |   |    |   |   |   |   |   |
| Profit after tax from discontinuing operations                                                                                 |   |         | 7,392  |   |   |   | 1,467   |   |   |   | 568     |   |   |   | 7,566 |   |
|                                                                                                                           |   |         |   |   |   |   |    |   |   |   |    |   |   |   |   |   |
| Loss for the period                                                                                                            |   |         | (1,350 | )      |   |   | (9,479  | )      |   |   | (15,246 | )      |   |   | (1,383 | ) |
|                                                                                                                           |   |         |   |   |   |   |    |   |   |   |    |   |   |   |   |   |
| Other comprehensive income                                                                                                     |   |         |   |   |   |   |    |   |   |   |    |   |   |   |   |   |
| Net exchange difference on translation of financial statements of foreign controlled entities (net of tax 2012: Nil, 2011:Nil) |   |         | (278   | )      |   |   | (690    | )      |   |   | (1,079  | )      |   |   | (285 | ) |
|                                                                                                                           |   |         |   |   |   |   |    |   |   |   |    |   |   |   |   |   |
| Other comprehensive income                                                                                                     |   |         | (278   | )      |   |   | (690    | )      |   |   | (1,079  | )      |   |   | (285 | ) |
|                                                                                                                           |   |         |   |   |   |   |    |   |   |   |    |   |   |   |   |   |
| Total comprehensive income                                                                                                     |   |         | (1,628 | )      |   |   | (10,169 | )      |   |   | (16,325 | )      |   |   | (1,668 | ) |

|                               |   |   |   |   | Payments due by period |   |
|------------------------------------|--------|--------|--------|--------|------------------------|--------|
| In A$000's                         |   | Total  |   |   | Less than 1 year       |   |   | 1-3 years |   |   | 3-5 years |   |   | After 5 years |   |
|                               |   |   |   |   |                   |   |   |   |   |   |   |   |   |   |   |
|                               |   |   |   |   |                   |   |   |   |   |   |   |   |   |   |   |
| Operating Leases                   |   |   | 105    |   |                   |   | 102 |   |   |   | 3 |   |   |   | - |   |   |   | - |   |
|                               |   |   |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total Contractual Cash Obligations |   |   | 105    |   |                   |   | 102 |   |   |   | 3 |   |   |   | - |   |   |   | - |   |
|                               |   |   |   |   |                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|                     |   | Short term benefits |      |   | Post employment |   |    | Long term benefits    |   |   | Termination payments |   |   | Share based payments                                                                        |   |   | Total   |   |
|--------------------------|--------|---------------------|-----------|--------|-----------------|--------|---------|-----------------------|--------|--------|----------------------|--------|--------|---------------------------------------------------------------------------------------------|--------|--------|---------|--------|
| 2012                     |   | Salary & fees   |      |   | Cash bonus |   |    | Non-monetary benefits |   |   | Superannuation       |   |   |    Long Service           Leave |   |   | Options |   |   |   |   |
|                     |   |                | $         |   |            |   | $       |                  |   |   | $                    |   |   |                                                                                        | $      |   |    |   | $ |   |   |   | $ |   |   |   |   |   | $ | % |   |   |   | $ |   |
| Key management personnel |   |                |      |   |            |   |    |                  |   |   |                 |   |   |                                                                                        |   |   |    |   |   |   |   |   |   |   |
| Non-executive Directors  |   |                |      |   |            |   |    |                  |   |   |                 |   |   |                                                                                        |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| WD Rueckert (i)          |   |                | 131,328   |   |            |   | -       |                  |   |   | -                    |   |   |                                                                                        | -      |   |    |   | - |   |   |   | - |   |   |   | 30,704 |   |   |   | 18.9 | % |   |   | 162,032 |   |
| JT Austin                |   |                | 46,400    |   |            |   | -       |                  |   |   | -                    |   |   |                                                                                        | -      |   |    |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 46,400 |   |
| JP O'Connor ^            |   |                | 3,303     |   |            |   | -       |                  |   |   | -                    |   |   |                                                                                        | 297    |   |    |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 3,600 |   |
| P Scutt ^                |   |                | 36,330    |   |            |   | -       |                  |   |   | -                    |   |   |                                                                                        | 3,270  |   |    |   | - |   |   |   | - |   |   |   | (3,901 | ) |   |   | -10.9 | % |   |   | 35,699 |   |
| PR White                 |   |                | 47,200    |   |            |   | -       |                  |   |   | -                    |   |   |                                                                                        | -      |   |    |   | - |   |   |   | - |   |   |   | 30,704 |   |   |   | 39.4 | % |   |   | 77,904 |   |
| R Youngman               |   |                | 39,632    |   |            |   | -       |                  |   |   | -                    |   |   |                                                                                        | 3,568  |   |    |   | - |   |   |   | - |   |   |   | 30,704 |   |   |   | 41.5 | % |   |   | 73,904 |   |
|                     |   |                |      |   |            |   |    |                  |   |   |                 |   |   |                                                                                        |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Executives               |   |                |      |   |            |   |    |                  |   |   |                 |   |   |                                                                                        |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| CD Kearney ^ (ii)        |   |                | 26,832    |   |            |   | 25,000  |                  |   |   | 9,032                |   |   |                                                                                        | 7,927  |   |    |   | (3,038 | ) |   |   | 436,158 |   |   |   | (20,934 | ) |   |   | -4.4 | % |   |   | 480,977 |   |
| DP Gold ** (iii)         |   |                | 449,397   |   |            |   | 116,290 |                  |   |   | 20,887               |   |   |                                                                                        | -      |   |    |   | - |   |   |   | - |   |   |   | 228,043 |   |   |   | 28.0 | % |   |   | 814,617 |   |
| TM Zech ** (iv)          |   |                | 265,464   |   |            |   | 48,454  |                  |   |   | 23,418               |   |   |                                                                                        | -      |   |    |   | - |   |   |   | - |   |   |   | 47,106 |   |   |   | 12.3 | % |   |   | 384,442 |   |
| MG Hinze (v)             |   |                | 170,873   |   |            |   | 100,000 |                  |   |   | 15,406               |   |   |                                                                                        | 15,689 |   |    |   | (296 | ) |   |   | - |   |   |   | 24,231 |   |   |   | 7.4 | % |   |   | 325,903 |   |
|                     |   |                |      |   |            |   |    |                  |   |   |                 |   |   |                                                                                        |   |   |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                     |   |                | 1,216,759 |   |            |   | 289,744 |                  |   |   | 68,743               |   |   |                                                                                        | 30,751 |   |    |   | (3,334 | ) |   |   | 436,158 |   |   |   | 366,657 |   |   |   | 15.2 | % |   |   | 2,405,478 |   |

|                    |   | Terms and conditions for each grant |
|-------------------------|--------|-------------------------------------|
|                    |   | Granted number                      |   | Grant date |   |      Value per option      Exercise price        at grant date               per share |   | First exercise date | Last exercise date |
|                    |   |                                |   |   |   |         (US$) |   |   |     (US$) |   |   |   |
| Non-executive Directors |   |                                |   |   |   |   |   |   |   |   |
| WD Rueckert             |   |                                | 25,169 |   | 20/10/2011 |   |   | 1.18 |   |   |   | 1.34 |   | 20/10/2012 | 20/10/2016 |
|                    |   |                                |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Executives              |   |                                |   |   |   |   |   |   |   |   |   |   |   |   |   |
| DP Gold                 |   |                                | 100,000 |   | 1/08/2011 |   |   | 1.66 |   |   |   | 1.90 |   | 1/08/2012 | 1/08/2016 |
| TM Zech                 |   |                                | 26,537 |   | 1/08/2011 |   |   | 1.66 |   |   |   | 1.90 |   | 1/08/2012 | 1/08/2016 |
|                    |   |                                |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                   |   |                                | 151,706 |   |   |   |   |   |   |   |   |   |   |   |   |

|                      |   | 6 May,        |
|---------------------------|--------|---------------|
|                      |   | 2011          |
| Exercise price            |   |  A$0.297 |
| Share price at grant date |   |  A$0.24  |
| Dividend yield            |   | 0%            |
| Expected volatility       |   | 125%          |
| Historical volatility     |   | 125%          |
| Risk-free interest rate   |   | 5.20%         |
| Expected life of option   |   | 3.7 years     |
| Option fair value         |   |  A$0.19  |

|                            |   | 1 June, 2012 |    |   | 20 October, 2011 |   |    | 1 September, 2011 |   |   | 1 August, 2011 |   |   | 1 June, 2011 |    |   | 1 November, 2010 |   |    | 1 September, 2010 |   |
|---------------------------------|--------|--------------|---------|--------|------------------|--------|---------|-------------------|--------|--------|----------------|--------|--------|-------------------|---------|--------|------------------|--------|---------|-------------------|--------|
| Exercise price                  |   |         | US$0.61 |   |             |   | US$1.34 |              |   |   | US$1.53        |   |   |              | US$1.90 |   |             |   | US$1.28 |              |   |   | US$1.15 |   |   |   | US$0.77 |   |
| Share price at grant date       |   |         | US$0.61 |   |             |   | US$1.34 |              |   |   | US$1.53        |   |   |              | US$1.90 |   |             |   | US$1.28 |              |   |   | US$1.15 |   |   |   | US$0.77 |   |
| Dividend yield                  |   |         | 0       | %      |             |   | 0       | %                 |   |   | 0              | %      |   |              | 0       | %      |             |   | 0       | %                 |   |   | 0 | % |   |   | 0 | % |
| Expected volatility             |   |         | 152     | %      |             |   | 148     | %                 |   |   | 147            | %      |   |              | 145     | %      |             |   | 144     | %                 |   |   | 137 | % |   |   | 136 | % |
| Historical volatility           |   |         | 152     | %      |             |   | 148     | %                 |   |   | 147            | %      |   |              | 145     | %      |             |   | 144     | %                 |   |   | 137 | % |   |   | 136 | % |
| Risk-free interest rate         |   |         | 0.62    | %      |             |   | 1.05    | %                 |   |   | 0.90           | %      |   |              | 1.32    | %      |             |   | 1.60    | %                 |   |   | 1.17 | % |   |   | 1.41 | % |
| Expected life of warrant/option |   | 5 years      |    |   | 5 years          |   |    | 5 years           |   |   | 5 years        |   |   | 5 years           |    |   | 5 years          |   |    | 5 years           |   |
| Warrant/option fair value       |   |         | US$0.54 |   |             |   | US$1.18 |              |   |   | US$1.34        |   |   |              | US$1.66 |   |             |   | US$0.67 |              |   |   | US$1.01 |   |   |   | US$1.11 |   |

| Novogen Board of Directors                               |
|----------------------------------------------------------|
|                                                     |   |   |   |
| Name                                                     | Postion Held | Year First | Current Term |
|                                                     |   | Appointed | Expires |
|  Current Directors:                                 |   |   |
| W.D. Rueckert                                            | Chairman | 2009 | October-2013 |
| J.T. Austin                                              | Director | 2010 | October-2014 |
| P.R. White                                               | Director | 2010 | October-2013 |
| R.C. Youngman                                            | Director | 2010 | October-2013 |
| J.P. O'Connor                                            | Director | 2012 | November-2012 |
|                                                     |   |   |   |
| Former Directors who served during the fiscal year 2012: |   |
| P. Scutt                                                 | Director | 2010 | Resigned May 25, 2012 |

| ·   | whether the director has been employed as an Executive of the Company within the last three years; |
|--------------------|----------------------------------------------------------------------------------------------------|

| ·   | whether the director has been a principal of a material professional advisor or consultant of the Company; |
|--------------------|------------------------------------------------------------------------------------------------------------|

| ·   | whether the director has a material contractual relationship with the Company; |
|--------------------|--------------------------------------------------------------------------------|

| ·   | whether the director has served on the Board of Directors for a period which could be perceived to interfere with his or her ability to act in the best interests of the Company; and |
|--------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | whether the director has any business interests which could be perceived to interfere with his or her ability to act in the best interests of the Company. |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Name                  | Position               |
|-----------------------|------------------------|
| William D Rueckert    | Non-Executive Director |
| John P O’Connor | Non-Executive Director |
| Peter R White         | Non-Executive Director |
| Ross C Youngman       | Non-Executive Director |

| Category of Activity       |   | Number of People |
|----------------------------|--------|------------------|
|                       |   |             | 2012 | 2011 | 2010 |
| Research and development   | 4      | 3                | 14 |
| Production                 |   |             | 0 | 1 | 3 |
| Sales and marketing        |   | 0                | 7 | 8 |
| Finance and administration | 9      | 10               | 12 |
| Total                      |   |             | 13 | 21 | 37 |

| Geographic Location |   | Number of People |
|---------------------|--------|------------------|
|                |   | 2012             | 2011 | 2010 |
| Australasia         |   | 3                | 10 | 31 |
| North America       |   | 10               | 10 | 5 |
| Europe              |   | 0                | 1 | 1 |
| Total               |   | 13               | 21 | 37 |

|        |   | Ordinary shares fully paid |       |   | Options            |
|-------------|--------|----------------------------|------------|--------|--------------------|
|        |   |                       |       |   | Number outstanding |   |   | Exercise price |   | Expiry date |
| JT Austin   |   |                       | 20,288,053 |   |               |   | - |   |   |   |   |   |
| WD Rueckert |   |                       | 5,000      |   |               |   | 375,000 |   |   |   | 0.2970 |   | 26 January, 2015 |
| JP O'Connor |   |                       | 253,551    |   |               |   | 35,460 |   |   |   | 1.0600 |   | 1 March, 2013 |
|        |   |                       |       |   |               |   | 45,644 |   |   |   | 0.5256 |   | 6 May, 2014 |
| PR White    |   |                       | -          |   |               |   | 375,000 |   |   |   | 0.2970 |   | 26 January, 2015 |
| RC Youngman |   |                       | -          |   |               |   | 375,000 |   |   |   | 0.2970 |   | 26 January, 2015 |
|        |   |                       | 20,546,604 |   |               |   | 831,104 |   |   |   |   |   |   |

|     | Ordinary shares fully paid | Options |
|----------|----------------------------|---------|
|     |                       |    | Number outstanding | Exercise price | Expiry date |
| MG Hinze | 14,728                     |    | 44,324 | 1.06 | 1 March 2013 |
|     |                       |    | 71,352 | 0.5256 | 6 March 2014 |
|     |                       |    | 250,000 | 0.2970 | 26 January 2015 |
|     | 14,728                     |    | 365,676 |   |   |

| ·   | Novogen is exempt from Nasdaq's quorum requirements applicable to meetings of ordinary shareholders. In keeping with the law of Australia and generally accepted business practices in Australia, Novogen's Constitution requires a quorum of three shareholders for a shareholders' meeting. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Novogen is exempt from Nasdaq's requirement that each Nasdaq issuer shall require shareholder approval of a plan or arrangement in connection with the acquisition of the stock or assets of another company if "any director, officer or substantial shareholder of the issuer has a 5 percent or greater interest (or such persons collectively have a 10 percent or greater interest), directly or indirectly, in the Company or assets to be acquired or in the consideration to be paid in the transaction or series of related transactions and the present or potential issuance of common stock, or securities convertible into or exercisable for common stock, could result in an increase in outstanding common shares or voting power of 5 percent or more". |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| There are no pending legal proceedings which either individually or in the aggregate will have a significant effect on the Company’s financial position or loss, nor have any such proceedings had any impact in the recent past, except that the Company is continuing to prosecute its IP rights and in June 2007 announced that the Vienna Commercial Court had upheld a provisional injunction against an Austrian company, APOtrend. The Company has provided a guarantee to the value of €250,000 with the court to confirm its commitment to the ongoing enforcement process. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                                                                                                                                                                                                                                              |   |                                                                                     |                                                                                     |                             |                                                                                     |                                                                                     |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------|----------------------------------|------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------|
| Period                                                                                                                                                                                                                                                                            |   | Per Ordinary Share (A$)                                                                  |                                                                                     |    Per ADR (US$)* |
|                                                                                                                                                                                                                                                                              |   |   High                                                                         | Low                                                                                      |                             | High                                                                                     | Low                                                                                      |
|                                                                                                                                                                                                                                                                              |   |                                                                                     |                                                                                     |                             |                                                                                     |                                                                                     |
| Year Ended                                                                                                                                                                                                                                                                        |   |                                                                                     |                                                                                     |                             |                                                                                     |                                                                                     |
|                                                                                                                                                                                                                                                                              |   |                                                                                     |                                                                                     |                             |                                                                                     |                                                                                     |
| June 2008                                                                                                                                                                                                                                                                         |   |               2.14 |               0.83 |                             |             50.65            |             19.45            |
| June 2009                                                                                                                                                                                                                                                                         |   |               1.70 |               0.37 |                             |             37.25            |               6.15 |
| June 2010                                                                                                                                                                                                                                                                         |   |               0.89 |               0.17 |                             |             26.20            |               2.85 |
| June 2011                                                                                                                                                                                                                                                                         |   |               0.46 |               0.10 |                             |             14.85            |               2.05 |
| June 2012                                                                                                                                                                                                                                                                         |   |               0.25 |               0.08 |                             |               8.25 |               1.95 |
|                                                                                                                                                                                                                                                                              |   |                                                                                     |                                                                                     |                             |                                                                                     |                                                                                     |
| Quarter Ended                                                                                                                                                                                                                                                                     |   |                                                                                     |                                                                                     |                             |                                                                                     |                                                                                     |
| December 2010                                                                                                                                                                                                                                                                     |   |               0.15 |               0.10 |                             |               3.50 |               2.05 |
| March 2011                                                                                                                                                                                                                                                                        |   |               0.46 |               0.12 |                             |             14.85            |               2.45 |
| June 2011                                                                                                                                                                                                                                                                         |   |               0.34 |               0.14 |                             |             10.70            |               3.90 |
|                                                                                                                                                                                                                                                                              |   |                                                                                     |                                                                                     |                             |                                                                                     |                                                                                     |
| September 2011                                                                                                                                                                                                                                                                    |   |               0.25 |               0.12 |                             |               8.25 |               2.50 |
| December 2011                                                                                                                                                                                                                                                                     |   |               0.14 |               0.09 |                             |               3.60 |               2.00 |
| March 2012                                                                                                                                                                                                                                                                        |   |               0.10 |               0.09 |                             |               3.00 |               2.03 |
| June 2012                                                                                                                                                                                                                                                                         |   |               0.12 |               0.08 |                             |               2.55 |               1.95 |
|                                                                                                                                                                                                                                                                              |   |                                                                                     |                                                                                     |                             |                                                                                     |                                                                                     |
| September 2012                                                                                                                                                                                                                                                                    |   |               0.10 |               0.07 |                             |               2.44 |               1.81 |
|                                                                                                                                                                                                                                                                              |   |                                                                                     |                                                                                     |                             |                                                                                     |                                                                                     |
|                                                                                                                                                                                                                                                                              |   |                                                                                     |                                                                                     |                             |                                                                                     |                                                                                     |
| Month Ended                                                                                                                                                                                                                                                                       |   |                                                                                     |                                                                                     |                             |                                                                                     |                                                                                     |
|                                                                                                                                                                                                                                                                              |   |                                                                                     |                                                                                     |                             |                                                                                     |                                                                                     |
| April 2012                                                                                                                                                                                                                                                                        |   | 0.12                                                                                     | 0.09                                                                                     |                             |               2.55 |               2.30 |
| May 2012                                                                                                                                                                                                                                                                          |   | 0.10                                                                                     | 0.09                                                                                     |                             |               2.44 |               2.00 |
| June 2012                                                                                                                                                                                                                                                                         |   | 0.10                                                                                     | 0.08                                                                                     |                             |               2.19 |               1.95 |
| July 2012                                                                                                                                                                                                                                                                         |   | 0.09                                                                                     | 0.08                                                                                     |                             |               2.44 |               1.95 |
| August 2012                                                                                                                                                                                                                                                                       |   | 0.10                                                                                     | 0.07                                                                                     |                             |               2.20 |               1.85 |
| September 2012                                                                                                                                                                                                                                                                    |   | 0.09                                                                                     | 0.07                                                                                     |                             |               2.16 |               1.81 |
|                                                                                                                                                                                                                                                                              |   |                                                                                     |                                                                                     |                             |                                                                                     |                                                                                     |
| * Note the Company effected a change to the ADR ratio on January 3, 2012. The ratio changed from each ADR representing 5 ordinary shares to now representing 25 ordinary shares. All of the ADR prices presented above have been adjusted to be comparative to the current ratio. |

