As of July 16, 2010: $39,788,000.00

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Prana Biotechnology Limited (Prana) is a development-stage company researching pharmaceutical products that are designed to treat the underlying causes of degeneration of the brain and the eye as the aging process progresses.

Lead compound: Prana has compounds in Phase II clinical trials - Prana’s lead Alzheimer’s Disease compound, PBT2, has already completed a Phase IIa study in early Alzheimer’s Disease patients and has demonstrated safety and tolerability. In addition, PBT2 showed significant improvement in Executive Function, an important aspect of cognitive performance, and reduced the levels of Abeta in the spinal fluid of patients. Abeta is a key protein associated with Alzheimer’s Disease.

Other potential applications for the Company’s therapies include Huntington’s disease, Parkinson’s disease, certain cancers, age-related macular degeneration, Motor Neuron disease, Creutzfeldt-Jakob disease (the human variant of Mad Cow disease) and age-related cataracts.

The Company has two wholly owned subsidiaries, Prana Biotechnology Inc. and Prana Biotechnology UK Limited. Prana’s activities are focused within Australia and cover research into Alzheimer’s disease and other age-related degenerative disorders.

Finance Sept 09: On the 9th September 2009 Prana Biotechnology announced that it has reached agreement to raise $6 million (Australian) to support its R&D programs, to promote its drug development pipeline and to maintain corporate activities. The funds come from an existing shareholder committed to Prana’s strategy to become a leader in the development of drugs to treat age related neurodegenerative diseases. Under the terms of the funding, Prana will issue 30 million ordinary shares ranking equally with the existing ASX listed ordinary shares (equivalent to 3 million ADR’s on NASDAQ) at a price of 20 cents (Australian currency) per share. These shares which are subject to limited price protection, will be issued without shareholder approval pursuant to the Company’s allowance under ASX Listing Rule 7.1. The investor will also receive, subject to shareholder approval, 10 million free attaching options each to acquire 1 ordinary share at an exercise price of 30 cents and expiring 4 years from the date of issue of the abovementioned shares. The Company will receive $5.7 million (Australian) net of all fees.