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PI-88 Data to be Presented at Key International Conferences

BRISBANE, Australia, March 12, 2007: Progen Industries Limited (ASX: PGL; NASDAQ: PGLA) is pleased to announce that its PI-88 Phase II liver cancer data has been accepted for late breaking news presentation by the European Association for the Study of the Liver (EASL). Progen will also be presenting the results of this liver cancer trial at the American Association for Cancer Research (AACR) Annual Meeting 2007.


In expectation of having final data fully analysed and ready for disclosure, Progen is planning for Professor PJ Chen, Principal Investigator of this trial, to present the 48 week data for all 172 patients that were recruited to this multi-site Phase II clinical trial. This presentation will take place on Saturday 14 April 2007 at the 42nd EASL Annual Meeting, which is to be held in Barcelona, Spain from April 11-15, 2007.


Dr. Anand Gautam, Progen's VP of Discovery Research, will be presenting results at the AACR Annual Meeting 2007, which will be held in Los Angeles, U.S, from April 14-18, 2007.


About Progen: Progen Industries Limited is an Australian based globally focused biotechnology company committed to the discovery, development and commercialisation of small molecule pharmaceuticals for the treatment of cancer and other serious diseases.


Progen's three key areas of focus are:

* Clinical Development - via a focused clinical trial program involving its two compounds PI-88 and PI-166.

* Drug Discovery - projects focusing on the development of potent, selective inhibitors of carbohydrate-protein interactions, which are implicated in many disease processes.

* Manufacturing Services - PI-88 manufacturing development and supply for the clinical program and contract manufacturing services.


Keywords - Progen, liver cancer, PI-88.

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