| Persons depositing or withdrawing shares must pay:                                                                                                        | For:                                                                                                                                                                                                                                                       |
|-----------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| US$5.00 (or less) per 100 ADSs (or portion of 100 ADSs)                                                                                                   | · Issuance of ADSs, including issuances resulting from a distribution of shares or rights or other property · Cancellation of ADSs for the purpose of withdrawal, including if the deposit agree­ment terminates   |
| US$.02 (or less) per ADS                                                                                                                                  | · Any cash distribution to ADS registered holders                                                                                                                                                                                      |
| A fee equivalent to the fee that would be payable if securities distributed to you had been shares and the shares had been deposited for issuance of ADSs | · Distribution of securities distributed to holders of deposited securities which are distributed by the depositary to ADS registered holders                                                                                          |
| US$.02 (or less) per ADSs per calendar year                                                                                                               | · Depositary services                                                                                                                                                                                                                  |
| Registration or transfer fees                                                                                                                             | · Transfer and registration of shares on the Company’s share register to or from the name of the depositary or its agent when you deposit or withdraw shares                                                                          |

| Expenses of the depositary                                                                                                                                                                       | · Cable, telex and facsimile transmissions (when expressly provided in the deposit agreement) · Converting foreign currency to U.S. dollars   |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| Taxes and other governmental charges the depositary or the custodian have to pay on any ADS or share underlying an ADS, for example, stock transfer taxes, stamp duty or withholding taxes  | · As necessary                                                                                                                                                    |
| Any charges incurred by the depositary or its agents for servicing the deposited securities                                                                                                      | · As necessary                                                                                                                                                    |

| Item 14. | Material Modifications to the Rights of Security Holders and the Use of Proceeds |
|----------|----------------------------------------------------------------------------------|

|               | 2012                                                           | 2011                                                           |
|--------------------|----------------------------------------------------------------|----------------------------------------------------------------|
|               | A$’000                                                   | A$’000                                                   |
|               |                                                           |                                                           |
|               |                                                           |                                                           |
| Audit fees         |         106            |         270            |
| Audit related fees |           13 |           83 |
| Tax fees           |           29 |           31 |
| Total fees         |         148            |         384            |

| ·   | Novogen is exempt from Nasdaq's quorum requirements applicable to meetings of ordinary shareholders. In keeping with the law of Australia and generally accepted business practices in Australia, Novogen's Constitution requires a quorum of three shareholders for a shareholders' meeting. |
|--------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | Novogen is exempt from Nasdaq's requirement that each Nasdaq issuer shall require shareholder approval of a plan or arrangement in connection with the acquisition of the stock or assets of another company if "any director, officer or substantial shareholder of the issuer has a 5 percent or greater interest (or such persons collectively have a 10 percent or greater interest), directly or indirectly, in the Company or assets to be acquired or in the consideration to be paid in the transaction or series of related transactions and the present or potential issuance of common stock, or securities convertible into or exercisable for common stock, could result in an increase in outstanding common shares or voting power of 5 percent or more". |
|--------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (a)   | Exhibits |
|-----------------|----------|

| Exhibit No. | Exhibit Description                                                                                                                                                                                                                 |
|-------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 1.1         | Constitution of Novogen Limited (formerly known as the Memorandum of Association and Articles of Association). (1)                                                                                                                  |
| 2.1         | Deposit Agreement as further amended and restated, dated as of September 29, 2005, among Novogen Limited, the Bank of New York, as Depositary, and owners and holders from time to time of ADRs issued thereunder. (2)              |
| 4.1         | Lease between Hyperion Property Syndicates Limited (Lessor) and Novogen Laboratories Pty Ltd for the Company's corporate headquarters at 140 Wicks Road, North Ryde, New South Wales. (5)                                           |
| 4.2         | Employment Contract between the Company and Professor Alan Husband dated March 10, 2010. (5)                                                                                                                                        |
| 4.3         | Employment Contract between the Company and Bryan Palmer dated March 10, 2010. (5)                                                                                                                                                  |
| 4.4         | Employment Contract between the Company and Craig Kearney dated March 10, 2010. (5)                                                                                                                                                 |
| 4.5         | Employment Contract between the Company and Ronald Erratt dated March 10, 2010. (5)                                                                                                                                                 |
| 4.6         | Employment Contract between the Company and Mark Hinze dated September 23, 2010. (5)                                                                                                                                                |
| 4.7         | Patent License Agreement, dated as of November 13, 1997, by and among Novogen Limited, Novogen Research Pty Limited, Novogen Inc. and Protein Technologies International Inc.** (3)                                       |
| 4.8         | Amendment to the Patent License Agreement, dated as of June 21, 2004 by and among Novogen Limited, Novogen Research Pty Limited, Novogen Inc. and Solae LLC (formerly known as Protein Technologies International Inc.)** (4)  |

| 4.9  | Asset Purchase Agreement, dated as of December 21, 2010, between MEI, the Company and Novogen Pty Limited (6).                                                                           |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.10 | Amendment Agreement with Archer Daniels Midland Company, dated June 30, 2011 (6)                                                                                                         |
| 4.11 | Securities Subscription Agreement, dated as of September 27, 2011, between Marshall Edwards, Inc. and Novogen Limited. (7)                                                          |
| 4.12 | Securities Subscription Agreement, dated as of December 28, 2011, between Marshall Edwards, Inc. and Novogen Limited. (8)                                                           |
| 4.13 | Letter from BMS Audit (NSW-VIC) Pty Ltd (formerly named BDO Audit (NSW-VIC) Pty Ltd), dated October 26, 2012, confirming the disclosure in Item 16F. (*)                            |
| 8.1  | Company Subsidiaries. (*)                                                                                                                                                                |
| 12.1 | Certification of the Acting Principal Executive Officer pursuant to Rule 13a – 14(a) of the Securities Exchange Act of 1934, as amended. (*)                                       |
| 12.2 | Certification of Chief Financial Officer pursuant to Rule 13a – 14(a) of the Securities Exchange Act of 1934, as amended. (*)                                                      |
| 13.1 | Certification by the Acting Principal Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350 as added by Section 906 of the Sarbanes – Oxley Act of 2002. (*) |

|   | * | Filed herewith. |
|--------|---|-----------------|

|   | ** | Portions of these documents have been omitted pursuant to a request for confidential treatment. Such omitted portions have been filed separately with the SEC. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (1) | Incorporated by reference to the Registration Statement on Form 20-F filed with the Securities and Exchange Commission on December 24, 1998 (File No. 0-29962) |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)               | Incorporated by reference to the Registration Statement on Form F-6 filed with the Securities and Exchange Commission on September 29, 2005 (File No. 333-128681) |
|------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | Incorporated by reference to the Annual Report on Form 20-F/A filed with the Securities and Exchange Commission on March 20, 2009 (File No. 0-29962). |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (4) | Incorporated by reference to the Annual Report on Form 20-F/A filed with the Securities and Exchange Commission on May 5, 2009 (File No. 0-29962). |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (5) | Incorporated by reference to the Annual Report on Form 20-F filed with the Securities and Exchange Commission on December 13, 2010 (File No. 0-29962). |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (6) | Incorporated by reference to the Annual Report on Form 20-F filed with the Securities and Exchange Commission on December 13, 2011 (File No. 0-29962). |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (7) | Incorporated by reference to Exhibit 10.1 to the Registrant’s Subsidiary’s (MEI Pharma, Inc.) filing on Form 8-K filed on September 29, 2011 (File No. 000-50484). |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (8) | Incorporated by reference to Exhibit 10.1 to the Registrant’s Subsidiary’s (MEI Pharma, Inc.) filing on Form 8-K filed on December 28, 2011 (File No. 000-50484). |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.   | The financial statements, comprising the Statement of Comprehensive Income, Statement of Financial Position, Statement of Cash Flows, Statement of Changes in Equity and accompanying notes, are in accordance with the Corporations Act 2001 and: |
|----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (a)   | comply with Accounting Standards and the Corporations Regulations 2001; and |
|-----------------|-----------------------------------------------------------------------------|

| (b)   | give a true and fair view of the consolidated entity’s financial position as at June 30, 2012 and of its performance for the year ended on that date. |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.   | The Company has included in the notes to the financial statements an explicit and unreserved statement of compliance with International Financial Reporting Standards. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.   | In the Directors’ opinion, there are reasonable grounds to believe that the Company will be able to pay its debts as and when they become due and payable. |
|----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.   | The Directors have been given the declaration by Chief Financial Officer required by section 295A. |
|----------------|----------------------------------------------------------------------------------------------------|

| STATEMENT OF COMPREHENSIVE INCOME                                                                                              |   |   |   |   |         |   |   |   |   |   |    |   |   |    |    |
|--------------------------------------------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------------|--------|--------|--------|--------|--------|---------|--------|--------|---------|---------|
| for the year ended 30 June, 2012                                                                                               |   |   |   |   |         |   |   |   |   |   |    |   |   |    |    |
|                                                                                                                           |   | Notes  |   |   | Consolidated |   |
|                                                                                                                           |   |   |   |   | 2012         |   |   | 2011   |   |   | 2010    |   |   | 2012    |    |
|                                                                                                                           |   |   |   |   | A$'000       |   |   | A$'000 |   |   | A$'000  |   |   | US$'000 |    |
| Continuing Operations                                                                                                          |   |   |   |   |         |   |   |   |   |   |    |   |   |    |    |
| Revenue                                                                                                                        |   |   | 2      |   |         |   | 1,513  |   |   |   | 2,025   |   |   |    | 1,784   |   |   |   | 1,549 |   |
|                                                                                                                           |   |   |   |   |         |   |   |   |   |   |    |   |   |    |    |   |   |   |   |   |
| Other income                                                                                                                   |   |   | 2      |   |         |   | 937    |   |   |   | 512     |   |   |    | 7       |   |   |   | 959 |   |
|                                                                                                                           |   |   |   |   |         |   |   |   |   |   |    |   |   |    |    |   |   |   |   |   |
| Research & development expenses                                                                                            |   |   |   |   |         |   | (5,403 | )      |   |   | (3,902  | )      |   |    | (7,550  | ) |   |   | (5,531 | ) |
| General and administrative expenses                                                                                            |   |   |   |   |         |   | (5,789 | )      |   |   | (9,562  | )      |   |    | (10,039 | ) |   |   | (5,926 | ) |
| Finance costs                                                                                                                  |   |   |   |   |         |   | -      |   |   |   | (18     | )      |   |    | (15     | ) |   |   | - |   |
|                                                                                                                           |   |   |   |   |         |   |   |   |   |   |    |   |   |    |    |   |   |   |   |   |
| Loss before income tax                                                                                                         |   |   | 2      |   |         |   | (8,742 | )      |   |   | (10,945 | )      |   |    | (15,813 | ) |   |   | (8,949 | ) |
|                                                                                                                           |   |   |   |   |         |   |   |   |   |   |    |   |   |    |    |   |   |   |   |   |
| Income tax expense                                                                                                             |   |   | 3      |   |         |   | -      |   |   |   | (1      | )      |   |    | (1      | ) |   |   | - |   |
|                                                                                                                           |   |   |   |   |         |   |   |   |   |   |    |   |   |    |    |   |   |   |   |   |
|                                                                                                                           |   |   |   |   |         |   |   |   |   |   |    |   |   |    |    |   |   |   |   |   |
| Loss after tax from continuing operations                                                                                      |   |   |   |   |         |   | (8,742 | )      |   |   | (10,946 | )      |   |    | (15,814 | ) |   |   | (8,949 | ) |
|                                                                                                                           |   |   |   |   |         |   |   |   |   |   |    |   |   |    |    |   |   |   |   |   |
| Profit after tax from discontinuing operations                                                                                 |   |   | 21     |   |         |   | 7,392  |   |   |   | 1,467   |   |   |    | 568     |   |   |   | 7,566 |   |
|                                                                                                                           |   |   |   |   |         |   |   |   |   |   |    |   |   |    |    |   |   |   |   |   |
| Loss for the period                                                                                                            |   |   |   |   |         |   | (1,350 | )      |   |   | (9,479  | )      |   |    | (15,246 | ) |   |   | (1,383 | ) |
|                                                                                                                           |   |   |   |   |         |   |   |   |   |   |    |   |   |    |    |   |   |   |   |   |
| Other comprehensive income                                                                                                     |   |   |   |   |         |   |   |   |   |   |    |   |   |    |    |   |   |   |   |   |
| Net exchange difference on translation of financial statements of foreign controlled entities (net of tax 2012: Nil, 2011:Nil) |   |   |   | (278   | )            |   |   | (690   | )      |   |    | (1,079 | )      |    |    | (285 | ) |
|                                                                                                                           |   |   |   |   |         |   |   |   |   |   |    |   |   |    |    |   |   |   |   |   |
| Other comprehensive income                                                                                                     |   |   |   |   |         |   | (278   | )      |   |   | (690    | )      |   |    | (1,079  | ) |   |   | (285 | ) |
|                                                                                                                           |   |   |   |   |         |   |   |   |   |   |    |   |   |    |    |   |   |   |   |   |
| Total comprehensive income                                                                                                     |   |   |   |   |         |   | (1,628 | )      |   |   | (10,169 | )      |   |    | (16,325 | ) |   |   | (1,668 | ) |
|                                                                                                                           |   |   |   |   |         |   |   |   |   |   |    |   |   |    |    |   |   |   |   |   |
|                                                                                                                           |   |   |   |   |         |   |   |   |   |   |    |   |   |    |    |   |   |   |   |   |
| Profit/(loss) attributable to:                                                                                                 |   |   |   |   |         |   |   |   |   |   |    |   |   |    |    |   |   |   |   |   |
| Non-controlling interest                                                                                                       |   |   |   |   |         |   | (2,659 | )      |   |   | (2,981  | )      |   |    | (2,901  | ) |   |   | (2,722 | ) |
| Novogen Limited                                                                                                                |   |   | 12     | (c)    |         |   | 1,309  |   |   |   | (6,498  | )      |   |    | (12,345 | ) |   |   | 1,340 |   |
|                                                                                                                           |   |   |   |   |         |   | (1,350 | )      |   |   | (9,479  | )      |   |    | (15,246 | ) |   |   | (1,382 | ) |
|                                                                                                                           |   |   |   |   |         |   |   |   |   |   |    |   |   |    |    |   |   |   |   |   |
| Total comprehensive income attributable to:                                                                                    |   |   |   |   |         |   |   |   |   |   |    |   |   |    |    |   |   |   |   |   |
| Non-controlling interest                                                                                                       |   |   |   |   |         |   | (2,707 | )      |   |   | (3,388  | )      |   |    | (3,212  | ) |   |   | (2,772 | ) |
| Novogen Limited                                                                                                                |   |   |   |   |         |   | 1,079  |   |   |   | (6,781  | )      |   |    | (13,113 | ) |   |   | 1,104 |   |
|                                                                                                                           |   |   |   |   |         |   | (1,628 | )      |   |   | (10,169 | )      |   |    | (16,325 | ) |   |   | (1,668 | ) |
|                                                                                                                           |   |   |   |   |         |   |   |   |   |   |    |   |   |    |    |   |   |   |   |   |
| Basic and diluted earnings/(loss) per share (cents) from continuing operations                                                 |   |   | 4      |   |         |   | (5.9   | )      |   |   | (7.8    | )      |   |    | (12.6   | ) |   |   | (6.0 | ) |
| Basic and diluted earnings/(loss) per share (cents) from discontinuing operations                                              |   |   | 4      |   |         |   | 7.2    |   |   |   | 1.4     |   |   |    | 0.6     |   |   |   | 7.4 |   |
| Basic and diluted earnings/(loss) per share (cents)                                                                            |   |   | 4      |   |         |   | 1.3    |   |   |   | (6.4    | )      |   |    | (12.1   | ) |   |   | 1.3 |   |

