MEMPHASYS LIMITED. — Capital/Financing Update 2009

Sep 13, 2009

FOR IMMEDIATE RELEASE

==> picture [173 x 57] intentionally omitted <==

NuSep raises $2.8m via SPO

– SYDNEY, AUSTRALIA – 14[th] September 2009 NuSep (ASX: NSP) is pleased to announce that its Share Purchase Offer (SPO) has been significantly oversubscribed. The company has raised $2.8m via the recent Share Purchase Offer and an associated share placement.

In total 430 NuSep Shareholders participated in the SPO. This shows significant support for the company from its shareholders. “I am humbled and delighted by the support shown by our shareholders” said the Executive Chairman Mr John Manusu.

The SPO was initially designed to raise $2m of which $1m was underwritten by Directors and shareholders. The Board of Directors has agreed to accept the oversubscription and use the monies raised for the commercialization of the MF10 and SpermSep instrument. “We are thoroughly committed to hitting our financial targets and achieving our projected $500,000 profit for this coming financial year. I would like to thank all our shareholders for this massive show of confidence” said Dr Hari Nair Managing Director of NuSep.

NuSep will issue the shares under this SPO today. The oversubscription will be approved at NuSep’s AGM on 27 November 2009.

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:

==> picture [13 x 10] intentionally omitted <==

==> picture [13 x 10] intentionally omitted <==

• 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

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

Contact Details Email info@nusep.com Telephone +61 2 9427 8384 Web www.nusep.com Facsimile +61 2 9427 8614 ABN 33 120 047 556

NuSep Ltd 324 Burns Bay Rd Lane Cove NSW 2066

– 2 –

==> picture [13 x 10] intentionally omitted <==

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 8977 9000 prakash.patel@nusep.com