MEMPHASYS LIMITED. — Board/Management Information 2012

Aug 15, 2012

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FOR IMMEDIATE RELEASE

NuSep Restructures Board and Company to Focus on commercial applications of the PrIME technology

Sydney, Australia 16[th] August 2012 - NuSep (ASX: NSP) wishes to announce that with the purchase of the A-Bio facility in Singapore (announced on 14 August 2012), the Board has resolved to restructure the Company based on applications of the PrIME technology.

Going forward each application of the PrIME technology will be run as a separate company so that it can focus exclusively on developing its own application of the PrIME technology into successful businesses. The Board has resolved that NuSep Holdings Ltd ( Holdings or NuSep ) will act as a holding company primarily directing the various operational companies on the basis of their P&L and developing new applications of the PrIME technology. Day to day operation of these entities will now be delegated to each of these subsidiaries which will be held accountable for achieving their budgets on a quarterly basis.

As shown by the recent PrIME Biologics investment, this new structure will enable NuSep to raise additional funds for the new applications of the PrIME technology at the subsidiary level. By separating specific applications of the PrIME technology, these external investors can value each of these commercial applications on a cashflow/stand alone business basis, thereby unlocking the true value of these businesses.

This approach was recently shown by the S$6m investment in PrIME Biologics which valued that business at S$60m (A$46m),. NuSep will continue to pursue this form of funding so long as it allows the Company to unlock the value of assets relative to its share price. To this end the Company is evaluating similar investment possibilities for the SpermSep application of the PrIME technology.

The new corporate and organisational structure is outlined below. Initially NuSep will own 100% of each of the subsidiaries. As additional external funding comes into PrIME Biologics it is expected that NuSep’s shareholding will be reduced to approximately 50%.

By bringing this investment directly into PrIME Biologics NuSep is able to fund the S$20m Singapore project without requiring NuSep shareholders to directly fund this project. By bringing the external investment into PrIME, NuSep has established an external valuation which is significantly above the total value of NuSep, and thereby unlocking some of the PrIME value.

Cont.

Contact Details Telephone +61 2 8415 7300 Facsimile +61 2 8415 7399

Email info@nusep.com Web www.nusep.com 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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The above graphic also shows some of the main product categories that each of the companies sell. The Australian subsidiary, NuSep P/L will manufacture all the membranes for the various applications including plasma and sperm. This will provide a significant revenue stream for NuSep P/L and based on PrIME’s budget could be NuSep P/L’s main revenue stream within 3 years.

Each company will have a Managing Director (MD) who will be an operational person. In addition there will be representatives from the Holdings Board on each of these subsidiary boards. For Boards that are wholly owned by Holdings there will be three members on the Board - two Holdings Board members and 1 operational MD. The Holdings Board members would direct the MD and also report back to the Holdings Board on developments in the Company.

NuSep Holdings Executive Roles

As a result of this reorganisation, it is clear that the role of an Executive Chairman role is no longer required and that the role of the Managing Director has been significantly altered.

The Managing Director’s role has now been altered from an operational role to a financial coordinating role and implementation of HR decisions that fall within the domain of the Holdings Board. This will allow Dr. Nair to devote a large proportion of his time in managing the operations of Prime Biologics Pte Ltd in Singapore.

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Accordingly, John Manusu will take on the role of Non-Executive Chairman of Nusep. Dr Hari Nair will take on the altered position of Managing Director for the Nusep Holdings Board. Mr Prakash Patel, who is currently NuSep’s Chief Operating Officer will become Managing Director of NuSep Australia Pty Ltd and will also take on the role of Managing Director of SpermGen Pty Ltd.

Dr Nair is also the Executive Chairman of PrIME Biologics Pte Ltd and Mr Manusu its Managing Director.

Mr John Manusu, the Non-Executive Chairman of NuSep Holdings said. “These changes were discussed at the last AGM as a way of bringing focus to each of the business units. With funding for PrIME in Singapore now underway the time has come to restructure the organisation around the PrIME technology so that we can unlock the value for shareholders of this platform technology.”

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. Prior to this announcement PrIME Biologics was 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. 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.