| STATEMENT OF FINANCIAL POSITION                                |   |   |   |   |         |   |     |   |   |   |     |   |
|----------------------------------------------------------------|--------|--------|--------|--------|--------------|--------|----------|--------|--------|--------|----------|--------|
| as at 30 June, 2012                                            |   |   |   |   |         |   |     |   |   |   |     |   |
|                                                           |   | Notes  |   |   | Consolidated |   |
|                                                           |   |   |   |   | 2012         |   |     | 2011   |   |   | 2012     |   |
|                                                           |   |   |   |   | A$'000       |   |     | A$'000 |   |   | US$'000  |   |
| CURRENT ASSETS                                                 |   |   |   |   |         |   |     |   |   |   |     |   |
| Cash and cash equivalents                                      |   |   | 5      |   |         |   | 8,348    |   |   |   | 6,016    |   |   |   | 8,545 |   |
| Trade and other receivables                                    |   |   | 6      |   |         |   | 404      |   |   |   | 5,469    |   |   |   | 414 |   |
| Assets held for sale - inventories                             |   |   | 7      |   |         |   | -        |   |   |   | 654      |   |   |   | - |   |
| Other current assets                                           |   |   | 8      |   |         |   | 206      |   |   |   | 521      |   |   |   | 211 |   |
| Total current assets                                           |   |   |   |   |         |   | 8,958    |   |   |   | 12,660   |   |   |   | 9,170 |   |
|                                                           |   |   |   |   |         |   |     |   |   |   |     |   |   |   |   |   |
| NON-CURRENT ASSETS                                             |   |   |   |   |         |   |     |   |   |   |     |   |   |   |   |   |
| Property, plant and equipment                                  |   |   | 9      |   |         |   | 27       |   |   |   | 67       |   |   |   | 28 |   |
| Total non-current assets                                       |   |   |   |   |         |   | 27       |   |   |   | 67       |   |   |   | 28 |   |
|                                                           |   |   |   |   |         |   |     |   |   |   |     |   |   |   |   |   |
| TOTAL ASSETS                                                   |   |   |   |   |         |   | 8,985    |   |   |   | 12,727   |   |   |   | 9,198 |   |
|                                                           |   |   |   |   |         |   |     |   |   |   |     |   |   |   |   |   |
| CURRENT LIABILITIES                                            |   |   |   |   |         |   |     |   |   |   |     |   |   |   |   |   |
| Trade and other payables                                       |   |   | 10     |   |         |   | 3,675    |   |   |   | 6,386    |   |   |   | 3,762 |   |
| Provisions                                                     |   |   | 11     |   |         |   | 190      |   |   |   | 770      |   |   |   | 194 |   |
| Derivative liability                                           |   |   | 15     |   |         |   | -        |   |   |   | 1,047    |   |   |   | - |   |
| Total current liabilities                                      |   |   |   |   |         |   | 3,865    |   |   |   | 8,203    |   |   |   | 3,956 |   |
|                                                           |   |   |   |   |         |   |     |   |   |   |     |   |   |   |   |   |
| NON-CURRENT LIABILITIES                                        |   |   |   |   |         |   |     |   |   |   |     |   |   |   |   |   |
| Provisions                                                     |   |   | 11     |   |         |   | 7        |   |   |   | 104      |   |   |   | 7 |   |
| Total non-current liabilities                                  |   |   |   |   |         |   | 7        |   |   |   | 104      |   |   |   | 7 |   |
|                                                           |   |   |   |   |         |   |     |   |   |   |     |   |   |   |   |   |
| TOTAL LIABILITIES                                              |   |   |   |   |         |   | 3,872    |   |   |   | 8,307    |   |   |   | 3,963 |   |
|  NET ASSETS                                               |   |   |   |   |         |   | 5,113    |   |   |   | 4,420    |   |   |   | 5,235 |   |
|                                                           |   |   |   |   |         |   |     |   |   |   |     |   |   |   |   |   |
| EQUITY                                                         |   |   |   |   |         |   |     |   |   |   |     |   |   |   |   |   |
| Contributed equity                                             |   |   | 12     | (a)    |         |   | 199,026  |   |   |   | 194,295  |   |   |   | 203,723 |   |
| Reserves                                                       |   |   | 12     | (b)    |         |   | (3,850   | )      |   |   | (3,422   | )      |   |   | (3,940 | ) |
| Accumulated losses                                             |   |   | 12     | (c)    |         |   | (191,701 | )      |   |   | (186,644 | )      |   |   | (196,225 | ) |
| Capital and reserves attributable to owners of Novogen Limited |   |   |   | 3,475  |         |   |     | 4,229  |   |   |     | 3,558  |   |
|                                                           |   |   |   |   |         |   |     |   |   |   |     |   |   |   |   |   |
| Non-controlling interest                                       |   |   | 12     | (d)    |         |   | 1,638    |   |   |   | 191      |   |   |   | 1,677 |   |
|                                                           |   |   |   |   |         |   |     |   |   |   |     |   |   |   |   |   |
| TOTAL EQUITY                                                   |   |   |   |   |         |   | 5,113    |   |   |   | 4,420    |   |   |   | 5,235 |   |

| STATEMENT OF CHANGES IN EQUITY                                                                          |   |               |    |   |               |   |     |     |   |   |   |   |   |                     |    |   |
|---------------------------------------------------------------------------------------------------------|--------|--------------------|---------|--------|--------------------|--------|----------|----------|--------|--------|--------|--------|--------|--------------------------|---------|--------|
| for the year ended 30 June, 2012                                                                        |   |               |    |   |               |   |     |     |   |   |   |   |   |                     |    |   |   |   |   |
|                                                                                                    |   |               |    |   |               |   |     |     |   |   |   |   |   |                     |    |   |   |   |   |   |   |
|                                                                                                    |   |               |    |   |               |   |     |     |   |   |   |   |   |                     |    |   |   |   |   |   |   |
| Consolidated                                                                                            |   | Contributed equity |    |   | Accumulated losses |   |     | Reserves |   |   | Total  |   |   | Non-controlling interest |    |   | Total equity |   |   | Total equity |   |
|                                                                                                    |   | A$'000             |    |   | A$'000             |   |     | A$'000   |   |   | A$'000 |   |   | A$'000                   |    |   | A$'000 |   |   | US$'000 |   |
|                                                                                                    |   |               |    |   |               |   |     |     |   |   |   |   |   |                     |    |   |   |   |   |   |   |
| At 1 July, 2009                                                                                         |   |               | 206,419 |   |               |   | (179,730 | )        |   |   | (3,010 | )      |   |                     | 23,679  |   |   |   | 5,094 |   |   |   | 28,773 |   |   |   | 29,453 |   |
|                                                                                                    |   |               |    |   |               |   |     |     |   |   |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss for the period                                                                                     |   |               | -       |   |               |   | (12,345  | )        |   |   | -      |   |   |                     | (12,345 | )      |   |   | (2,901 | ) |   |   | (15,246 | ) |   |   | (15,606 | ) |
| Exchange differences on translation of foreign operations                                               |   |               | -       |   |               |   | -        |     |   |   | (768   | )      |   |                     | (768    | )      |   |   | (311 | ) |   |   | (1,079 | ) |   |   | (1,104 | ) |
| Total comprehensive income                                                                              |   |               | -       |   |               |   | (12,345  | )        |   |   | (768   | )      |   |                     | (13,113 | )      |   |   | (3,212 | ) |   |   | (16,325 | ) |   |   | (16,710 | ) |
| Share-based payments                                                                                    |   |               | -       |   |               |   | 623      |     |   |   | -      |   |   |                     | 623     |   |   |   | 105 |   |   |   | 728 |   |   |   | 745 |   |
| Total transactions with owners in their capacity as owners                                              |   |               | -       |   |               |   | 623      |     |   |   | -      |   |   |                     | 623     |   |   |   | 105 |   |   |   | 728 |   |   |   | 745 |   |
|                                                                                                    |   |               |    |   |               |   |     |     |   |   |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| At 30 June, 2010                                                                                        |   |               | 206,419 |   |               |   | (191,452 | )        |   |   | (3,778 | )      |   |                     | 11,189  |   |   |   | 1,987 |   |   |   | 13,176 |   |   |   | 13,488 |   |
|                                                                                                    |   |               |    |   |               |   |     |     |   |   |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| At 1 July, 2010                                                                                         |   |               | 206,419 |   |               |   | (191,452 | )        |   |   | (3,778 | )      |   |                     | 11,189  |   |   |   | 1,987 |   |   |   | 13,176 |   |   |   | 13,488 |   |
|                                                                                                    |   |               |    |   |               |   |     |     |   |   |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Loss for the period                                                                                     |   |               | -       |   |               |   | (6,498   | )        |   |   | -      |   |   |                     | (6,498  | )      |   |   | (2,981 | ) |   |   | (9,479 | ) |   |   | (9,703 | ) |
| Exchange differences on translation of foreign operations                                               |   |               | -       |   |               |   | -        |     |   |   | (283   | )      |   |                     | (283    | )      |   |   | (407 | ) |   |   | (690 | ) |   |   | (706 | ) |
| Total comprehensive income                                                                              |   |               | -       |   |               |   | (6,498   | )        |   |   | (283   | )      |   |                     | (6,781  | )      |   |   | (3,388 | ) |   |   | (10,169 | ) |   |   | (10,409 | ) |
| Issue of share capital by subsidiary                                                                    |   |               | 706     |   |               |   | -        |     |   |   | -      |   |   |                     | 706     |   |   |   | - |   |   |   | 706 |   |   |   | 723 |   |
| less non-controlling interest                                                                           |   |               | (289    | )      |               |   | -        |     |   |   | -      |   |   |                     | (289    | )      |   |   | 289 |   |   |   | - |   |   |   | - |   |
| Share-based payments                                                                                    |   |               | -       |   |               |   | 116      |     |   |   | -      |   |   |                     | 116     |   |   |   | 591 |   |   |   | 707 |   |   |   | 724 |   |
| Share of opening equity transferred to non-controlling interest due to issuance of shares by subsidiary |   |               | (12,541 | )      |               |   | 11,190   |     |   |   | 639    |   |   |                     | (712    | )      |   |   | 712 |   |   |   | - |   |   |   | - |   |
| Total transactions with owners in their capacity as owners                                              |   |               | (12,124 | )      |               |   | 11,306   |     |   |   | 639    |   |   |                     | (179    | )      |   |   | 1,592 |   |   |   | 1,413 |   |   |   | 1,447 |   |
|                                                                                                    |   |               |    |   |               |   |     |     |   |   |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| At 30 June, 2011                                                                                        |   |               | 194,295 |   |               |   | (186,644 | )        |   |   | (3,422 | )      |   |                     | 4,229   |   |   |   | 191 |   |   |   | 4,420 |   |   |   | 4,526 |   |
|                                                                                                    |   |               |    |   |               |   |     |     |   |   |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| At 1 July, 2011                                                                                         |   |               | 194,295 |   |               |   | (186,644 | )        |   |   | (3,422 | )      |   |                     | 4,229   |   |   |   | 191 |   |   |   | 4,420 |   |   |   | 4,526 |   |
|                                                                                                    |   |               |    |   |               |   |     |     |   |   |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Profit/(loss) for the period                                                                            |   |               | -       |   |               |   | 1,309    |     |   |   | -      |   |   |                     | 1,309   |   |   |   | (2,659 | ) |   |   | (1,350 | ) |   |   | (1,382 | ) |
| Exchange differences on translation of foreign operations                                               |   |               | -       |   |               |   | -        |     |   |   | (230   | )      |   |                     | (230    | )      |   |   | (48 | ) |   |   | (278 | ) |   |   | (285 | ) |
| Total comprehensive income                                                                              |   |               | -       |   |               |   | 1,309    |     |   |   | (230   | )      |   |                     | 1,079   |   |   |   | (2,707 | ) |   |   | (1,628 | ) |   |   | (1,667 | ) |
| Issue of share capital                                                                                  |   |               | 164     |   |               |   | -        |     |   |   | -      |   |   |                     | 164     |   |   |   | - |   |   |   | 164 |   |   |   | 168 |   |
| Issue of share capital by subsidiary                                                                    |   |               | 1,606   |   |               |   | -        |     |   |   | -      |   |   |                     | 1,606   |   |   |   | - |   |   |   | 1,606 |   |   |   | 1,644 |   |
| less non-controlling interest                                                                           |   |               | (3,560  | )      |               |   | -        |     |   |   | -      |   |   |                     | (3,560  | )      |   |   | 3,560 |   |   |   | - |   |   |   | - |   |
| Share-based payments                                                                                    |   |               | -       |   |               |   | 730      |     |   |   | -      |   |   |                     | 730     |   |   |   | (179 | ) |   |   | 551 |   |   |   | 564 |   |
| Share of opening equity transferred to non-controlling interest due to issuance of shares by subsidiary |   |               | 6,521   |   |               |   | (7,096   | )        |   |   | (198   | )      |   |                     | (773    | )      |   |   | 773 |   |   |   | - |   |   |   | - |   |
| Total transactions with owners in their capacity as owners                                              |   |               | 4,731   |   |               |   | (6,366   | )        |   |   | (198   | )      |   |                     | (1,833  | )      |   |   | 4,154 |   |   |   | 2,321 |   |   |   | 2,376 |   |
|                                                                                                    |   |               |    |   |               |   |     |     |   |   |   |   |   |                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| At 30 June, 2012                                                                                        |   |               | 199,026 |   |               |   | (191,701 | )        |   |   | (3,850 | )      |   |                     | 3,475   |   |   |   | 1,638 |   |   |   | 5,113 |   |   |   | 5,235 |   |

| STATEMENT OF CASH FLOWS                                                     |   |   |         |   |   |   |   |   |   |   |   |    |   |
|-----------------------------------------------------------------------------|--------|--------|--------------|--------|--------|--------|--------|--------|--------|--------|--------|---------|--------|
| for the year ended 30 June, 2012                                            |   |   |         |   |   |   |   |   |   |   |   |    |   |
|                                                                        |   |   |         |   |   |   |   |   |   |   |   |    |   |
|                                                                        | Notes  |   | Consolidated |   |
|                                                                        |   |   | 2012         |   |   | 2011   |   |   | 2010   |   |   | 2012    |   |
|                                                                        |   |   | A$'000       |   |   | A$'000 |   |   | A$'000 |   |   | US$'000 |   |
|                                                                        |   |   |         |   |   |   |   |   |   |   |   |    |   |
| Cash flows from operating activities                                        |   |   |         |   |   |   |   |   |   |   |   |    |   |
| Net loss before tax                                                         |   |   |         | (1,343 | )      |   |   | (9,474 | )      |   |   | (15,236 | )      |   |   | (1,375 | ) |
| Income tax paid                                                             |   |   |         | (7     | )      |   |   | (5     | )      |   |   | (10     | )      |   |   | (7 | ) |
|                                                                        |   |   |         |   |   |   |   |   |   |   |   |    |   |   |   |   |   |
| Adjustments to reconcile net loss to net cash used in operating activities: |   |   |         |   |   |   |   |   |   |   |   |    |   |
| Depreciation and amortisation                                               |   |   |         | 25     |   |   |   | 83     |   |   |   | 198     |   |   |   | 26 |   |
| Net (gain)/loss on disposal of property, plant and equipment                |   |   | 9            |   |   |   | (265   | )      |   |   | (7     | )       |   |   | 9 |   |
| Share-based payments                                                        |   |   |         | 574    |   |   |   | 651    |   |   |   | 728     |   |   |   | 588 |   |
| Sale of business - gain on disposal                                         |   |   |         | (7,992 | )      |   |   | -      |   |   |   | -       |   |   |   | (8,180 | ) |
|                                                                        |   |   |         |   |   |   |   |   |   |   |   |    |   |   |   |   |   |
| Changes in operating assets and liabilities:                                |   |   |         |   |   |   |   |   |   |   |   |    |   |   |   |   |   |
| (increase)/decrease in trade receivables                                    |   |   |         | 2,408  |   |   |   | (1,172 | )      |   |   | 252     |   |   |   | 2,465 |   |
| (increase)/decrease in other receivables                                    |   |   |         | 2,657  |   |   |   | (2,313 | )      |   |   | 16      |   |   |   | 2,720 |   |
| (increase)/decrease in inventories                                          |   |   |         | 654    |   |   |   | 907    |   |   |   | (227    | )      |   |   | 669 |   |
| (increase)/decrease in prepayments                                          |   |   |         | 315    |   |   |   | (79    | )      |   |   | 123     |   |   |   | 322 |   |
| increase/(decrease) in trade and other payables                             |   |   |         | (2,711 | )      |   |   | 1,021  |   |   |   | (2,694  | )      |   |   | (2,775 | ) |
| increase/(decrease) in provisions                                           |   |   |         | (677   | )      |   |   | 125    |   |   |   | (261    | )      |   |   | (693 | ) |
| increase/(decrease) in derivative liability                                 |   |   |         | (1,047 | )      |   |   | 1,047  |   |   |   | -       |   |   |   | (1,072 | ) |
| exchange rate change on opening cash                                        |   |   |         | (214   | )      |   |   | 771    |   |   |   | 512     |   |   |   | (219 | ) |
|                                                                        |   |   |         |   |   |   |   |   |   |   |   |    |   |   |   |   |   |
| Net cash flows from/(used in) operating activities                          |   |   |         | (7,349 | )      |   |   | (8,703 | )      |   |   | (16,606 | )      |   |   | (7,522 | ) |
|                                                                        |   |   |         |   |   |   |   |   |   |   |   |    |   |   |   |   |   |
| Cash flows from investing activities                                        |   |   |         |   |   |   |   |   |   |   |   |    |   |   |   |   |   |
| Acquisition of property, plant and equipment                                |   |   |         | (1     | )      |   |   | (56    | )      |   |   | (22     | )      |   |   | (1 | ) |
| Proceeds from sale of plant and equipment                                   |   |   |         | 7      |   |   |   | 343    |   |   |   | 12      |   |   |   | 7 |   |
| Sale of business - net proceeds                                             |   |   |         | 9,500  |   |   |   | -      |   |   |   | -       |   |   |   | 9,724 |   |
| Sale of business - related costs                                            |   |   |         | (1,508 | )      |   |   | -      |   |   |   | -       |   |   |   | (1,544 | ) |
|                                                                        |   |   |         |   |   |   |   |   |   |   |   |    |   |   |   |   |   |
| Net cash flows from/(used in) investing activities                          |   |   |         | 7,998  |   |   |   | 287    |   |   |   | (10     | )      |   |   | 8,186 |   |
|                                                                        |   |   |         |   |   |   |   |   |   |   |   |    |   |   |   |   |   |
| Financing Activities                                                        |   |   |         |   |   |   |   |   |   |   |   |    |   |   |   |   |   |
| Proceeds from the issue of shares by subsidiary                             |   |   |         | 1,747  |   |   |   | 763    |   |   |   | -       |   |   |   | 1,788 |   |
|                                                                        |   |   |         |   |   |   |   |   |   |   |   |    |   |   |   |   |   |
| Net cash flows from/(used in) financing activities                          |   |   |         | 1,747  |   |   |   | 763    |   |   |   | -       |   |   |   | 1,788 |   |
|                                                                        |   |   |         |   |   |   |   |   |   |   |   |    |   |   |   |   |   |
| Net (decrease)/increase in cash and cash equivalents                        |   |   |         | 2,396  |   |   |   | (7,653 | )      |   |   | (16,616 | )      |   |   | 2,452 |   |
| Cash and cash equivalents at beginning of period                            |   |   |         | 5,766  |   |   |   | 14,131 |   |   |   | 32,338  |   |   |   | 5,902 |   |
| Effect of exchange rates on cash holdings in foreign currencies             |   |   | (64          | )      |   |   | (1,462 | )      |   |   | (1,591 | )       |   |   | (66 | ) |
| Movements in secured facility                                               |   |   |         | -      |   |   |   | 750    |   |   |   | -       |   |   |   | - |   |
|                                                                        |   |   |         |   |   |   |   |   |   |   |   |    |   |   |   |   |   |
| Cash and cash equivalents at end of period                                  | 5      |   |         | 8,098  |   |   |   | 5,766  |   |   |   | 14,131  |   |   |   | 8,288 |   |

|   | Revenues, expenses and assets are recognised net of the amount of GST receipt except: |
|--------|---------------------------------------------------------------------------------------|

