MEMPHASYS LIMITED. — Capital/Financing Update 2009

Jul 21, 2009

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FOR IMMEDIATE RELEASE

NuSep lodges Share Purchase Offer with Bonus Loyalty shares with ASIC

– SYDNEY, AUSTRALIA – 22[nd ] July 2009 NuSep (ASX: NSP) wishes to advise the market that it has lodged a prospectus with ASIC for the Share Purchase Offer it advised the market of on Tuesday 10 July 2009.

The Board has developed this Share Purchase Offer (SPO) to offer our 1,000 plus smaller shareholders with an attractive way of increasing their shareholding in NuSep at a discount to the current market price. Shareholders who take up the SPO will also receive a 1 for 4 Bonus Loyalty Share so long as they hold the SPO shares until 27 November 2009.

This SPO will be underwritten by the Board and some significant shareholders to $1m.

The SPO will only be offered to NuSep Shareholders. The books close date for entitlement to this SPO is Tuesday 28 July 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:

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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.

Postal Address Contact Details Email info@nusep.com P.O. Box 823 Telephone +61 2 8977 9000 Web www.nusep.com Lane Cove NSW 1595 Facsimile +61 2 8977 9099 ABN 33 120 047 556

NuSep Ltd 324 Burns Bay Rd Lane Cove NSW 2066

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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