MEMPHASYS LIMITED. — Capital/Financing Update 2012

Apr 1, 2012

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FOR IMMEDIATE RELEASE

Upate on Payment of $1.8m From Exercise of Share Options

Sydney, Australia 2[nd] April 2012 - NuSep (ASX: NSP) wishes to update the market on the payments received for the $1.8m of 15¢ 31[st] March 2012 share options exercised by Mr Goh Thee Woon.

Initially these share options were taken up by Mr Goh in his own name. In January 2012 these shares were transferred by Mr Goh into his healthcare investment company called DSC Healthcare Pte Ltd. Mr Goh owns 33.3% of this company and the remaining 66.7% is held by Mr Samuel Chai.

Up to and including 31 March 2012 NuSep has received $316,730 in part payment of the $1.8m due on the exercise of the share options from Mr Goh. In total Mr Goh has paid 52% of the money owing on these shares options leaving a balance of $291,840.05 including interest owing on what is owed to the company..

As at 31[st] March 2012, Mr Chai has not made any payment against his debt of $1,209,329.56 plus interest.

The Company has sent letters to both Mr Goh and Mr Chai and expects to organise personal guarantees backed by tangible assets to pay the amount outstanding along with payment timetables. In the absence of receiving these items the Company will initiate legal proceedings to recover the outstanding balance under the existing promissory notes. Nusep will update the market on further developments on this matter.

ENDS

For more information please contact:

Contact: Prakash Patel Chief Operating Officer +61 2 8415 7300 prakash.patel@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.

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

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

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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 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 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.