MEMPHASYS LIMITED. — Capital/Financing Update 2008

Mar 12, 2008

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FOR IMMEDIATE RELEASE

Expiry of NuSep 50 cent listed Options - update

SYDNEY, AUSTRALIA – 13 March 2008 – NuSep Ltd (ASX: NSP). Further to the announcement dated 12 March 2008 on the expiry of NuSep 50 cent listed options (NSPO) which expire on 31 March 2008, please note that in accordance with the ASX Listing Rules the last date of quotation of NSPO options on the ASX will be 20 March 2008 rather than 31 March 2008 as previously stated.

About NuSep

NuSep (ASX: NSP) is a publicly listed life sciences company that sells products into the global bioseparations market. The company has offices in both Sydney, Australia and Atlanta, USA.

With a 30 year heritage in biological separations, NuSep has forged a world class reputation for its innovative yet simple biological separation techniques including the world’s first IVF sperm separation device. In short NuSep has redefined the BioSeparations market through innovation and simplification.

NuSep’s world renowned research team has developed an extensive portfolio of patented products. In all, NuSep currently manufactures, distributes and sells 55 products to customers in the USA, Europe, Asia and Australia.

NuSep Products:

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• Gels – NuSep offers two precast gel ranges: iGels, innovative gels including long life gels with a 2 year shelf life: and NuBlu, high quality gels at an everyday price.

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• Separation Instruments – NuSep has developed two unique biological separation instruments. The first instrument released in February 2008 can separate biological samples into 8 fractions for use in the proteomic market. The second instrument separates sperm for fertility treatments such as IVF and is presently undergoing clinical trials.

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• Biological Products – NuSep supplies research grade biological products manufactured using its unique separation technologies. These products include human IgG and Albumin.

For more information about NuSep please visit the company’s website www.NuSep.com Contact:

Prakash Patel

Chief Financial Officer & Company Secretary +61 2 8977 9000

prakash.patel@nusep.com

NuSep Ltd Postal Address Contact Details Email info@nusep.com 22 Rodborough Rd P.O. Box 6126 Telephone +61 2 8977 9000 Web www.nusep.com Frenchs Forest NSW 2086 Frenchs Forest NSW 2086 Facsimile +61 2 8977 9099 ABN 33 120 047 556