MEMPHASYS LIMITED. — Interim / Quarterly Report 2012

Feb 29, 2012

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FOR IMMEDIATE RELEASE

Correction to Appendix 4D

Sydney, Australia 1[st] March 2012 - NuSep (ASX: NSP) wishes to advise the market of a typographical error in the appendix 4D released to the market yesterday.

The appendix 4D released to the market yesterday stated that the Company made a loss of $25,147. This is incorrect, the Company actually made a Net Profit of $25,147 . In all other respects the appendix 4D was correct.

A revised appendix 4D is attached to this release.

*ENDS*

For more information please contact:

Contact: Tom Rowe Company Secretary +61 2 8415 7300 tom.rowe@nusep.com

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.

Postal Address Contact Details Email info@nusep.com P.O. Box 823 Telephone +61 2 8415 7300 Web www.nusep.com Lane Cove NSW 1595 Facsimile +61 2 8415 7399 ABN 33 120 047 556

NuSep Holdings Ltd 324 Burns Bay Rd Lane Cove NSW 2066

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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 currently a wholly owned subsidiary of NuSep Holdings Limited (ASX: 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. 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 countries.

NuSep Holdings Ltd Half Year Report 31 December 2011

Appendix 4D

Half year report

Name of entity
NuSep Holdings Ltd
ABN 33 120 047 556	Financial half year ended:
33 120 047 556	31 DECEMBER 2011

For announcement to the market

For announcement to the market	For announcement to the market	For announcement to the market	For announcement to the market
$A'000
Sales Up 102% to 1,070 Total Revenues Up 42% to 1,846 Profit from ordinary activities after tax attributable to members Up 2,241% to 25 Net profit for the period attributable to members Up 2,241% to 25
Dividends (distributions)		Amount per security	Franked amount per security
Final dividend		Nil	Nil
Previous corresponding period		Nil	Nil
Record date for determining entitlements to the dividend, Brief explanation of any of the figures reported above: Refer attached press release and notes to the accounts.	N/A

NTA backing	31 December 2011	31 December 2010
Net tangible asset backing per ordinary security	2.4 cents	1.7 cents

31 December 2011 Appendix 4D