MEMPHASYS LIMITED. — Major Shareholding Notification 2009

Dec 21, 2009

FOR IMMEDIATE RELEASE

Substantial Shareholder Announcement

SYDNEY, AUSTRALIA – 22 December 2009 – NuSep (ASX: NSP) wishes to advise the market of the change of interest of a substantial shareholder. The attached notice form includes the issue of shares under the recently completed \$830,000 share placement.

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:

• 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 (SpermSep) separates sperm for fertility treatments such as IVF. Initial successful clinical trials were completed in late 2008 and final clinical trials will be undertaken in 2010 with sales to occur later that year.
• 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 9427 8384 prakash.patel@nusep.com

Postal Address P.O. Box 823 Lane Cove NSW 1595 Contact Details Telephone +61 2 9427 8384 Facsimile +61 2 9427 8614 Email info@nusep.com Web www.nusep.com ABN 33 120 047 556

Form 604

Corporations Act 2001 Section 671B

Notice of change of interests of substantial holder

Io Company Name/Scheme	t-ta
ACN/ARSN
1. Details of substantial holder(1)
Name ACN/ARSN (if applicable)
There was a change in the interests of the substantial holder on
The previous notice was given to the company on The previous notice was dated

2. Previous and present voting power

The total number of votes attached to all the voting shares in the company or voting interests in the scheme that the substantial holder or an associate (2)had a relevant interest (3) in when last required, and when now required, to give a substantial holding notice to the company or scheme, are as follows:

Previous notice		Present notice
Person's votes I	Votin	Person's votes

3. Changes in relevant interests

Particulars of each change in, or change in the nature of, a relevant interest of the substantial holder or an associate in voting securities of the company or scheme, since the substantial holder was last required to give a substantial holding notice to the company or scheme are as follows:

~.l. Date of Person's votes Person whose affected	~{ relevant interest given chagein relation (6) affected number of Consideration Class Natureandof securities PJ.LU'~••.• ~, A\ ____ I I	to change (7)

4. Present relevant interests

Particulars of each relevant interest of the substantial holder in voting securities after the change are as follows:

Holder of relevant interest	Registered holder of securities	Person entitled to be registered as holder (8)	Nature of relevant interest (6)	Class and number of securities	Person's votes
	.~\,	~.

5. Changes in association

The personswho have become associates (2)of, ceased to be associates of, or have changed the nature of their association (9)with, the substantial holder in relation to voting interests in the company or scheme are as follows:

• (8) If the substantial holder is unable to determine the identity of the person (eg. if the relevant interest arises because of an option) write "unknown".
• (9) Give details, if appropriate. of the present association and any change in that association since the last substantial holding notice.