1. Forward looking statements To the extent that this presentation contains any forecasts, projections or other forward looking statements, they are based upon current expectations and are subject to uncertainty and contingencies, many of which are outside the control of CathRx. Actual performance, events, results or outcomes may differ for a variety of reasons. Furthermore, the assumptions underlying the forward looking statements could prove inaccurate or incorrect. Therefore, there can be no assurance actual results, performance or achievements will be as stated. The reliance that a recipient of this presentation places on any statement, forecast, protection or assumption is a matter for their own commercial judgment. This presentation has been prepared in good faith and with due care. However, none of CathRx or its directors, employees or advisers warrant or represent the accuracy or completeness of the information contained in this presentation. Investor Update No.21 September - December 2010

2. Agenda 1.Strategic program update 2.Advancing the product pipeline 3.Financial snapshot 4.Summary

3. Strategic program overview StrategyStatusComments Execute partnership agreement Europe Completed  Executed partnership agreement with Pioneer  CXD to receive revenue on the sale and re-use of its catheter devices and components  Commenced trade in Europe Future partnerships Next 6-12 months  Preliminary discussions with potential US partners  Oppenheimer & Co. Inc. engaged to  identify strategic transactions;  maximise shareholder value. Product pipeline Next 6 months  First irrigated ablation catheter submitted for CE mark - pending approval  Clinical data procedures commence March 2011 – variable loop catheter + CS catheter  Prove advanced AF technology platform 3  Oppenheimer & Co. Inc. appointed as financial advisor  Engaging with potential US partners as a priority  Irrigated ablation and Variable loop catheters approaching regulatory submission for approval  Both devices uniquely positioned for highest growth segments of catheter market 1 2 3

4. CathRx’s Partnership plan  Have identified multiple potential Partners interested in strategic growth in Cardiology  Modelled business opportunity for CXD’s unique reprocessable advanced catheters for partners consideration  Seeking partnership for US and other markets  Upfront payment – technology access  Milestone payments – technology approvals

5. CathRx is advancing a unique and compelling EP product platform 5 Variable Loop Catheter Animal models March 2011 CE mark submission June 2011 Targeting approval and sales roll out 2H CY2011 Irrigated Ablation Catheter Advanced AF Regulatory approval imminent Proof of concept in progress

6. Irrigated ablation & advanced diagnostics target fast growing market segments 6 Forecast market (USD $m)

7. Financial snapshot (unaudited) Income Statement $’000 Q2 2011 31 December 2010 Q2 2010 31 December 2009 Revenue(14)143 Gross Profit(2)98 Total Expenses(2,351)(2,986) Net Loss(2,353)(2,888) Balance Sheet $’000 31 December 201031 December 2009 Cash8,3155,015 Other assets5,8756,777 Liabilities1,5901,441 Net Assets12,60010,351 Cash flow $’000 Q2 2011 31 December 2010 Q2 2010 31 December 2009 Cash flows from operating activities(1,931)(2,744) Cash flows from investing activities(38)(19) Cash flows from financing and other activities29681 Net increase / (decrease) in cash held(1,673)(2,682)

8. Summary  Appointment of Oppenheimer enhances US partnership opportunity  Next phase of CXD product pipelines advancing rapidly  Products will be unique, compelling and target fastest growth segments of the electrophysiology catheter market  Advanced diagnostics (loops) remain the key to CathRx’s near term valuation upside  Advanced AF proof of concept 8