Sydney, Mar 7, 2006 (ABN Newswire) - Apollo Life Sciences (ASX: AOP) today announced the appointment of Mr Bill Moss AM as an independent non-executive director of the company.

Mr Moss is the group head and chief executive of Macquarie Bank's Banking and Property Group, which comprises 1,400 staff and provides a comprehensive range of specialised banking, mortgage and margin lending, property and financial services worldwide. He has more than 30 years' experience in the banking and finance industry and is a leading figure in the Australian financial community. He is a director of over 40 Macquarie companies and has oversight of Macquarie's property funds businesses, which manage globally in excess of $23 billion of property-related assets and a listed market capitalization of over $13 billion.

Together with the appointment, Apollo will place four million shares to Mr Moss at the initial public offering price of 50 cents per share, raising $2 million. Mr Moss will also be issued 1.2 million options at a strike price of 65 cents.

Mr John Priest, Apollo chairman and chief executive officer said: "We are delighted that Bill has accepted our invitation to join the board. His multi-industry and international commercial expertise will be invaluable to Apollo. His experience in new venture development will help us ensure we are well prepared to introduce new products to global markets. We welcome the confidence he shows in the company by becoming a significant shareholder."

Mr Moss said: "I am excited to be joining the Apollo board at this pivotal time, as the company prepares to enter new markets and continues its research and development into therapeutic products. I look forward to contributing to the growth of the Apollo business and to its becoming an outstanding Australian specialty pharmaceutical and healthcare company."