| ·   | when the GST incurred on a purchase of goods or services is not recoverable from the taxation authority, in which case the GST is recognised as part of the cost of acquisition of the asset or as part of the expense item as applicable; and |
|--------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ·   | receivables and payables, which are stated with the amounts of GST included. |
|--------------------|------------------------------------------------------------------------------|

|     Plant and equipment    | 2.5-10 years   |   |
|-------------------------------------------|----------------|--------|
|     Leasehold improvements | the lease term |   |

|                                                |   | Consolidated |   |
|-----------------------------------------------------|--------|--------------|--------|
|                                                |   | 2012         |   |   | 2011 |   |   | 2010 |   |
|                                                |   | A$'000       |   |   | A$'000 |   |   | A$'000 |   |
|                                                |   |         |   |   |   |   |   |   |   |
| Revenue and other income from continuing operations |   |         |   |   |   |   |   |   |   |
|                                                |   |         |   |   |   |   |   |   |   |
| (a) Revenue                                         |   |         |   |   |   |   |   |   |   |
| Bank interest                                       |   |         | 285    |   |   |   | 144 |   |   |   | 290 |   |
| Royalties                                           |   |         | 1,162  |   |   |   | 1,714 |   |   |   | 1,492 |   |
| Dividends                                           |   |         | 66     |   |   |   | 165 |   |   |   | - |   |
| Other                                               |   |         | -      |   |   |   | 2 |   |   |   | 2 |   |
| Total revenue                                       |   |         | 1,513  |   |   |   | 2,025 |   |   |   | 1,784 |   |
|                                                |   |         |   |   |   |   |   |   |   |   |   |   |
| (b) Other income                                    |   |         |   |   |   |   |   |   |   |   |   |   |
| Government grants - research and development        |   |         | -      |   |   |   | 247 |   |   |   | - |   |
| Gain on fair value of derivative liability          |   |         | 728    |   |   |   | - |   |   |   | - |   |
| Net gains on disposal of investment                 |   |         | 199    |   |   |   | - |   |   |   | - |   |
| Net gains on disposal of plant and equipment        |   |         | -      |   |   |   | 265 |   |   |   | 7 |   |
| Other                                               |   |         | 10     |   |   |   | - |   |   |   | - |   |
|                                                |   |         | 937    |   |   |   | 512 |   |   |   | 7 |   |

| (c) Other expenses*                                                                      |   |   |   |   |   |   |   |   |   |
|------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| Inventory impairment                                                                     |   |   | 12     |   |   |   | 12     |   |   |   | - |   |
|                                                                                     |   |   | 12     |   |   |   | 12     |   |   |   | - |   |
|                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| (d) Depreciation included in the statement of comprehensive income*                      |   |   |   |   |   |   |   |   |   |
| Depreciation :                                                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Included in administrative expenses                                                      |   |   | 25     |   |   |   | 83     |   |   |   | 198 |   |
|                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| (e) Lease payments and other expenses included in the statement of comprehensive income* |   |
| Included in administrative expenses:                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| Minimum lease payments - operating leases                                                |   |   | 246    |   |   |   | 402    |   |   |   | 476 |   |
| Net foreign exchange differences                                                         |   |   | (214   | )      |   |   | 771    |   |   |   | 512 |   |
| Net loss on disposal of plant and equipment                                              |   |   | 9      |   |   |   | -      |   |   |   | - |   |
| Share issue expenses                                                                     |   |   | -      |   |   |   | 433    |   |   |   | - |   |
| Onerous lease provision movement - operating leases                                      |   |   | (37    | )      |   |   | -      |   |   |   | - |   |
| Included in research and development expenses:                                           |   |   |   |   |   |   |   |   |   |   |   |   |
| Onerous lease expense - operating leases                                                 |   |   | -      |   |   |   | 550    |   |   |   | - |   |
|                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |
| (f) Employee benefit expense*                                                            |   |   |   |   |   |   |   |   |   |   |   |   |
| Wages and salaries                                                                       |   |   | 3,225  |   |   |   | 4,609  |   |   |   | 5,453 |   |
| Workers' compensation costs                                                              |   |   | 1      |   |   |   | 27     |   |   |   | 47 |   |
| Defined contribution plan expense                                                        |   |   | 90     |   |   |   | 336    |   |   |   | 573 |   |
| Termination costs                                                                        |   |   | 1,155  |   |   |   | 655    |   |   |   | 3,017 |   |
| Share-based payments expense                                                             |   |   | 574    |   |   |   | 651    |   |   |   | 728 |   |
|                                                                                     |   |   | 5,045  |   |   |   | 6,278  |   |   |   | 9,818 |   |

|                                                                                                                                                                                                                                      |   | Consolidated |   |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------|--------|
|                                                                                                                                                                                                                                      |   | 2012         |   |   | 2011 |   |   | 2010 |   |
|                                                                                                                                                                                                                                      |   | A$'000       |   |   | A$'000 |   |   | A$'000 |   |
| A reconciliation between tax expense and the product of accounting (loss)/profit before income tax multiplied by the Group's applicable tax rate is as follows:                                                                           |   |
|                                                                                                                                                                                                                                      |   |         |   |   |   |   |   |   |   |
| Accounting (loss)/profit before tax from continuing and discontinuing operations                                                                                                                                                          |   |         | (1,343 | ) |   |   | (9,474 | ) |   |   | (15,236 | ) |
|                                                                                                                                                                                                                                      |   |         |   |   |   |   |   |   |   |   |   |   |
| At the Group's statutory income tax rate of 30% (2011 and 2010: 30%)                                                                                                                                                                      |   |         | (403   | ) |   |   | (2,842 | ) |   |   | (4,571 | ) |
|                                                                                                                                                                                                                                      |   |         |   |   |   |   |   |   |   |   |   |   |
| Foreign tax rate differentials                                                                                                                                                                                                            |   |         | (860   | ) |   |   | (139 | ) |   |   | (184 | ) |
| Non deductible expenses                                                                                                                                                                                                                   |   |         | 159    |   |   |   | 26 |   |   |   | 85 |   |
| Deductible balancing adjustments                                                                                                                                                                                                          |   |         | 5      |   |   |   | - |   |   |   | - |   |
| Research and development allowance                                                                                                                                                                                                        |   |         | -      |   |   |   | (110 | ) |   |   | (604 | ) |
| Sub-total                                                                                                                                                                                                                                 |   |         | (1,099 | ) |   |   | (3,065 | ) |   |   | (5,274 | ) |
| Tax losses and timing differences not recognised                                                                                                                                                                                          |   |         | 1,106  |   |   |   | 3,070 |   |   |   | 5,284 |   |
| Tax expense                                                                                                                                                                                                                               |   |         | 7      |   |   |   | 5 |   |   |   | 10 |   |
|                                                                                                                                                                                                                                      |   |         |   |   |   |   |   |   |   |   |   |   |
| Tax expense from continuing operations                                                                                                                                                                                                    |   |         | -      |   |   |   | 1 |   |   |   | 1 |   |
| Tax expense from discontinuing operations                                                                                                                                                                                                 |   |         | 7      |   |   |   | 4 |   |   |   | 9 |   |
|                                                                                                                                                                                                                                      |   |         | 7      |   |   |   | 5 |   |   |   | 10 |   |
|                                                                                                                                                                                                                                      |   |         |   |   |   |   |   |   |   |   |   |   |
| Components of income tax expense/(benefit)                                                                                                                                                                                                |   |         |   |   |   |   |   |   |   |   |   |   |
| Current tax                                                                                                                                                                                                                               |   |         | (1,099 | ) |   |   | (3,065 | ) |   |   | (5,274 | ) |
| Deferred tax                                                                                                                                                                                                                              |   |         | 1,106  |   |   |   | 3,070 |   |   |   | 5,284 |   |
| Income tax expense                                                                                                                                                                                                                        |   |         | 7      |   |   |   | 5 |   |   |   | 10 |   |
| Deferred income tax                                                                                                                                                                                                                       |   |         |   |   |   |   |   |   |   |   |   |   |
| Deferred income tax at 30 June relates to the following:                                                                                                                                                                                  |   |         |   |   |   |   |   |   |   |   |   |   |
| Deferred tax assets/(liabilities)                                                                                                                                                                                                         |   |         |   |   |   |   |   |   |   |   |   |   |
|    Depreciation                                                                                                                                                                                                            |   |         | 106    |   |   |   | 124 |   |   |   | 301 |   |
|    Amortisation of intangibles                                                                                                                                                                                             |   |         | (214   | ) |   |   | - |   |   |   | - |   |
|    Start up costs capitalised                                                                                                                                                                                              |   |         | 1,491  |   |   |   | - |   |   |   | - |   |
|    Provisions and accruals                                                                                                                                                                                                 |   |         | (54    | ) |   |   | 702 |   |   |   | 166 |   |
|    Exchange losses/(gain)                                                                                                                                                                                                  |   |         | (201   | ) |   |   | (75 | ) |   |   | 113 |   |
|    Share based payments by USA subsidiaries                                                                                                                                                                                |   |         | 171    |   |   |   | 195 |   |   |   | 171 |   |
|    Other                                                                                                                                                                                                                   |   |         | -      |   |   |   | 40 |   |   |   | 51 |   |
|    Losses carried forward                                                                                                                                                                                                  |   |         |   |   |   |   |   |   |   |   |   |   |
|                                     - Australia       |   |         | 13,509 |   |   |   | 41,923 |   |   |   | 40,474 |   |
|                                     - US              |   |         | 16,392 |   |   |   | 14,950 |   |   |   | 16,921 |   |
|                                     - Other countries |   |         | -      |   |   |   | 1,259 |   |   |   | 1,899 |   |
| Total deferred tax assets not recognised                                                                                                                                                                                                  |   |         | 31,200 |   |   |   | 59,118 |   |   |   | 60,096 |   |
|                                                                                                                                                                                                                                      |   |         |   |   |   |   |   |   |   |   |   |   |
| Deferred tax liability                                                                                                                                                                                                                    |   |         |   |   |   |   |   |   |   |   |   |   |
|    Other                                                                                                                                                                                                                   |   |         | -      |   |   |   | - |   |   |   | - |   |
|                                                                                                                                                                                                                                      |   |         |   |   |   |   |   |   |   |   |   |   |
| Total deferred tax liability not recognised                                                                                                                                                                                               |   |         | -      |   |   |   | - |   |   |   | - |   |
|                                                                                                                                                                                                                                      |   |         |   |   |   |   |   |   |   |   |   |   |
| Net deferred tax asset not recognised                                                                                                                                                                                                     |   |         | 31,200 |   |   |   | 59,118 |   |   |   | 60,096 |   |
| At the Group's statutory income tax rate of 30% (2011 and 2010: 30%)                                                                                                                                                                      |   |         | 9,360  |   |   |   | 17,735 |   |   |   | 18,029 |   |
|  Capital Losses carried forward                                                                                                                                                                                                      |   |         | 3,230  |   |   |   | - |   |   |   | - |   |
| At the Group's statutory income tax rate of 30% (2011 and 2010: 30%)                                                                                                                                                                      |   |         | 969    |   |   |   | - |   |   |   | - |   |

|                                                                                                |   | Consolidated  |    |
|-----------------------------------------------------------------------------------------------------|--------|---------------|---------|
|                                                                                                |   | 2012          |    |   | 2011 |   |   | 2010 |   |
|                                                                                                |   | A$'000        |    |   | A$'000 |   |   | A$'000 |   |
|                                                                                                |   |          |    |   |   |   |   |   |   |
| Net loss attributable to owners of the parent from continuing operations                            |   |          | (6,083  | ) |   |   | (7,965 | ) |   |   | (12,913 | ) |
| Net profit attributable to owners of the parent from discontinuing operations                       |   |          | 7,392   |   |   |   | 1,467 |   |   |   | 568 |   |
| Net profit/(loss) attributable to owners of the parent                                              |   |          | 1,309   |   |   |   | (6,498 | ) |   |   | (12,345 | ) |
|                                                                                                |   |          |    |   |   |   |   |   |   |   |   |   |
|                                                                                                |   | 2012Thousands |    |   | 2011 Thousands |   |   | 2010 Thousands |   |
|                                                                                                |   |          |    |   |   |   |   |   |   |   |   |   |
| Weighted average number of ordinary shares used in calculating basic and diluted earnings per share |   |          | 102,431 |   |   |   | 102,126 |   |   |   | 102,126 |   |

|                         |   | Consolidated |   |
|------------------------------|--------|--------------|--------|
|                         |   | 2012         |   |   | 2011 |   |
|                         |   | A$'000       |   |   | A$'000 |   |
|                         |   |         |   |   |   |   |
| Cash at bank and in hand     |   |         | 6,348  |   |   |   | 5,266 |   |
| Short-term deposits          |   |         | 1,750  |   |   |   | 500 |   |
|                         |   |         | 8,098  |   |   |   | 5,766 |   |
|                         |   |         |   |   |   |   |   |   |
| Secured cash (Refer Note 15) |   |         | 250    |   |   |   | 250 |   |
|                         |   |         | 8,348  |   |   |   | 6,016 |   |
|                         |   |         |   |   |   |   |   |   |

|                         |   | Consolidated |   |
|------------------------------|--------|--------------|--------|
|                         |   | 2012         |   |   | 2011 |   |
|                         |   | A$'000       |   |   | A$'000 |   |
|                         |   |         |   |   |   |   |
| Current                      |   |         |   |   |   |   |
|                         |   |         |   |   |   |   |
| Trade receivables            |   |         | 322    |   |   |   | 2,424 |   |
| Allowance for doubtful debts |   |         | (315   | ) |   |   | (9 | ) |
|                         |   |         | 7      |   |   |   | 2,415 |   |
|                         |   |         |   |   |   |   |   |   |
| Deposits held                |   |         | 326    |   |   |   | 349 |   |
| Royalty receivable           |   |         | -      |   |   |   | 2,565 |   |
| Other debtors                |   |         | 71     |   |   |   | 140 |   |
|                         |   |         | 404    |   |   |   | 5,469 |   |
|                         |   |         |   |   |   |   |   |   |

|                             |   | Consolidated |   |
|----------------------------------|--------|--------------|--------|
|                             |   | 2012         |   |   | 2011 |   |
|                             |   | A$'000       |   |   | A$'000 |   |
|                             |   |         |   |   |   |   |
| Balance at 1 July                |   |         | (9     | ) |   |   | (36 | ) |
|                             |   |         |   |   |   |   |   |   |
| Change in allowance for the year |   |         | (306   | ) |   |   | 27 |   |
|                             |   |         |   |   |   |   |   |   |
| Balance at 30 June               |   |         | (315   | ) |   |   | (9 | ) |

|                 |   | Consolidated |   |
|----------------------|--------|--------------|--------|
|                 |   | 2012         |   |   | 2011 |   |
|                 |   | A$'000       |   |   | A$'000 |   |
|                 |   |         |   |   |   |   |
| 1 - 30 days overdue  |   |         | 6      |   |   |   | 352 |   |
| 31 - 60 days overdue |   |         | -      |   |   |   | 13 |   |
| 61 - 90 days overdue |   |         | -      |   |   |   | 62 |   |
| 91 + days overdue    |   |         | -      |   |   |   | - |   |
|                 |   |         |   |   |   |   |   |   |
|                 |   |         | 6      |   |   |   | 427 |   |

|                 |   | Consolidated |   |
|----------------------|--------|--------------|--------|
|                 |   | 2012         |   |   | 2011 |   |
|                 |   | A$'000       |   |   | A$'000 |   |
|                 |   |         |   |   |   |   |
| 1 - 30 days overdue  |   |         | -      |   |   |   | - |   |
| 31 - 60 days overdue |   |         | -      |   |   |   | - |   |
| 61 - 90 days overdue |   |         | -      |   |   |   | - |   |
| 91 + days overdue    |   |         | -      |   |   |   | - |   |
|                 |   |         |   |   |   |   |   |   |
|                 |   |         | -      |   |   |   | - |   |

|                       |   | Consolidated |   |
|----------------------------|--------|--------------|--------|
|                       |   | 2012         |   |   | 2011 |   |
|                       |   | A$'000       |   |   | A$'000 |   |
|                       |   |         |   |   |   |   |
| Current                    |   |         |   |   |   |   |
|                       |   |         |   |   |   |   |
| Work in progress (at cost) |   |         | -      |   |   |   | 66 |   |
| Finished goods (at cost)   |   |         | -      |   |   |   | 588 |   |
|                       |   |         | -      |   |   |   | 654 |   |

|        |   | Consolidated |   |
|-------------|--------|--------------|--------|
|        |   | 2012         |   |   | 2011 |   |
|        |   | A$'000       |   |   | A$'000 |   |
|        |   |         |   |   |   |   |
| Prepayments |   |         | 206    |   |   |   | 521 |   |

|                                          |   | Consolidated |   |
|-----------------------------------------------|--------|--------------|--------|
|                                          |   | 2012         |   |   | 2011 |   |
|                                          |   | A$'000       |   |   | A$'000 |   |
|                                          |   |         |   |   |   |   |
| Plant and equipment - at cost                 |   |         | 84     |   |   |   | 615 |   |
| Accumulated depreciation                      |   |         | (62    | ) |   |   | (561 | ) |
|                                          |   |         | 22     |   |   |   | 54 |   |
|                                          |   |         |   |   |   |   |   |   |
|                                          |   |         |   |   |   |   |   |   |
| Leasehold improvements - at cost              |   |         | 20     |   |   |   | 118 |   |
| Accumulated depreciation                      |   |         | (15    | ) |   |   | (105 | ) |
|                                          |   |         | 5      |   |   |   | 13 |   |
|                                          |   |         |   |   |   |   |   |   |
| Total property, plant and equipment - at cost |   |         | 104    |   |   |   | 733 |   |
| Accumulated amortisation and depreciation     |   |         | (77    | ) |   |   | (666 | ) |
|                                          |   |         |   |   |   |   |   |   |
| Total property, plant and equipment           |   |         | 27     |   |   |   | 67 |   |

|                                           |   | Consolidated |   |
|------------------------------------------------|--------|--------------|--------|
|                                           |   | 2012         |   |   | 2011 |   |
|                                           |   | A$'000       |   |   | A$'000 |   |
| Plant and equipment                            |   |         |   |   |   |   |
| Carrying amount at beginning of financial year |   |         | 54     |   |   |   | 158 |   |
| Additions                                      |   |         | 1      |   |   |   | 35 |   |
| Disposals                                      |   |         | (16    | ) |   |   | (75 | ) |
| Depreciation expense                           |   |         | (17    | ) |   |   | (64 | ) |
| Carrying amount at end of financial year       |   |         | 22     |   |   |   | 54 |   |
|                                           |   |         |   |   |   |   |   |   |
| Leasehold improvements                         |   |         |   |   |   |   |   |   |
| Carrying amount at beginning of financial year |   |         | 13     |   |   |   | 14 |   |
| Additions                                      |   |         | -      |   |   |   | 20 |   |
| Disposals                                      |   |         | -      |   |   |   | (2 | ) |
| Depreciation expense                           |   |         | (8     | ) |   |   | (19 | ) |
| Carrying amount at end of financial year       |   |         | 5      |   |   |   | 13 |   |

