INSTITUTE OF DRUG TECHNOLOGY

AUSTRALIA LIMITED (IDT)

CHANGE OF AUDITOR

Institute of Drug Technology Australia Limited wishes to advise that the Board of Directors has made a decision to appoint RSM Bird Cameron as the company's new external auditors starting from the 2005-06 financial year.

The shareholders will be asked to approve the new auditor appointment at the company's next Annual General Meeting.

The Board of Directors wishes to publicly thank the company's current auditors PricewaterhouseCoopers (PWC) for their contribution over many years with the company.

For further information, please contact:

Dr Graeme Blackman
Chairman & Managing Director
Institute of Drug Technology Australia Limited
Telephone 03 9801 8888