MEMPHASYS LIMITED. — Capital/Financing Update 2009

Dec 9, 2009

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FOR IMMEDIATE RELEASE

NuSep Increases Profit Forecast to $1m after it Acquires BioInquire and completes Placement at 30c -Broadcast

– SYDNEY, AUSTRALIA – 10[th] December 2009 NuSep (ASX: NSP) wishes to advise the market that there is an audio broadcast with Dr Hari Nair, Managing Director/ CEO, NuSep Ltd in a presentation titled "NuSep Increases Profit Forecast to $1m after it Acquires BioInquire and completes Placement at 30c”.

To listen, to this broadcast copy the following details into your web browser: www.brr.com.au/event/63148 .

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 manufactures and sells precast gels including the innovative iGels, with a 2 year shelf life.

• Separation Instruments – NuSep has developed two unique biological separation instruments. The first instrument released in 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.

• 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 8197 3377 prakash.patel@nusep.com

Postal Address P.O. Box 823 Lane Cove NSW 1595

Contact Details Telephone +61 2 81973377 Facsimile +61 2 9427 8614

Email info@nusep.com Web www.nusep.com ABN 33 120 047 556

NuSep Ltd 324 Burns Bay Rd Lane Cove NSW 2066