MEMPHASYS LIMITED. — Capital/Financing Update 2012

Sep 26, 2012

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FOR IMMEDIATE RELEASE

NuSep Working Capital Advance and update on Debt with DCS Healthcare Pte Ltd

Sydney, Australia 27[th] September 2012 - NuSep (ASX:NSP) wishes to advise the Market that to assist in the continued expansion of its consumables business and the commercialisation of the Prime technology the company has arranged a $494K working capital advance.

This fully drawn working capital facility has been provided on normal commercial terms. The interest rate on this facility is 12% pa and the facility is due for payment in December 2012. The loan facility consists of $260K provided by Mr John Manusu, NonExecutive Chairman of NuSep and $234K which has been provided by parties that are related to Mr Andrew Goodall, a Non-Executive Director of NuSep.

Commercial Debt with DCS Healthcare Pte Ltd

As previously advised to the markets, the Company had entered into a commercial arrangement with DCS Healthcare Pte Ltd for the settlement of the $1.8m debt outstanding at 31 December 2011. During the period to 30 June 2012 the shareholder had reduced the debt by $509,227. The balance of the debt at 30 June 2012 was $1,384,177. For accounting purposes only this balance has been fully impaired in the 30 June 2012 financial statements. While this debt relates to an equity raising, the applicable accounting standard now requires this amount to be impaired through the Profit and Loss Statement and not as a reduction in Equity. This accounting change will result in an additional impairment expense of $1,384,177 in the Profit and Loss statement. The accounting standard will allow the Company to reflect all future payments received from the debtor against this debt as Income in the Profit and Loss Statement in future accounting periods.

Subsequent to year end, as the initial position with DCS Healthcare Pte Ltd was a commercial debt without formal security, the Company has worked with the directors of DCS Healthcare Pte Ltd and arranged for Mr Thee Woon Goh to reclaim the shares and transfer these into his personal name so that NuSep could obtain a full recourse position against an individual as DCS Healthcare Pte Ltd was a company without additional chargeable assets. A commercial debt agreement was executed in September 2012 with Mr Goh which includes a formal lien over the related shares.

NuSep expects full recovery of the $1,384,177 commercial debt in due course and if not settled will commence recovery proceedings.

The above accounting impairment adjustment has not changed the previously reported results at 30 June 2012 of an EBITDA loss of $1,128,774 and an Operational loss of

Contact Details Email info@nusep.com Telephone +61 2 8415 7300 Web www.nusep.com Facsimile +61 2 8415 7399 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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$727,843 for the year. However the net loss for the period has increased by the above non cash impairment charge of $1,384,177 to $6,308,215 and the Net asset position has changed to $4,562,379.

The Company is in the process of finalising its audited 30 June 2012 Annual Financial Report and this will be released to the market on Friday 28 September 2012.

ENDS

For more information please contact:

Contact: Swapna Keskar Company Secretary +61 2 8415 7300 keskar@companymatters.com.au

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 nUView Gels, which can be visualised 2 minutes after use.

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• 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.

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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.

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• 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

About PrIME Biologics Pte Ltd

PrIME Biologics is a Singapore based biotech company that has developed a disposable procedure for the processing of plasma proteins. PrIME Biologics is a subsidiary of NuSep Holdings Limited (ASX:

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NSP). PrIME Biologics process is based on the Pr eparative I solation by M embrane E lectrophoresis (PrIME) technology developed by NuSep. PrIME provides disposable modular processing that is ‘electronically’ driven membrane fractionation.

The PrIME process increases product yields to over 90% relative to the existing process 50% while increasing product safety. The PrIME has been shown to remove virus, bacteria, endotoxins and prions which cause ‘Mad Cow Disease’. Further, PrIME Biologics process can produce multiple plasma products in hours compared to days, which is required by the current manufacturers.

The initial application for the PrIME process will be the Currently Unprocessable Plasma which represents approximately 50% of all the plasma collected in many Asian countries.