|                    |   | Consolidated |   |
|-------------------------|--------|--------------|--------|
|                    |   | 2012         |   |   | 2011 |   |
|                    |   | A$'000       |   |   | A$'000 |   |
|                    |   |         |   |   |   |   |
| Current                 |   |         |   |   |   |   |
|                    |   |         |   |   |   |   |
| Trade payables          |   |         | 831    |   |   |   | 1,936 |   |
| Accrued payables        |   |         | 1,763  |   |   |   | 2,311 |   |
| Deferred royalty income |   |         | 1,081  |   |   |   | 2,139 |   |
|                    |   |         | 3,675  |   |   |   | 6,386 |   |

|                       |   | Consolidated |   |
|----------------------------|--------|--------------|--------|
|                       |   | 2012         |   |   | 2011 |   |
|                       |   | A$'000       |   |   | A$'000 |   |
| Current                    |   |         | 190    |   |   |   | 770 |   |
| Non-current                |   |         | 7      |   |   |   | 104 |   |
|                       |   |         | 197    |   |   |   | 874 |   |
|                       |   |         |   |   |   |   |   |   |
|                       |   | Consolidated |   |
|                       |   |         | 2012   |   |   |   | 2011 |   |
|                       |   | A$'000       |   |   | A$'000 |   |
| Employee benefit provision |   |         |   |   |   |   |   |   |
| Current                    |   |         | 190    |   |   |   | 264 |   |
| Non-current                |   |         | 7      |   |   |   | 55 |   |
|                       |   |         | 197    |   |   |   | 319 |   |
|                       |   |         |   |   |   |   |   |   |
|                       |   | Consolidated |   |
|                       |   |         | 2012   |   |   |   | 2011 |   |
|                       |   | A$'000       |   |   | A$'000 |   |
| Onerous lease provision    |   |         |   |   |   |   |   |   |
| Current                    |   |         | -      |   |   |   | 506 |   |
| Non-current                |   |         | -      |   |   |   | - |   |
|                       |   |         | -      |   |   |   | 506 |   |

|                                     |   | Consolidated |   |
|------------------------------------------|--------|--------------|--------|
|                                     |   | 2012         |   |   | 2011 |   |
|                                     |   | A$'000       |   |   | A$'000 |   |
| Make good provision                      |   |         |   |   |   |   |
| Opening balance at beginning of the year |   |         | 49     |   |   |   | 49 |   |
| Write back of provision in the period    |   |         | (49    | ) |   |   | - |   |
| Closing balance at the end of the year   |   |         | -      |   |   |   | 49 |   |
|                                     |   |         |   |   |   |   |   |   |
| Current                                  |   |         | -      |   |   |   | - |   |
| Non-current                              |   |         | -      |   |   |   | 49 |   |
|                                     |   |         | -      |   |   |   | 49 |   |

| (a) Issued and paid up capital                                           |   |         |    |   |   |   |
|--------------------------------------------------------------------------|--------|--------------|---------|--------|--------|--------|
|                                                                     |   | Consolidated |    |
|                                                                     |   | 2012         |    |   | 2011   |   |
|                                                                     |   | A$'000       |    |   | A$'000 |   |
| Fully Paid Ordinary Shares                                               |   |         |    |   |   |   |
| Novogen Limited                                                          |   |         |    |   |   |   |
| 103,805,676 (2011: 102,125,894) ordinary shares                          |   |         | 133,264 |   |   |   | 133,100 |   |
|                                                                     |   |         | 133,264 |   |   |   | 133,100 |   |
|                                                                     |   |         |    |   |   |   |   |   |
| Other                                                                    |   |         |    |   |   |   |   |   |
| Gain arising on issue of shares by subsidiaries to outside shareholders: |   |         |    |   |   |
| Marshall Edwards, Inc.                                                   |   |         | 56,483  |   |   |   | 53,731 |   |
| Glycotex, Inc.                                                           |   |         | 9,279   |   |   |   | 7,464 |   |
|                                                                     |   |         | 65,762  |   |   |   | 61,195 |   |
|                                                                     |   |         |    |   |   |   |   |   |
| Contributed Equity                                                       |   |         | 199,026 |   |   |   | 194,295 |   |

|                                  |   | Number of shares |        |   | Issue price |   |   |   |   |
|---------------------------------------|--------|------------------|-------------|--------|-------------|--------|--------|--------|--------|
|                                  |   |             |        |   |        | A$     |   |   | A$'000 |   |
| On issue 1 July, 2010                 |   |             | 102,125,894 |   |        |   |   |   |   |   | 133,100 |   |
|                                  |   |             |        |   |        |   |   |   |   |   |   |   |
| On issue 30 June, 2011                |   |             | 102,125,894 |   |        |   |   |   |   |   | 133,100 |   |
|                                  |   |             |        |   |        |   |   |   |   |   |   |   |
| On issue 1 July, 2011                 |   |             | 102,125,894 |   |        |   |   |   |   |   | 133,100 |   |
|                                  |   |             |        |   |        |   |   |   |   |   |   |   |
| New Share Issue                       |   |             | 250,000     |   |        |   | 0.09   |   |   |   | 23 |   |
| New Share Issue                       |   |             | 1,407,282   |   |        |   | 0.10   |   |   |   | 139 |   |
| New Share Issue                       |   |             | 22,500      |   |        |   | 0.10   |   |   |   | 2 |   |
| Total shares issued during the period |   |             | 1,679,782   |   |        |   |   |   |   |   | 164 |   |
|                                  |   |             |        |   |        |   |   |   |   |   |   |   |
| On issue 30 June, 2012                |   |             | 103,805,676 |   |        |   |   |   |   |   | 133,264 |   |

|                                                                                              |   | Consolidated |   |
|---------------------------------------------------------------------------------------------------|--------|--------------|--------|
|                                                                                              |   | 2012         |   |   | 2011 |   |
|                                                                                              |   | A$'000       |   |   | A$'000 |   |
|                                                                                              |   |         |   |   |   |   |
| Balance at the beginning of the year                                                              |   |         | (3,422 | ) |   |   | (3,778 | ) |
| Share of opening reserve transferred to minority interest due to issuance of shares by subsidiary |   |         | (198   | ) |   |   | 639 |   |
| Exchange differences on translation of foreign operations                                         |   |         | (230   | ) |   |   | (283 | ) |
| Balance at the end of the year                                                                    |   |         | (3,850 | ) |   |   | (3,422 | ) |

|                                                                            |   | Consolidated |     |
|---------------------------------------------------------------------------------|--------|--------------|----------|
|                                                                            |   | 2012         |     |   | 2011 |   |
|                                                                            |   | A$'000       |     |   | A$'000 |   |
|                                                                            |   |         |     |   |   |   |
| Balance at the beginning of the year                                            |   |         | (186,644 | ) |   |   | (191,452 | ) |
|                                                                            |   |         |     |   |   |   |   |   |
| Adjustment to opening retained earnings attributed to minority interest holders |   |         | (7,096   | ) |   |   | 11,190 |   |
| Equity attributable to share based payments                                     |   |         | 730      |   |   |   | 116 |   |
| Current year (loss)/profit                                                      |   |         | 1,309    |   |   |   | (6,498 | ) |
|                                                                            |   |         |     |   |   |   |   |   |
| Balance at the end of the year                                                  |   |         | (191,701 | ) |   |   | (186,644 | ) |

|                                 |   | Consolidated |    |
|--------------------------------------|--------|--------------|---------|
|                                 |   | 2012         |    |   | 2011 |   |
|                                 |   | A$'000       |    |   | A$'000 |   |
|                                 |   |         |    |   |   |   |
| Ordinary shares                      |   |         | 41,009  |   |   |   | 43,971 |   |
| Foreign currency translation reserve |   |         | (2,399  | ) |   |   | (2,550 | ) |
| Accumulated losses                   |   |         | (36,972 | ) |   |   | (41,230 | ) |
|                                 |   |         | 1,638   |   |   |   | 191 |   |

|                                     |   | 2012   |      |   | 2011   |   |
|------------------------------------------|--------|--------|-----------|--------|--------|--------|
|                                     |   | No.    |      |   | WAEP   |   |   | No. |   |   | WAEP |   |
| Outstanding at the beginning of the year |   |   | 2,528,560 |   |   | $      | 0.47 |   |   |   | 2,370,340 |   |   | $ | 1.11 |   |
|   Granted                      |   |   | -         |   |   |   | N/A |   |   |   | 1,750,000 |   |   | $ | 0.30 |   |
|   Forfeited                    |   |   | (980,800  | )      |   | $      | 0.62 |   |   |   | (1,533,956 | ) |   | $ | 1.14 |   |
|   Exercised                    |   |   | -         |   |   |   | N/A |   |   |   | - |   |   |   | N/A |   |
|   Expired                      |   |   | (22,624   | )      |   | $      | 2.41 |   |   |   | (57,824 | ) |   | $ | 3.64 |   |
| Outstanding at the end of the year       |   |   | 1,525,136 |   |   | $      | 0.34 |   |   |   | 2,528,560 |   |   | $ | 0.47 |   |
|  Exercisable at the end of the year |   |   | 811,183   |   |   | $      | 0.36 |   |   |   | 474,924 |   |   | $ | 1.00 |   |

| Exercise Price | Expiry Date | No. outstanding 30 June, 2012                                                                                             | No. outstanding 30 June, 2011                                                  |
|----------------|-------------|---------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------|
| $2.41          | 30/03/12    |                     - |             79,920 |
| $1.06          | 1/03/13     |             44,324                                            |            182,736      |
| $0.53          | 6/03/14     |            105,812                                                 |            515,904      |
| $0.30          | 26/01/15    |         1,375,000                                                                 |         1,750,000                      |
|           |        |                                                                                                                      |                                                                           |
|           |        |         1,525,136                                                                 |         2,528,560                      |

|                                     |   | 2012   |    |   | 2011   |   |
|------------------------------------------|--------|--------|---------|--------|--------|--------|
|                                     |   | No.    |    |   | WAEP   |   |   | No. |   |   | WAEP |   |
| Outstanding at the beginning of the year |   |   | 112,196 |   |   | $      | 1.22 |   |   |   | 132,820 |   |   | $ | 1.59 |   |
|   Granted                      |   |   | -       |   |   |   | N/A |   |   |   | - |   |   |   | N/A |   |
|   Forfeited                    |   |   | -       |   |   |   | N/A |   |   |   | - |   |   |   | N/A |   |
|   Expired                      |   |   | (31,092 | )      |   | $      | 2.41 |   |   |   | (20,624 | ) |   | $ | 3.64 |   |
| Outstanding at the end of the year       |   |   | 81,104  |   |   | $      | 0.76 |   |   |   | 112,196 |   |   | $ | 1.22 |   |
|  Exercisable at the end of the year |   |   | 69,693  |   |   | $      | 0.80 |   |   |   | 80,509 |   |   | $ | 1.43 |   |

| Exercise Price | Expiry Date | No. outstanding 30 June, 2012                                                                                             | No. outstanding 30 June, 2011                                                  |
|----------------|-------------|---------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------|
| $2.41          | 30/03/12    |                     - |             31,092 |
| $1.06          | 1/03/13     |             35,460                                            |             35,460 |
| $0.53          | 6/03/14     |             45,644                                            |             45,644 |
|           |        |                                                                                                                      |                                                                           |
|           |        |             81,104                                            | 112,196                                                                        |

|                      |   | 6 May,        |
|---------------------------|--------|---------------|
|                      |   | 2011          |
| Exercise price            |   |  A$0.297 |
| Share price at grant date |   |  A$0.24  |
| Dividend yield            |   | 0%            |
| Expected volatility       |   | 125%          |
| Historical volatility     |   | 125%          |
| Risk-free interest rate   |   | 5.20%         |
| Expected life of option   |   | 3.7 years     |
| Option fair value         |   |  A$0.19  |

|                                     |   | 2012   |    |   | 2011   |   |
|------------------------------------------|--------|--------|---------|--------|--------|--------|
|                                     |   | No.    |    |   | WAEP   |   |   | No. |   |   | WAEP |   |
| Outstanding at the beginning of the year |   |   | 600,813 |   |   | $      | US2.23 |   |   |   | 303,461 |   |   | $ | US3.31 |   |
|   Granted                      |   |   | 141,510 |   |   | $      | US1.89 |   |   |   | 297,352 |   |   | $ | US1.12 |   |
|   Forfeited                    |   |   | -       |   |   |   | N/A |   |   |   | - |   |   |   | N/A |   |
|   Expired                      |   |   | -       |   |   |   | N/A |   |   |   | - |   |   |   | N/A |   |
| Outstanding at the end of the year       |   |   | 742,323 |   |   | $      | US2.16 |   |   |   | 600,813 |   |   | $ | US2.23 |   |
|  Exercisable at the end of the year |   |   | 308,402 |   |   | $      | US2.47 |   |   |   | 92,256 |   |   | $ | US4.14 |   |

| Exercise Price | Expiry Date | No. outstanding 30 June, 2012                                                             | No. outstanding 30 June, 2011                                                                                             |
|----------------|-------------|-------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------|
| US$21.70       | 30/07/13    |               4,608 |               4,608                                 |
| US$6.30        | 28/01/14    |               5,000 |               5,000                                 |
| US$5.05        | 23/04/15    |            110,195                 |            110,195                                                 |
| US$1.86        | 7/06/15     |            110,195                 |            110,195                                                 |
| US$1.52        | 18/06/15    |             73,463            |             73,463                                            |
| US$0.77        | 1/09/15     |             82,232            |             82,232                                            |
| US$1.15        | 1/11/15     |             37,500            |             37,500                                            |
| US$1.28        | 1/06/16     |            177,620                 |            177,620                                                 |
| US$1.90        | 1/08/16     |            138,510                 |                     - |
| US$1.53        | 1/09/16     |               2,000 |                     - |
| US$0.61        | 1/06/17     |               1,000 |                                                                                                                      |
|           |        |                                                                                      |                                                                                                                      |
|           |        |            742,323                 |            600,813                                                 |

|                            |   | 1 June, 2012 |    |   | 20 October, 2011 |   |    | 1 September, 2011 |   |   | 1 August, 2011 |   |   | 1 June, 2011 |    |   | 1 November, 2010 |   |    | 1 September, 2010 |   |
|---------------------------------|--------|--------------|---------|--------|------------------|--------|---------|-------------------|--------|--------|----------------|--------|--------|-------------------|---------|--------|------------------|--------|---------|-------------------|--------|
| Exercise price                  |   |         | $US0.61 |   |             |   | $US1.34 |              |   |   | $US1.53        |   |   |              | $US1.90 |   |             |   | $US1.28 |              |   |   | $US1.15 |   |   |   | $US0.77 |   |
| Share price at grant date       |   |         | $US0.61 |   |             |   | $US1.34 |              |   |   | $US1.53        |   |   |              | $US1.90 |   |             |   | $US1.28 |              |   |   | $US1.15 |   |   |   | $US0.77 |   |
| Dividend yield                  |   |         | 0       | %      |             |   | 0       | %                 |   |   | 0              | %      |   |              | 0       | %      |             |   | 0       | %                 |   |   | 0 | % |   |   | 0 | % |
| Expected volatility             |   |         | 152     | %      |             |   | 148     | %                 |   |   | 147            | %      |   |              | 145     | %      |             |   | 144     | %                 |   |   | 137 | % |   |   | 136 | % |
| Historical volatility           |   |         | 152     | %      |             |   | 148     | %                 |   |   | 147            | %      |   |              | 145     | %      |             |   | 144     | %                 |   |   | 137 | % |   |   | 136 | % |
| Risk-free interest rate         |   |         | 0.62    | %      |             |   | 1.05    | %                 |   |   | 0.90           | %      |   |              | 1.32    | %      |             |   | 1.60    | %                 |   |   | 1.17 | % |   |   | 1.41 | % |
| Expected life of warrant/option |   | 5 years      |    |   | 5 years          |   |    | 5 years           |   |   | 5 years        |   |   | 5 years           |    |   | 5 years          |   |    | 5 years           |   |
| Warrant/option fair value       |   |         | $US0.54 |   |             |   | $US1.18 |              |   |   | $US1.34        |   |   |              | $US1.66 |   |             |   | $US0.67 |              |   |   | $US1.01 |   |   |   | $US1.11 |   |

|                              |   | DRUG DEVELOPMENT |   |   | ONCOLOGY DRUG PROGRAM         CONSUMER BUSINESS                   WOUND HEALING                              TOTAL |   |
|-----------------------------------|--------|------------------|--------|--------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                              |   | 2012             |   |   | 2011                                                                                                                                                                                                                                                                                                                                                                                                       |   |   | 2010 |   |   | 2012 |   |   | 2011 |   |   | 2010 |   |   | 2012 |   |   | 2011 |   |   | 2010 |   |   | 2012 |   |   | 2011 |   |   | 2010 |   |   | 2012 |   |   | 2011 |   |   | 2010 |   |
|                              |   | A$'000           |   |   | A$'000                                                                                                                                                                                                                                                                                                                                                                                                     |   |   | A$'000 |   |   | A$'000 |   |   | A$'000 |   |   | A$'000 |   |   | A$'000 |   |   | A$'000 |   |   | A$'000 |   |   | A$'000 |   |   | A$'000 |   |   | A$'000 |   |   | A$'000 |   |   | A$'000 |   |   | A$'000 |   |
| Net sales from external customers |   |             | -      |   |                                                                                                                                                                                                                                                                                                                                                                                                       |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 988 |   |   |   | 10,843 |   |   |   | 7,983 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 988 |   |   |   | 10,843 |   |   |   | 7,983 |   |
| Other revenue                     |   |             | 1,504  |   |                                                                                                                                                                                                                                                                                                                                                                                                       |   | 1,893 |   |   |   | 1,690 |   |   |   | 9 |   |   |   | 132 |   |   |   | 95 |   |   |   | 43 |   |   |   | 510 |   |   |   | 140 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 1,556 |   |   |   | 2,535 |   |   |   | 1,925 |   |
| Total revenue                     |   |             | 1,504  |   |                                                                                                                                                                                                                                                                                                                                                                                                       |   | 1,893 |   |   |   | 1,690 |   |   |   | 9 |   |   |   | 132 |   |   |   | 95 |   |   |   | 1,031 |   |   |   | 11,353 |   |   |   | 8,123 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,544 |   |   |   | 13,378 |   |   |   | 9,908 |   |
|                              |   |             |   |   |                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net (loss)/profit                 |   |             | (620   | )      |                                                                                                                                                                                                                                                                                                                                                                                                       |   | (5,068 | ) |   |   | (7,427 | ) |   |   | (7,272 | ) |   |   | (7,167 | ) |   |   | (7,245 | ) |   |   | 7,325 |   |   |   | 3,461 |   |   |   | 958 |   |   |   | (783 | ) |   |   | (705 | ) |   |   | (1,532 | ) |   |   | (1,350 | ) |   |   | (9,479 | ) |   |   | (15,246 | ) |
|                              |   |             |   |   |                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                              |   |             |   |   |                                                                                                                                                                                                                                                                                                                                                                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest revenue                  |   |             | 276    |   |                                                                                                                                                                                                                                                                                                                                                                                                       |   | 109 |   |   |   | 195 |   |   |   | 9 |   |   |   | 35 |   |   |   | 95 |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 285 |   |   |   | 144 |   |   |   | 290 |   |
| Interest expense                  |   |             | -      |   |                                                                                                                                                                                                                                                                                                                                                                                                       |   | (18 | ) |   |   | (16 | ) |   |   | - |   |   |   | - |   |   |   | (1 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2 |   |   |   | - |   |   |   | (18 | ) |   |   | (15 | ) |
| Depreciation and amortisation     |   |             | (9     | )      |                                                                                                                                                                                                                                                                                                                                                                                                       |   | (62 | ) |   |   | (188 | ) |   |   | (15 | ) |   |   | (13 | ) |   |   | - |   |   |   | (1 | ) |   |   | (7 | ) |   |   | (8 | ) |   |   | - |   |   |   | (1 | ) |   |   | (2 | ) |   |   | (25 | ) |   |   | (83 | ) |   |   | (198 | ) |
| Share based payments              |   |             | (78    | )      |                                                                                                                                                                                                                                                                                                                                                                                                       |   | (40 | ) |   |   | (225 | ) |   |   | (496 | ) |   |   | (487 | ) |   |   | (73 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (124 | ) |   |   | (430 | ) |   |   | (574 | ) |   |   | (651 | ) |   |   | (728 | ) |
| Income tax expense                |   |             | -      |   |                                                                                                                                                                                                                                                                                                                                                                                                       |   | - |   |   |   | - |   |   |   | (1 | ) |   |   | (1 | ) |   |   | (1 | ) |   |   | (7 | ) |   |   | (5 | ) |   |   | (9 | ) |   |   | - |   |   |   | - |   |   |   | - |   |   |   | (8 | ) |   |   | (6 | ) |   |   | (10 | ) |

