MEMPHASYS LIMITED. — Capital/Financing Update 2010

Oct 17, 2010

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FOR IMMEDIATE RELEASE

NuSep pays Final Debt Instalment and is now Debt Free

SYDNEY, AUSTRALIA – 18[th] October 2010 – NuSep (ASX: NSP), wishes to advise that it is now debt free following the full and final settlement of the Frenchs Forest lease. This payment completes the restructuring of the Company’s balance sheet and establishes the company as debt free and able to concentrate its resources on operations and sales.

“This is a significant milestone and completes the restructuring of the Company’s general operations and Balance Sheet which has been the focus of the board and management over the last 18 months”, said Mr John Manusu the Executive Chairman of NuSep.

“NuSep is now able to focus solely on expanding its sales and hitting its 2011 profit numbers. An important aspect of this will be the launch of the new gels in midNovember”, said Dr Hari Nair the Managing Director of NuSep.

About NuSep

NuSep (ASX: NSP) is a publicly listed life sciences company that sells products into the global BioSeparations market. NuSep recently acquired BioInquire which developed the ProteoIQ software enabling NuSep to offer a total Proteomics solution from Fraction to Function . 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 ɳUView Gels, which can be visualised 2 minutes after use.

• Separation Instruments – NuSep has developed two unique biological separation instruments. The ProteomeSep was released in 2009 and can separate biological samples into 8 fractions for use in the proteomic market. The SpermSep separates

Contact Details Email info@nusep.com Telephone +61 2 8197 3377 Web www.nusep.com Facsimile +61 2 9427 8614 ABN 33 120 047 556

NuSep Holdings Ltd 324 Burns Bay Rd Lane Cove NSW 2066

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

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sperm for fertility treatments such as IVF and is expected to undergoing clinical trials later this year.

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Proteomics Software – NuSep offers the unique ProteoIQ software for the analysis of complex mass spec samples. This software is also designed to identify bio markers. 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