CIR`s:Options to shareholders of Circadian Technologies Ltd

Document date:  Fri 21 Dec 2001
Published:  Mon 24 Dec 2001 00:00:00
Document No:  185266
Document part:  A
Market Flag:  N


HOMEX - Melbourne                                                     

With the official quotation of Antisense Therapeutics Limited
("Antisense") yesterday, we wish to advise arrangements for the offer
of Antisense Options to shareholders of Circadian Technologies
Limited ("Circadian").

As advised in the Antisense Prospectus, each shareholder in Circadian
will be offered one Option for each share they hold in Circadian. The
price for the options will be one cent, and they will be exercisable
at 20 cents at any time on or before 1 February 2007. The record date
has been previously advised as 10 business days after ASX quotation
of Antisense.

We now confirm the following timetable:

Record date (to determine which 
Circadian shareholders to receive
offer of Options                               8 January 2002 

Last day Circadian shares quoted 
on the ASX on a CUM entitlement
basis                                        31 December 2001

Circadian shares quoted on the 
ASX on an EX entitlement basis                 2 January 2002

Option acceptances close (except 
for member organisations)                    15 February 2002

Option acceptances from member 
organisations close                          22 February 2002

Expected date of quotation 
of Options on the ASX                            4 March 2002

G Kaufman