|                                                                                                   | Consolidated                                                                                      |
|--------------------------------------------------------------------------------------------------------|---------------------------------------------------------------------------------------------------|
|                                                                                                   | 2012                                                                                              | 2011 |
|                                                                                                   | A$'000                                                                                            | A$'000 |
| Segment assets                                                                                         |                                                                                              |   |
|                                                                                                   |                                                                                              |   |
| Drug development and         consumer business (combined) |         25,056                                            |         22,158 |
| Oncology drug program                                                                                  |           6,255                                 |           4,801 |
| Wound healing                                                                                          |                 2 |              150 |
| Total segment assets                                                                                   |         31,313                                            |         27,109 |
| Inter-segment eliminations                                                                             |        (22,328)                                                |        (14,382) |
|  Total assets per the statement of financial position                                             |           8,985                                 |         12,727 |

| Segment liabilities                                                                                    | Consolidated                                                      |
|--------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------|
|                                                                                                   | 2012                                                              | 2011 |
|                                                                                                   | A$'000                                                            | A$'000 |
| Drug development and         consumer business (combined) |           1,463 |           5,533 |
| Oncology drug program                                                                                  |           1,740 |           3,127 |
| Wound healing                                                                                          |           3,548 |           2,720 |
| Total segment liabilities                                                                              |           6,751 |         11,380 |
| Inter-segment eliminations                                                                             |          (2,879)     |          (3,073) |
|  Total liabilites per the statement of financial position                                         |           3,872 |           8,307 |

| Segment revenue | Consolidated                                                                                      |
|-----------------|---------------------------------------------------------------------------------------------------|
|            | 2012                                                                                              | 2011 | 2010 |
|            | A$'000                                                                                            | A$'000 | A$'000 |
| Australia       |              711                 |           3,188 |           3,529 |
| North America   |              171                 |           1,778 |           1,788 |
| South America   |                 - |           2,905 |                 - |
| Europe          |               87            |           2,367 |           2,240 |
| Asia            |               12            |              419 |              245 |
| other           |                 7 |              186 |              181 |
|            |              988                 |         10,843 |           7,983 |

| Non-current assets | Consolidated                                                                                      |
|--------------------|---------------------------------------------------------------------------------------------------|
|               | 2012                                                                                              | 2011 |
|               | A$'000                                                                                            | A$'000 |
| Australia          |                 1 |               20 |
| North America      |               26            |               47 |
| Europe             |                 - |                 - |
|               |               27            |               67 |

|                     |   | Consolidated                                              |
|--------------------------|--------|-----------------------------------------------------------|
|                     |   | 2012                                                      | 2011 |
|                     |   | A$'000                                                    | A$'000 |
| Financial assets         |   |                                                      |   |
|                     |   |                                                      |   |
| Cash at bank and in hand |   |        6,348           |        5,266 |
| Short term deposits      |   |        1,750           |           500 |
|                     |   |        8,098           |        5,766 |
|                     |   |                                                      |   |
| Secured cash             |   |          250 |           250 |
|                     |   |                                                      |   |
| Net exposure             |   |        8,348           |        6,016 |
|                     |   |                                                      |   |

| Judgements of reasonably possible movements: | Post tax profit |
|----------------------------------------------|-----------------|
|                                         |            | Higher/(Lower) |
|                                         |            | 2012 | 2011 |
|                                         |            | A$'000 | A$'000 |
| Consolidated                                 |            |   |   |
| +1% (100 basis points)                       |            |            83 |             60 |
| -1% (100 basis points)                       |            |           (83) |            (60) |

|                                    |   |   |   |   | Floating Interest Rate |   |   | Fixed 1 year or less |   |   | Fixed Over 1 to 5 years |   |   | Non-interest bearing |   |   | Total  |   |   | Weighted average rate of interest |   |
|-----------------------------------------|--------|--------|--------|--------|------------------------|--------|--------|---------------------------|--------|--------|------------------------------|--------|--------|---------------------------|--------|--------|--------|--------|--------|-----------------------------------|--------|
|                                    |   | Note   |   |   | 2012                   |   |   | 2011                      |   |   | 2012                         |   |   | 2011                      |   |   | 2012   |   |   | 2011                              |   |   | 2012 |   |   | 2011 |   |   | 2012 |   |   | 2011 |   |   | 2012 |   |   | 2011 |   |
|                                    |   |   |   |   | A$'000                 |   |   | A$'000                    |   |   | A$'000                       |   |   | A$'000                    |   |   | A$'000 |   |   | A$'000                            |   |   | A$'000 |   |   | A$'000 |   |   | A$'000 |   |   | A$'000 |   |   |   |   |   |   |   |
| Financial assets                        |   |   |   |   |                   |   |   |                      |   |   |                         |   |   |                      |   |   |   |   |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Cash                                    |   |   | 5      |   |                   |   | 5,083  |                      |   |   | 4,232                        |   |   |                      | -      |   |   |   | -      |                              |   |   | - |   |   |   | - |   |   |   | 1,265 |   |   |   | 1,034 |   |   |   | 6,348 |   |   |   | 5,266 |   |   |   | 0.25 | % |   |   | 0.78 | % |
|  Deposits                          |   |   | 5      |   |                   |   | -      |                      |   |   | -                            |   |   |                      | 2,000  |   |   |   | 750    |                              |   |   | - |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 2,000 |   |   |   | 750 |   |   |   | 4.25 | % |   |   | 5.15 | % |
| Trade and other receivables             |   |   | 6      |   |                   |   | -      |                      |   |   | -                            |   |   |                      | -      |   |   |   | -      |                              |   |   | - |   |   |   | - |   |   |   | 404 |   |   |   | 5,469 |   |   |   | 404 |   |   |   | 5,469 |   |   |   | N/A |   |   |   | N/A |   |
| Loans and receivables                   |   |   |   |   |                   |   | -      |                      |   |   | -                            |   |   |                      | 2,000  |   |   |   | 750    |                              |   |   | - |   |   |   | - |   |   |   | 404 |   |   |   | 5,469 |   |   |   | 2,404 |   |   |   | 6,219 |   |   |   |   |   |   |   |   |   |
|                                    |   |   |   |   |                   |   |   |                      |   |   |                         |   |   |                      |   |   |   |   |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                    |   |   |   |   |                   |   | 5,083  |                      |   |   | 4,232                        |   |   |                      | 2,000  |   |   |   | 750    |                              |   |   | - |   |   |   | - |   |   |   | 1,669 |   |   |   | 6,503 |   |   |   | 8,752 |   |   |   | 11,485 |   |   |   |   |   |   |   |   |   |
|                                    |   |   |   |   |                   |   |   |                      |   |   |                         |   |   |                      |   |   |   |   |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Financial liabilities                   |   |   |   |   |                   |   |   |                      |   |   |                         |   |   |                      |   |   |   |   |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Trade and other payables                |   |   | 10     |   |                   |   | -      |                      |   |   | -                            |   |   |                      | -      |   |   |   | -      |                              |   |   | - |   |   |   | - |   |   |   | 3,675 |   |   |   | 6,386 |   |   |   | 3,675 |   |   |   | 6,386 |   |   |   | N/A |   |   |   | N/A |   |
| Financial liabilities at amortised cost |   |   |   | -      |                   |   |   | -                         |   |   |                         | -      |   |                      |   | -      |   |   |   | -                                 |   |   |   | - |   |   |   | 3,675 |   |   |   | 6,386 |   |   |   | 3,675 |   |   |   | 6,386 |   |   |   |   |   |   |   |   |   |
|                                    |   |   |   |   |                   |   |   |                      |   |   |                         |   |   |                      |   |   |   |   |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net financial assets/(liabilities)      |   |   |   | 5,083  |                   |   |   | 4,232                     |   |   |                         | 2,000  |   |                      |   | 750    |   |   |   | -                                 |   |   |   | - |   |   |   | (2,006 | ) |   |   | 117 |   |   |   | 5,077 |   |   |   | 5,099 |   |   |   |   |   |   |   |   |   |
|                                    |   |   |   |   |                   |   |   |                      |   |   |                         |   |   |                      |   |   |   |   |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

|                        | Consolidated                                                              |
|-----------------------------|---------------------------------------------------------------------------|
|                        | 2012                                                                      | 2011 |
|                        | A$'000                                                                    | A$'000 |
| USD denominated             |                                                                      |   |
|                        |                                                                      |   |
| Financial assets            |                                                                      |   |
| Cash and cash equivalents   |         122                       |         550 |
| Trade and other receivables |           -             |      2,571 |
|                        |         122                       |      3,121 |
| Financial liabilities       |                                                                      |   |
| Trade and other payables    |             2 |           48 |
| Net exposure                |         120                       |      3,073 |
|                        |                                                                      |   |
| GBP denominated             |                                                                      |   |
|                        |                                                                      |   |
| Financial assets            |                                                                      |   |
| Cash and cash equivalents   |           -             |           21 |
| Trade and other receivables |           -             |         324 |
|                        |           -             |         345 |
| Financial liabilities       |                                                                      |   |
| Trade and other payables    |           10            |         107 |
| Net exposure                |          (10)                |         238 |
|                        |                                                                      |   |
| CAD denominated             |                                                                      |   |
|                        |                                                                      |   |
| Financial assets            |                                                                      |   |
| Cash and cash equivalents   |           -             |           47 |
| Trade and other receivables |           -             |         225 |
|                        |           -             |         272 |
| Financial liabilities       |                                                                      |   |
| Trade and other payables    |           -             |         129 |
| Net exposure                |           -             |         143 |
|                        |                                                                      |   |
| EURO denominated            |                                                                      |   |
|                        |                                                                      |   |
| Financial assets            |                                                                      |   |
| Trade and other receivables |         309                       |         361 |
|                        |         309                       |         361 |
| Financial liabilities       |                                                                      |   |
| Trade and other payables    |           -             |           93 |
| Net exposure                |         309                       |         268 |
|                        |                                                                      |   |
| AUD denominated             |                                                                      |   |
|                        |                                                                      |   |
| Financial assets            |                                                                      |   |
| Cash and cash equivalents   |           -             |         271 |
| Trade and other receivables |           -             |             4 |
|                        |           -             |         275 |
| Financial liabilities       |                                                                      |   |
| Trade and other payables    |             1 |           52 |
| Net exposure                |            (1)     |         223 |

| Judgements of reasonably possible movements: | Post tax profit                                                           |
|----------------------------------------------|---------------------------------------------------------------------------|
|                                         | Higher/(Lower)                                                            |
|                                         | 2012                                                                      | 2011 |
|                                         | A$'000                                                                    | A$'000 |
| USD denominated                              |                                                                      |   |
|                                         |                                                                      |   |
| Consolidated                                 |                                                                      |   |
| AUD/USD +10%                                 |          (11)                |        (279) |
| AUD/USD -10%                                 |           13            |         341 |
|                                         |                                                                      |   |
| GBP denominated                              |                                                                      |   |
|                                         |                                                                      |   |
| Consolidated                                 |                                                                      |   |
| AUD/GBP +10%                                 |             1 |          (22) |
| AUD/GBP -10%                                 |            (1)     |           26 |
|                                         |                                                                      |   |
| CAD denominated                              |                                                                      |   |
|                                         |                                                                      |   |
| Consolidated                                 |                                                                      |   |
| AUD/CAD +10%                                 |           -             |          (13) |
| AUD/CAD -10%                                 |           -             |           16 |
|                                         |                                                                      |   |
| EURO denominated                             |                                                                      |   |
|                                         |                                                                      |   |
| Consolidated                                 |                                                                      |   |
| AUD/EURO +10%                                |          (28)                |          (24) |
| AUD/EURO -10%                                |           34            |           30 |
|                                         |                                                                      |   |
| AUD denominated                              |                                                                      |   |
|                                         |                                                                      |   |
| Consolidated                                 |                                                                      |   |
| AUD/USD +10%                                 |           -             |          (20) |
| AUD/USD -10%                                 |           -             |           25 |

|          | Consolidated                                                                                            |
|---------------|---------------------------------------------------------------------------------------------------------|
|          | 2012                                                                                                    | 2011 |
|          | A$'000                                                                                                  | A$'000 |
| Australia     |                393           |          4,925 |
| North America |                 11      |             341 |
| Europe        |                  - |             203 |
|          |                404           |          5,469 |

| Consolidated             |   |          |   |   |        |   |   |      |   |   |         |   |   |   |   |
|--------------------------|--------|---------------|--------|--------|-------------|--------|--------|-----------|--------|--------|--------------|--------|--------|--------|--------|
| Year ended 30 June, 2012 |   | < 6 months |   |   | 6-12 months |   |   | 1-5 Years |   |   | > 5 years |   |   | Total  |   |
|                     |   | A$'000        |   |   | A$'000      |   |   | A$'000    |   |   | A$'000       |   |   | A$'000 |   |
|                     |   |          |   |   |        |   |   |      |   |   |         |   |   |   |   |
| Financial Liabilities    |   |          |   |   |        |   |   |      |   |   |         |   |   |   |   |
| Trade and other payables |   |          | 2,594  |   |        |   | -      |      |   |   | -            |   |   |   | -      |   |   |   | 2,594 |   |
|                     |   |          |   |   |        |   |   |      |   |   |         |   |   |   |   |   |   |   |   |   |
| Total                    |   |          | 2,594  |   |        |   | -      |      |   |   | -            |   |   |   | -      |   |   |   | 2,594 |   |
|                     |   |          |   |   |        |   |   |      |   |   |         |   |   |   |   |   |   |   |   |   |
|                     |   |          |   |   |        |   |   |      |   |   |         |   |   |   |   |   |   |   |   |   |
| Year ended 30 June, 2011 |   | < 6 months |   |   | 6-12 months |   |   | 1-5 Years |   |   | > 5 years |   |   | Total  |   |
|                     |   | A$'000        |   |   | A$'000      |   |   | A$'000    |   |   | A$'000       |   |   | A$'000 |   |
|                     |   |          |   |   |        |   |   |      |   |   |         |   |   |   |   |   |   |   |   |   |
| Financial Liabilities    |   |          |   |   |        |   |   |      |   |   |         |   |   |   |   |   |   |   |   |   |
| Trade and other payables |   |          | 4,247  |   |        |   | -      |      |   |   | -            |   |   |   | -      |   |   |   | 4,247 |   |
|                     |   |          |   |   |        |   |   |      |   |   |         |   |   |   |   |   |   |   |   |   |
| Total                    |   |          | 4,247  |   |        |   | -      |      |   |   | -            |   |   |   | -      |   |   |   | 4,247 |   |

|                   |   | Consolidated                                                        |
|------------------------|--------|---------------------------------------------------------------------|
|                   |   | 2012                                                                | 2011 |
|                   |   | A$'000                                                              | A$'000 |
|                   |   |                                                                |   |
| Multi option facility  |   |         250                 |         250 |
|                   |   |         250                 |         250 |
|                   |   |                                                                |   |
| Used at balance date   |   |         250                 |         250 |
| Unused at balance date |   |            - |            - |
|                   |   |         250                 |         250 |

|                 |   | Consolidated                                                        |
|----------------------|--------|---------------------------------------------------------------------|
|                 |   | 2012                                                                | 2011 |
|                 |   | A$'000                                                              | A$'000 |
|                 |   |                                                                |   |
| Derivative liability |   |            - |      1,047 |

|                    | 18 May, 2011                                                                                              | 30 June, 2011                                                                                             |
|-------------------------|-----------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------|
| Series A warrants       |                                                                                                      |                                                                                                      |
| days to maturity        |               2,011                 |                1,968           |
| share price             | US$1.35                                                                                                   | US$1.02                                                                                                   |
| exercise price          | US$1.57                                                                                                   | US$1.57                                                                                                   |
| expected volatility *   | 121.50%                                                                                                   | 121.20%                                                                                                   |
| risk free interest rate | 1.87%                                                                                                     | 1.76%                                                                                                     |
|                    |                                                                                                      |                                                                                                      |
| Adjustment shares       |                                                                                                      |                                                                                                      |
| days to maturity        |                  366 |                  323 |
| share price             | US$1.35                                                                                                   | US$1.02                                                                                                   |
| exercise price          | n/a                                                                                                       | n/a                                                                                                       |
| expected volatility *   | 122.10%                                                                                                   | 112.90%                                                                                                   |
| risk free interest rate | 0.19%                                                                                                     | 0.19%                                                                                                     |

