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Rockeby Biomed signs agreement with Beijing Anheal
20:02, Monday, 20 November 2006

Sydney - Monday - November 20: (RWE Aust Business News) - Rockeby
Biomed Ltd (ASX:RBY) has signed a non-binding but conditional letter of
intent with China's Beijing Anheal Laboratories Co Ltd (BAL) which will
see Rockeby acquire up to a 40 per cent interest in BAL and engage BAL as
the distributor of its bird flu tests in China.
Rockeby said the investment will give it access to the world's
largest poultry market, with the support of the Chinese Government.
It will also strengthen Rockeby's ability to acquire and
distribute new animal diagnostic products, and form alliances with US and
European diagnostic companies which want to access the China market.
Rockeby will provide its product development capabilities to BAL and
introduce new rapid tests for the animal diagnostic market in China.
The letter of intent proposes Rockeby acquires an initial 25 per
cent stake in BAL for $US2.85 million, with settlement expected to occur
next March.
Rockeby will also have the option to acquire an additional 15 per
cent of BAL in September 2007 for $US1.9 million.
Shares of Rockeby Biomed were placed in a trading halt late on
Friday pending the announcement, and last traded at 3.3c.