MEMPHASYS LIMITED. — Capital/Financing Update 2010

May 6, 2010

FOR IMMEDIATE RELEASE

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1:2 Rights Issue Timetable and Investor Presentation Dates

– SYDNEY, AUSTRALIA – 7[th] May 2010 NuSep (ASX: NSP) wishes to advise the new 1:2 Rights Issue timetable following the release of the replacement prospectus dated 4 May 2010. In addition the Company will hold the following shareholder/investor presentations.

Melbourne

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12 noon Tuesday 18 May 2010

Sydney

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12 noon Wednesday 19 May 2010

Shareholders and Investors interested in attending these investor presentations should email to cosec@nusep.com or call Meenal Mahtani on +61 2 8197 3377.

The timetable for the pending Rights Issue is outlined below:

EVENT	DATE
Shareholders informed of the Rights Offer	Wednesday 17thMarch 2010
Prospectus lodged with the ASIC and ASX.	Tuesday 4thMay 2010
Opening Date of Rights Offer	Wednesday 5thMay 2010
Dispatch of Prospectus	Wednesday 5thMay 2010
Closing Date of Rights Offer	Friday 21stMay 2010
Holding statements dispatched	Wednesday 26th May 2010
Normal Trading of NuSep Shares	Thursday 27th May 2010

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.

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

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

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

• 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