|                                          |   | Consolidated                                                              |
|-----------------------------------------------|--------|---------------------------------------------------------------------------|
|                                          |   | 2012                                                                      | 2011 |
|                                          |   | A$'000                                                                    | A$'000 |
|                                          |   |                                                                      |   |
| (a) Lease commitments *                       |   |                                                                      |   |
|                                          |   |                                                                      |   |
| Commitments in relation to operating leases   |   |                                                                      |   |
| contracted for at the reporting date but not  |   |                                                                      |   |
| recognised as liabilities payable:            |   |                                                                      |   |
| Not later than 1 year                         |   |         102                       |         234 |
| Later than 1 year but not later than 2 years  |   |             3 |         211 |
| Later than 2 years but not later than 3 years |   |           -             |         125 |
| Later than 3 years but not later than 4 years |   |           -             |         128 |
| Later than 4 years but not later than 5 years |   |           -             |           22 |
| Greater than 5 years                          |   |           -             |           - |
|                                          |   |         105                       |         720 |

| Name of Entity                                                | Country of Incorporation |   | % Equity interest * |   |   | Investment (A$'000) |   |
|---------------------------------------------------------------|--------------------------|--------|---------------------|--------|--------|---------------------|--------|
|                                                          |                     |   | 2012                |   |   | 2011                |   |   | 2012 |   |   | 2011 |   |
| Novogen Laboratories Pty Ltd ^                                | Australia                |   |                | 100    |   |                |   | 100 |   |   |   | 2,254 |   |   |   | 2,264 |   |
| Novogen Research Pty Ltd ^                                    | Australia                |   |                | 100    |   |                |   | 100 |   |   |   | 7,000 |   |   |   | 7,000 |   |
| Novogen Inc                                                   | US                       |   |                | 100    |   |                |   | 100 |   |   |   | - |   |   |   | - |   |
|   Glycotex, Inc.                                    | US                       |   |                | 99.7   |   |                |   | 80.7 |   |   |   | 999 |   |   |   | 857 |   |
| MEI Pharma, Inc. *                                            | US                       |   |                | 63.5   |   |                |   | 59.0 |   |   |   | 18,449 |   |   |   | 10,451 |   |
|                                                          |                     |   |                |   |   |                |   |   |   |   |   | 28,702 |   |   |   | 20,572 |   |
|                                                          |                     |   |                |   |   |                |   |   |   |   |   |   |   |   |   |   |   |
| less: impairment of investments (eliminated on consolidation) |                     |   |                |   |   |                |   |   |   |   | (21,332 | ) |   |   | (11,855 | ) |
|                                                          |                     |   |                |   |   |                |   |   |   |   |   |   |   |   |   |   |   |
|                                                          |                     |   |                |   |   |                |   |   |   |   |   | 7,370 |   |   |   | 8,717 |   |

| Consolidated Statement of Comprehensive Income      |   | CLOSED GROUP                                                              |
|-----------------------------------------------------|--------|---------------------------------------------------------------------------|
|                                                |   | 2012                                                                      | 2011 |
|                                                |   | A$'000                                                                    | A$'000 |
|                                                |   |                                                                      |   |
| Loss from continuing operations before income tax   |   |    (10,960)                                                |        (922) |
| Income tax expense                                  |   |           -             |            - |
| Loss after tax from continuing operations           |   |    (10,960)                                                |        (922) |
| Profit after tax from discontinuing operations      |   |      7,742                                       |       1,084 |
| Accumulated losses at the beginning of the period   |   |  (121,466)                                                           |  (121,668) |
| Net income recognised directly in equity            |   |           55            |           40 |
| Accumulated losses at the end of the financial year |   |  (124,629)                                                           |  (121,466) |
|                                                |   |                                                                      |   |
|                                                |   |                                                                      |   |
| Consolidated Statement of Financial Position        |   | CLOSED GROUP                                                              |
|                                                |   | 2012                                                                      | 2011 |
|                                                |   | A$'000                                                                    | A$'000 |
| CURRENT ASSETS                                      |   |                                                                      |   |
| Cash and cash equivalents                           |   |      2,261                                       |       2,314 |
| Trade and other receivables                         |   |         394                       |       5,356 |
| Inventories                                         |   |           -             |         295 |
| Other current assets                                |   |           73            |         271 |
| Total current assets                                |   |      2,728                                       |       8,236 |
|                                                |   |                                                                      |   |
| NON-CURRENT ASSETS                                  |   |                                                                      |   |
| Property, plant and equipment                       |   |             1 |           20 |
| Other financial assets                              |   |      7,370                                       |       8,717 |
| Total non-current assets                            |   |      7,371                                       |       8,737 |
|                                                |   |                                                                      |   |
| TOTAL ASSETS                                        |   |     10,099                                            |     16,973 |
|                                                |   |                                                                      |   |
| CURRENT LIABILITIES                                 |   |                                                                      |   |
| Trade and other payables                            |   |      1,355                                       |       4,525 |
| Provisions                                          |   |         102                       |         710 |
| Total current liabilities                           |   |      1,457                                       |       5,235 |
|                                                |   |                                                                      |   |
| NON-CURRENT LIABILITIES                             |   |                                                                      |   |
| Provisions                                          |   |             7 |         104 |
| Total non-current liabilities                       |   |             7 |         104 |
|                                                |   |                                                                      |   |
| TOTAL LIABILITIES                                   |   |      1,464                                       |       5,339 |
|                                                |   |                                                                      |   |
| NET ASSETS                                          |   |      8,635                                       |     11,634 |
|                                                |   |                                                                      |   |
| EQUITY                                              |   |                                                                      |   |
| Contributed equity                                  |   |   133,264                                                       |   133,100 |
| Accumulated losses                                  |   |  (124,629)                                                           |  (121,466) |
| TOTAL EQUITY                                        |   |      8,635                                       |     11,634 |

|                        |   | Novogen Limited                                                           |
|-----------------------------|--------|---------------------------------------------------------------------------|
|                        |   | 2012                                                                      | 2011 |
|                        |   | A$'000                                                                    | A$'000 |
| CURRENT ASSETS              |   |                                                                      |   |
| Cash and cash equivalents   |   |       2,237                                 |       1,933 |
| Trade and other receivables |   |             3 |             1 |
| Other current assets        |   |           73            |         261 |
| Total current assets        |   |       2,313                                 |       2,195 |
|                        |   |                                                                      |   |
| NON-CURRENT ASSETS          |   |                                                                      |   |
| Other financial assets      |   |       7,370                                 |       8,717 |
| Total non-current assets    |   |       7,370                                 |       8,717 |
|                        |   |                                                                      |   |
| TOTAL ASSETS                |   |       9,683                                 |     10,912 |
|                        |   |                                                                      |   |
| CURRENT LIABILITIES         |   |                                                                      |   |
| Trade and other payables    |   |           88            |         158 |
| Intercompany loan           |   |       3,739                                 |       3,739 |
| Total current liabilities   |   |       3,827                                 |       3,897 |
|                        |   |                                                                      |   |
| TOTAL LIABILITIES           |   |       3,827                                 |       3,897 |
| NET ASSETS                  |   |       5,856                                 |       7,015 |
|                        |   |                                                                      |   |
| EQUITY                      |   |                                                                      |   |
| Contributed equity          |   |   133,264                                                       |   133,100 |
| Accumulated losses          |   |  (127,408)                                                           |  (126,085) |
| TOTAL EQUITY                |   |       5,856                                 |       7,015 |

|                       |   | Novogen Limited                       |
|----------------------------|--------|---------------------------------------|
|                       |   | 2012                                  | 2011 |
|                       |   | A$'000                                | A$'000 |
|                       |   |                                  |   |
| Loss for the period        |   |      (1,378) |      (3,782) |
|                       |   |                                  |   |
| Total comprehensive income |   |      (1,378) |      (3,782) |

| (a) | As a condition of the Class Order, Novogen Limited and the subsidiaries subject to the Class Order, entered into a Deed of Cross Guarantee on 28 May, 1999. The effect of the deed is that Novogen Limited has guaranteed to pay any deficiency in the event of winding up of the controlled entities. The subsidiaries have also given a similar guarantee in the event that Novogen Limited is wound up. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b) | As a condition of establishing bank facilities Novogen Limited and its subsidiaries, Novogen Laboratories Pty Ltd and Novogen Research Pty Ltd have entered into a Guarantee and Indemnity with St George Bank in January 1997. The effect of the guarantee is to guarantee amounts owed to the bank by any of the above Novogen companies. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                                                                                                             |                | Consolidated                        |
|------------------------------------------------------------------------------------------------------------------|---------------------|-------------------------------------|
|                                                                                                             |                | 2012                                | 2011 |
|                                                                                                             |                | A$                                  | A$ |
|                                                                                                             |                |                                |   |
| Grant Thornton                                                                                                   |                |                                |   |
| (a) Audit and other assuarance services                                                                          |                |                                |   |
| (i) an audit or review of the financial statements of the entity and any other entity in the consolidated group; |   106,062 |   269,693                 |
| (ii) other assurance services:                                                                                   |                |                                |   |
|  - MEI S1/S3/S8/10K audit and review services                                                               |                |     12,877      |     83,689 |
| Total remuneration for audit and other assurance services                                                        |   118,939 |   353,382                 |
|                                                                                                             |                |                                |   |
| (b) other services in relation to the entity and any other entity in the consolidated entity.                    |
|  - Tax compliance services                                                                                  |                |     29,375      |     30,945 |
| Total other service remuneration                                                                                 |                |     29,375      |     30,945 |
|                                                                                                             |                |                                |   |
| Total remuneration for Grant Thornton                                                                            |                |   148,314                 |   384,327 |
|                                                                                                             |                |                                |   |
|                                                                                                             |                |                                |   |
| Non-Grant Thornton audit firms                                                                                   |                |                                |   |
| (a) Audit and other assuarance services                                                                          |                |                                |   |
| (i) an audit or review of the financial statements of the entity and any other entity in the consolidated group; |   113,733 |   102,745                 |
| (ii) other assurance services:                                                                                   |                |                                |   |
|  - MEI S1/S8 audit and review services                                                                      |                |      8,151 |           - |
| Total remuneration for audit and other assurance services                                                        |   121,884 |   102,745                 |
|                                                                                                             |                |                                |   |
| (b) other services in relation to the entity and any other entity in the consolidated entity.                    |
|  - Taxation and book keeping services                                                                       |                |     33,960      |     55,732 |
|                                                                                                             |                |     33,960      |     55,732 |
|                                                                                                             |                |                                |   |
| Total remuneration for non-Grant Thornton audit firms                                                            |                |   155,844                 |   158,477 |
|                                                                                                             |                |                                |   |
| Total auditor's remuneration                                                                                     |                |   304,158                 |   542,804 |

|                         | Consolidated                                      |
|------------------------------|---------------------------------------------------|
|                         | 2012                                              | 2011 |
|                         | A$                                                | A$ |
|                         |                                              |   |
| Short term employee benefits |   1,575,246                             |  1,699,353 |
| Post employment benefits     |       30,751        |     165,417 |
| Long term employee benefits  |        (3,334) |       36,220 |
| Termination payments         |      436,158             |     738,715 |
| Share-based payment          |      366,657             |     537,148 |
| Total Compensation           |   2,405,478                             |  3,176,853 |

|                    |   |                                                   |      |   |                    |   |   |              |   |   |             |   |   |                     |     |   |                   |   |      |            |   |
|-------------------------|--------|--------------------------------------------------------|-----------|--------|-------------------------|--------|--------|-------------------|--------|--------|------------------|--------|--------|--------------------------|----------|--------|------------------------|--------|-----------|-----------------|--------|
|                    |   | Balance at beginning of period                         |      |   | Granted as remuneration |   |   | Options exercised |   |   | Net change other |   |   | Balance at end of period |     |   | Vested and exercisable |   |      | Not exercisable |   |
|                    |   |        1 July, 2011 |      |   |                    |   |   |              |   |   | 30 June, 2012    |   |   | 30 June, 2012            |     |   | 30 June, 2012          |   |
|                    |   | Number                                                 |      |   | Number                  |   |   | Number            |   |   | Number           |   |   | Number                   |     |   | Number                 |   |      | Number          |   |
| Non-executive Directors |   |                                                   |      |   |                    |   |   |              |   |   |             |   |   |                     |     |   |
| WD Rueckert             |   |                                                   | 375,000   |   |                    |   | -      |              |   |   | -                |   |   |                     | -        |   |                   |   | 375,000   |            |   |   | 187,500 |   |   |   | 187,500 |   |
| P Scutt                 |   |                                                   | 375,000   |   |                    |   | -      |              |   |   | -                |   |   |                     | (375,000 | )      |                   |   | -         |            |   |   | - |   |   |   | - |   |
| PR White                |   |                                                   | 375,000   |   |                    |   | -      |              |   |   | -                |   |   |                     | -        |   |                   |   | 375,000   |            |   |   | 187,500 |   |   |   | 187,500 |   |
| R Youngman              |   |                                                   | 375,000   |   |                    |   | -      |              |   |   | -                |   |   |                     | -        |   |                   |   | 375,000   |            |   |   | 187,500 |   |   |   | 187,500 |   |
| JP O'Connor @           |   |                                                   | -         |   |                    |   | -      |              |   |   | -                |   |   |                     | 81,104   |   |                   |   | 81,104    |            |   |   | 69,693 |   |   |   | 11,411 |   |
|                    |   |                                                   |      |   |                    |   |   |              |   |   |             |   |   |                     |     |   |                   |   |      |            |   |   |   |   |   |   |   |   |
| Executives              |   |                                                   |      |   |                    |   |   |              |   |   |             |   |   |                     |     |   |                   |   |      |            |   |   |   |   |   |   |   |   |
| CD Kearney              |   |                                                   | 215,332   |   |                    |   | -      |              |   |   | -                |   |   |                     | (215,332 | )      |                   |   | -         |            |   |   | - |   |   |   | - |   |
| MG Hinze                |   |                                                   | 381,224   |   |                    |   | -      |              |   |   | -                |   |   |                     | (15,548  | )      |                   |   | 365,676   |            |   |   | 193,919 |   |   |   | 171,757 |   |
|                    |   |                                                   |      |   |                    |   |   |              |   |   |             |   |   |                     |     |   |                   |   |      |            |   |   |   |   |   |   |   |   |
| Total                   |   |                                                   | 2,096,556 |   |                    |   | -      |              |   |   | -                |   |   |                     | (524,776 | )      |                   |   | 1,571,780 |            |   |   | 826,112 |   |   |   | 745,668 |   |

|                    |   | Balance at beginning of period                         |      |   | Granted as remuneration |   |      | Options exercised |   |   | Net change other |   |   | Balance at end of period |     |   | Vested and exercisable |   |      | Not exercisable |   |
|-------------------------|--------|--------------------------------------------------------|-----------|--------|-------------------------|--------|-----------|-------------------|--------|--------|------------------|--------|--------|--------------------------|----------|--------|------------------------|--------|-----------|-----------------|--------|
|                    |   |        1 July, 2010 |      |   |                    |   |      |              |   |   | 30 June, 2011    |   |   | 30 June, 2011            |     |   | 30 June, 2011          |   |
|                    |   | Number                                                 |      |   | Number                  |   |      | Number            |   |   | Number           |   |   | Number                   |     |   | Number                 |   |      | Number          |   |
| Non-executive Directors |   |                                                   |      |   |                    |   |      |              |   |   |             |   |   |                     |     |   |                   |   |      |
| WD Rueckert             |   |                                                   | -         |   |                    |   | 375,000   |              |   |   | -                |   |   |                     | -        |   |                   |   | 375,000   |            |   |   | - |   |   |   | 375,000 |   |
| P Scutt                 |   |                                                   | -         |   |                    |   | 375,000   |              |   |   | -                |   |   |                     | -        |   |                   |   | 375,000   |            |   |   | - |   |   |   | 375,000 |   |
| PR White                |   |                                                   | -         |   |                    |   | 375,000   |              |   |   | -                |   |   |                     | -        |   |                   |   | 375,000   |            |   |   | - |   |   |   | 375,000 |   |
| R Youngman              |   |                                                   | -         |   |                    |   | 375,000   |              |   |   | -                |   |   |                     | -        |   |                   |   | 375,000   |            |   |   | - |   |   |   | 375,000 |   |
|                    |   |                                                   |      |   |                    |   |      |              |   |   |             |   |   |                     |     |   |                   |   |      |            |   |   |   |   |   |   |   |   |
| Executives              |   |                                                   |      |   |                    |   |      |              |   |   |             |   |   |                     |     |   |                   |   |      |            |   |   |   |   |   |   |   |   |
| CD Kearney              |   |                                                   | 233,084   |   |                    |   | -         |              |   |   | -                |   |   |                     | (17,752  | )      |                   |   | 215,332   |            |   |   | 139,440 |   |   |   | 75,892 |   |
| RL Erratt               |   |                                                   | 213,636   |   |                    |   | -         |              |   |   | -                |   |   |                     | (213,636 | )      |                   |   | -         |            |   |   | - |   |   |   | - |   |
| MG Hinze                |   |                                                   | 140,376   |   |                    |   | 250,000   |              |   |   | -                |   |   |                     | (9,152   | )      |                   |   | 381,224   |            |   |   | 84,467 |   |   |   | 296,757 |   |
| AJ Husband              |   |                                                   | 207,836   |   |                    |   | -         |              |   |   | -                |   |   |                     | (207,836 | )      |                   |   | -         |            |   |   | - |   |   |   | - |   |
| BM Palmer               |   |                                                   | 226,392   |   |                    |   | -         |              |   |   | -                |   |   |                     | (226,392 | )      |                   |   | -         |            |   |   | - |   |   |   | - |   |
|                    |   |                                                   |      |   |                    |   |      |              |   |   |             |   |   |                     |     |   |                   |   |      |            |   |   |   |   |   |   |   |   |
| Total                   |   |                                                   | 1,021,324 |   |                    |   | 1,750,000 |              |   |   | -                |   |   |                     | (674,768 | )      |                   |   | 2,096,556 |            |   |   | 223,907 |   |   |   | 1,872,649 |   |

|                    |   | Balance at beginning of period                         |    |   | Granted as remuneration |   |    | Options exercised |   |   | Net change other |   |   | Balance at end of period |   |   | Vested and exercisable |   |    | Not exercisable |   |
|-------------------------|--------|--------------------------------------------------------|---------|--------|-------------------------|--------|---------|-------------------|--------|--------|------------------|--------|--------|--------------------------|--------|--------|------------------------|--------|---------|-----------------|--------|
|                    |   |        1 July, 2011 |    |   |                    |   |    |              |   |   | 30 June, 2012    |   |   | 30 June, 2012            |   |   | 30 June, 2012          |   |
|                    |   | Number                                                 |    |   | Number                  |   |    | Number            |   |   | Number           |   |   | Number                   |   |   | Number                 |   |    | Number          |   |
| Non-executive Directors |   |                                                   |    |   |                    |   |    |              |   |   |             |   |   |                     |   |   |
| WD Rueckert             |   |                                                   | -       |   |                    |   | 25,169  |              |   |   | -                |   |   |                     | -      |   |                   |   | 25,169  |            |   |   | - |   |   |   | 25,169 |   |
|                    |   |                                                   |    |   |                    |   |    |              |   |   |             |   |   |                     |   |   |                   |   |    |            |   |   |   |   |   |   |   |   |
| Executives              |   |                                                   |    |   |                    |   |    |              |   |   |             |   |   |                     |   |   |                   |   |    |            |   |   |   |   |   |   |   |   |
| DP Gold                 |   |                                                   | 220,390 |   |                    |   | 100,000 |              |   |   | -                |   |   |                     | -      |   |                   |   | 320,390 |            |   |   | 119,386 |   |   |   | 201,004 |   |
| TM Zech                 |   |                                                   | 73,463  |   |                    |   | 26,537  |              |   |   | -                |   |   |                     | -      |   |                   |   | 100,000 |            |   |   | 36,726 |   |   |   | 63,274 |   |
|                    |   |                                                   |    |   |                    |   |    |              |   |   |             |   |   |                     |   |   |                   |   |    |            |   |   |   |   |   |   |   |   |
| Total                   |   |                                                   | 293,853 |   |                    |   | 151,706 |              |   |   | -                |   |   |                     | -      |   |                   |   | 445,559 |            |   |   | 156,112 |   |   |   | 289,447 |   |

|       |   | Balance at beginning of period                         |    |   | Granted as remuneration |   |   | Options exercised |   |   | Net change other |   |   | Balance at end of period |   |   | Vested and exercisable |   |    | Not exercisable |   |
|------------|--------|--------------------------------------------------------|---------|--------|-------------------------|--------|--------|-------------------|--------|--------|------------------|--------|--------|--------------------------|--------|--------|------------------------|--------|---------|-----------------|--------|
|       |   |        1 July, 2010 |    |   |                    |   |   |              |   |   | 30 June, 2011    |   |   | 30 June, 2011            |   |   | 30 June, 2011          |   |
|       |   | Number                                                 |    |   | Number                  |   |   | Number            |   |   | Number           |   |   | Number                   |   |   | Number                 |   |    | Number          |   |
| Executives |   |                                                   |    |   |                    |   |   |              |   |   |             |   |   |                     |   |   |                   |   |    |            |   |
| DP Gold    |   |                                                   | 220,390 |   |                    |   | -      |              |   |   | -                |   |   |                     | -      |   |                   |   | 220,390 |            |   |   | 64,282 |   |   |   | 156,108 |   |
| TM Zech    |   |                                                   | 73,463  |   |                    |   | -      |              |   |   | -                |   |   |                     | -      |   |                   |   | 73,463  |            |   |   | 18,366 |   |   |   | 55,097 |   |
|       |   |                                                   |    |   |                    |   |   |              |   |   |             |   |   |                     |   |   |                   |   |    |            |   |   |   |   |   |   |   |   |
| Total      |   |                                                   | 293,853 |   |                    |   | -      |              |   |   | -                |   |   |                     | -      |   |                   |   | 293,853 |            |   |   | 82,648 |   |   |   | 211,205 |   |

|                |   | Balance 1 July, 2011 |       |   | Granted as remuneration |   |   | On exercise of options |   |   | Net change other |   |   | Balance 30 June, 2012 |    |
|---------------------|--------|---------------------------|------------|--------|-------------------------|--------|--------|------------------------|--------|--------|------------------|--------|--------|----------------------------|---------|
|                |   | Number Ord                |       |   | Number Ord              |   |   | Number Ord             |   |   | Number Ord       |   |   | Number Ord                 |    |
| Executive Directors |   |                      |       |   |                    |   |   |                   |   |   |             |   |   |                       |    |
| WD Rueckert *       |   |                      | 5,000      |   |                    |   | -      |                   |   |   | -                |   |   |                       | -       |   |   |   | 5,000 |   |
| JT Austin *         |   |                      | 20,288,053 |   |                    |   | -      |                   |   |   | -                |   |   |                       | -       |   |   |   | 20,288,053 |   |
| JP O'Connor @       |   |                      | -          |   |                    |   | -      |                   |   |   | -                |   |   |                       | 253,551 |   |   |   | 253,551 |   |
|                |   |                      |       |   |                    |   |   |                   |   |   |             |   |   |                       |    |   |   |   |   |   |
| Executives          |   |                      |       |   |                    |   |   |                   |   |   |             |   |   |                       |    |   |   |   |   |   |
| CD Kearney #        |   |                      | 8,850      |   |                    |   | -      |                   |   |   | -                |   |   |                       | -       |   |   |   | 8,850 |   |
| MG Hinze            |   |                      | 14,728     |   |                    |   | -      |                   |   |   | -                |   |   |                       | -       |   |   |   | 14,728 |   |
|                |   |                      |       |   |                    |   |   |                   |   |   |             |   |   |                       |    |   |   |   |   |   |
| Total               |   |                      | 20,316,631 |   |                    |   | -      |                   |   |   | -                |   |   |                       | 253,551 |   |   |   | 20,570,182 |   |

|                |   | Balance 1 July, 2010 |    |   | Granted as remuneration |   |   | On exercise of options |   |   | Net change other |   |   | Balance 30 June, 2011 |       |
|---------------------|--------|---------------------------|---------|--------|-------------------------|--------|--------|------------------------|--------|--------|------------------|--------|--------|----------------------------|------------|
|                |   | Number Ord                |    |   | Number Ord              |   |   | Number Ord             |   |   | Number Ord       |   |   | Number Ord                 |       |
| Executive Directors |   |                      |    |   |                    |   |   |                   |   |   |             |   |   |                       |       |
| WD Rueckert *       |   |                      | 5,000   |   |                    |   | -      |                   |   |   | -                |   |   |                       | -          |   |   |   | 5,000 |   |
| JT Austin * @       |   |                      | -       |   |                    |   | -      |                   |   |   | -                |   |   |                       | 20,288,053 |   |   |   | 20,288,053 |   |
| PA Johnston #       |   |                      | 73,594  |   |                    |   | -      |                   |   |   | -                |   |   |                       | -          |   |   |   | 73,594 |   |
| GM Leppinus #       |   |                      | 11,883  |   |                    |   | -      |                   |   |   | -                |   |   |                       | -          |   |   |   | 11,883 |   |
| PJ Nestel AO #      |   |                      | 32,000  |   |                    |   | -      |                   |   |   | -                |   |   |                       | -          |   |   |   | 32,000 |   |
|                |   |                      |    |   |                    |   |   |                   |   |   |             |   |   |                       |       |   |   |   |   |   |
| Executives          |   |                      | -       |   |                    |   |   |                   |   |   |             |   |   |                       |       |   |   |   |   |   |
| CD Kearney          |   |                      | 8,850   |   |                    |   | -      |                   |   |   | -                |   |   |                       | -          |   |   |   | 8,850 |   |
| MG Hinze            |   |                      | 14,728  |   |                    |   | -      |                   |   |   | -                |   |   |                       | -          |   |   |   | 14,728 |   |
| RL Erratt #         |   |                      | 271,368 |   |                    |   | -      |                   |   |   | -                |   |   |                       | -          |   |   |   | 271,368 |   |
| AJ Husband #        |   |                      | 102,920 |   |                    |   | -      |                   |   |   | -                |   |   |                       | -          |   |   |   | 102,920 |   |
| BM Palmer #         |   |                      | 205,636 |   |                    |   | -      |                   |   |   | -                |   |   |                       | -          |   |   |   | 205,636 |   |
|                |   |                      |    |   |                    |   |   |                   |   |   |             |   |   |                       |       |   |   |   |   |   |
| Total               |   |                      | 725,979 |   |                    |   | -      |                   |   |   | -                |   |   |                       | 20,288,053 |   |   |   | 21,014,032 |   |

|                                            |   | 2012   |   |   | 2011   |   |   | 2010   |   |
|-------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|                                            |   | A$'000 |   |   | A$'000 |   |   | A$'000 |   |
| Total revenue                                   |   |   | 1,031  |   |   |   | 11,353 |   |   |   | 8,123 |   |
| Expenses                                        |   |   | (1,624 | )      |   |   | (9,882 | )      |   |   | (7,546 | ) |
|                                            |   |   | (593   | )      |   |   | 1,471  |   |   |   | 577 |   |
|                                            |   |   |   |   |   |   |   |   |   |   |   |   |
| Proceeds from sale of consumer business         |   |   | 9,500  |   |   |   | -      |   |   |   | - |   |
| Termination costs                               |   |   | (1,018 | )      |   |   | -      |   |   |   | - |   |
| Other transaction costs                         |   |   | (490   | )      |   |   | -      |   |   |   | - |   |
|                                            |   |   | 7,992  |   |   |   | -      |   |   |   | - |   |
|                                            |   |   |   |   |   |   |   |   |   |   |   |   |
| Profit before tax from discontinuing operations |   |   | 7,399  |   |   |   | 1,471  |   |   |   | 577 |   |
|                                            |   |   |   |   |   |   |   |   |   |   |   |   |
| Tax expense                                     |   |   | (7     | )      |   |   | (4     | )      |   |   | (9 | ) |
|                                            |   |   |   |   |   |   |   |   |   |   |   |   |
| Profit after tax from discontinuing operations  |   |   | 7,392  |   |   |   | 1,467  |   |   |   | 568 |   |

|                                                    |   | 2012   |   |   | 2011   |   |   | 2010   |   |
|---------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
|                                                    |   | A$'000 |   |   | A$'000 |   |   | A$'000 |   |
|                                                    |   |   |   |   |   |   |   |   |   |
| Net cash inflow from operating activities               |   |   | 2,469  |   |   |   | 1,202  |   |   |   | 593 |   |
| Net cash inflow from investing activities               |   |   | 7,992  |   |   |   | -      |   |   |   | - |   |
| Net cash increase generated by discontinuing operations |   |   | 10,461 |   |   |   | 1,202  |   |   |   | 593 |   |

|         |   | 2012   |   |   | 2011   |   |
|--------------|--------|--------|--------|--------|--------|--------|
|         |   | A$'000 |   |   | A$'000 |   |
|         |   |   |   |   |   |   |
| Inventories  |   |   | -      |   |   |   | 654 |   |
| Total assets |   |   | -      |   |   |   | 654 |   |
|         |   |   |   |   |   |   |   |   |
| Net assets   |   |   | -      |   |   |   | 654 |   |

|   | (a) | The Company is continuing to prosecute its IP rights and in June 2007 announced that the Vienna Commercial Court had upheld a provisional injunction against an Austrian company, APOtrend. The Company has provided a guarantee to the value of €250,000 with the court to confirm its commitment to the ongoing enforcement process. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b) | As a condition of establishing bank facilities Novogen Limited and its subsidiaries, Novogen Laboratories Pty Ltd and Novogen Research Pty Ltd have entered into a Guarantee and Indemnity with St George Bank in January 1997. The effect of the guarantee is to guarantee amounts owed to the bank by any of the above Novogen companies. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c) | Although the Company assigned its liability for the property lease in June 2012, it remains as the original lessee and should the assignee default on the lease, a potential liability may exist. Offsetting this contingent liability the Company holds a letter of personal guarantee from the director of the assignee company, which guarantees the obligations of the assignee company contained or implied in the original lease. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Parent entity guarantees are further disclosed in Note 18. |
|--------|------------------------------------------------------------|

| Exhibit No. | Exhibit Description                                                                                                                                                                                                                 |
|-------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 1.1         | Constitution of Novogen Limited (formerly known as the Memorandum of Association and Articles of Association). (1)                                                                                                                  |
| 2.1         | Deposit Agreement as further amended and restated, dated as of September 29, 2005, among Novogen Limited, the Bank of New York, as Depositary, and owners and holders from time to time of ADRs issued thereunder. (2)              |
| 4.1         | Lease between Hyperion Property Syndicates Limited (Lessor) and Novogen Laboratories Pty Ltd for the Company's corporate headquarters at 140 Wicks Road, North Ryde, New South Wales. (5)                                           |
| 4.2         | Employment Contract between the Company and Professor Alan Husband dated March 10, 2010. (5)                                                                                                                                        |
| 4.3         | Employment Contract between the Company and Bryan Palmer dated March 10, 2010. (5)                                                                                                                                                  |
| 4.4         | Employment Contract between the Company and Craig Kearney dated March 10, 2010. (5)                                                                                                                                                 |
| 4.5         | Employment Contract between the Company and Ronald Erratt dated March 10, 2010. (5)                                                                                                                                                 |
| 4.6         | Employment Contract between the Company and Mark Hinze dated September 23, 2010. (5)                                                                                                                                                |
| 4.7         | Patent License Agreement, dated as of November 13, 1997, by and among Novogen Limited, Novogen Research Pty Limited, Novogen Inc. and Protein Technologies International Inc.** (3)                                       |
| 4.8         | Amendment to the Patent License Agreement, dated as of June 21, 2004 by and among Novogen Limited, Novogen Research Pty Limited, Novogen Inc. and Solae LLC (formerly known as Protein Technologies International Inc.)** (4)  |
| 4.9         | Asset Purchase Agreement, dated as of December 21, 2010, between MEI, the Company and Novogen Pty Limited (6).                                                                                                                      |
| 4.10        | Amendment Agreement with Archer Daniels Midland Company, dated June 30, 2011 (6)                                                                                                                                                    |
| 4.11        | Securities Subscription Agreement, dated as of September 27, 2011, between Marshall Edwards, Inc. and Novogen Limited. (7)                                                                                                     |

| 4.12 | Securities Subscription Agreement, dated as of December 28, 2011, between Marshall Edwards, Inc. and Novogen Limited. (8)                                                           |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 4.13 | Letter from BMS Audit (NSW-VIC) Pty Ltd (formerly named BDO Audit (NSW-VIC) Pty Ltd), dated October 26, 2012, confirming the disclosure in Item 16F. (*)                            |
| 8.1  | Company Subsidiaries. (*)                                                                                                                                                                |
| 12.1 | Certification of the Acting Principal Executive Officer pursuant to Rule 13a – 14(a) of the Securities Exchange Act of 1934, as amended. (*)                                       |
| 12.2 | Certification of Chief Financial Officer pursuant to Rule 13a – 14(a) of the Securities Exchange Act of 1934, as amended. (*)                                                      |
| 13.1 | Certification by the Acting Principal Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350 as added by Section 906 of the Sarbanes – Oxley Act of 2002. (*) |

|   | * | Filed herewith. |
|--------|---|-----------------|

|   | ** | Portions of these documents have been omitted pursuant to a request for confidential treatment. Such omitted portions have been filed separately with the SEC. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (1) | Incorporated by reference to the Registration Statement on Form 20-F filed with the Securities and Exchange Commission on December 24, 1998 (File No. 0-29962) |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (2) | Incorporated by reference to the Registration Statement on Form F-6 filed with the Securities and Exchange Commission on September 29, 2005 (File No. 333-128681) |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (3) | Incorporated by reference to the Annual Report on Form 20-F/A filed with the Securities and Exchange Commission on March 20, 2009 (File No. 0-29962). |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (4) | Incorporated by reference to the Annual Report on Form 20-F/A filed with the Securities and Exchange Commission on May 5, 2009 (File No. 0-29962). |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (5) | Incorporated by reference to the Annual Report on Form 20-F filed with the Securities and Exchange Commission on December 13, 2010 (File No. 0-29962). |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (6) | Incorporated by reference to the Annual Report on Form 20-F filed with the Securities and Exchange Commission on December 13, 2011 (File No. 0-29962). |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (7) | Incorporated by reference to Exhibit 10.1 to the Registrant’s Subsidiary’s (MEI Pharma, Inc.) filing on Form 8-K filed on September 29, 2011 (File No. 000-50484). |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (8) | Incorporated by reference to Exhibit 10.1 to the Registrant’s Subsidiary’s (MEI Pharma, Inc.) filing on Form 8-K filed on December 28, 2011 (File No. 000-50484). |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Name of Entity               | Country of Incorporation | Ownership %  |
|------------------------------|--------------------------|-------------------|
| Novogen Laboratories Pty Ltd | Australia                | 100               |
| Novogen Research Pty Ltd     | Australia                | 100               |
| Novogen Inc                  | USA                      | 100               |
|   Glycotex, Inc.   | USA                      | 99.7              |
| MEI Pharma, Inc.             | USA                      | 63.5              |

| 1. | I have reviewed this Annual Report on Form 20-F for the fiscal year ended June 30, 2012 (“Report”) of Novogen Limited (the “Company”); |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | Based on my knowledge, this Report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this Report; |
|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | Based on my knowledge, the financial statements, and other financial information included in this Report, fairly present in all material respects the financial condition, results of operations and cash flows of the Company as of, and for, the periods presented in this Report. |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | The Company’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e) ) and internal control over financial reporting (as defined in the Exchange Act Rules 13a-15(f) and 15d-15(f)  for the Company and have: |
|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | a. | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared: |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | c. | Evaluated the effectiveness of the Company’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | d. | Disclosed in this report any change in the Company’s internal control over financial reporting that occurred during the period covered by the annual report that has materially affected, or is reasonably likely to materially affect the Company’s internal control over financial reporting; and |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5. | The Company’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Company’s auditors and the audit committee of the Company’s board of directors (or persons performing the equivalent functions). |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | a. | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Company’s ability to record, process, summarize and report financial information; and |
|--------|----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | Any fraud, whether or not material, that involves management or other employees who have a significant role in the Company’s internal control over financial reporting. |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.   I have reviewed this Annual Report on Form 20-F for the fiscal year ended June 30, 2012 (“Report”) of Novogen Limited (the”Company”); |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2.   Based on my knowledge, this Annual Report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this Report; |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.  Based on my knowledge, the financial statements, and other financial information included in this Report, fairly present in all material respects the financial condition, results of operations and cash flows of the Company as of, and for, the periods presented in this Report; |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 4.  The company’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e) ) and internal control over financial reporting (as defined in the Exchange Act Rules 13a-15(f) and 15d-15(f))  for the Company and have: |
|--------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (a)   | Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared: |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c)   | Evaluated the effectiveness of the Company’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and |
|-----------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d)   | Disclosed in this report any change in the Company’s internal control over financial reporting that occurred during the period covered by the annual report that has materially affected, or is reasonably likely to materially affect the Company’s internal control over financial reporting; and |
|-----------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (a)   | All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Company’s ability to record, process, summarize and report financial information; and |
|-----------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b)   | Any fraud, whether or not material, that involves management or other employees who have a significant role in the Company’s internal control over financial reporting. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (1)   | The Company’s periodic report on Form 20-F for the period ended June 30, 2012 (the “Form 20-F”) fully complies with the requirements of section 13(a) of the Securities Exchange Act of 1934 as amended; and |
|-----------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2)   | The information contained in the Form 20-F fairly presents, in all material respects, the financial condition and results of operations of the Company. |
|-----------------|---------------------------------------------------------------------------------------------------------------------------------------------------------|