USCOM LIMITED — Capital/Financing Update 2010

Dec 21, 2010

Uscom Limited ABN 35 091 028 090 Suite 1, Level 7, 10 Loftus Street Sydney NSW 2000 Australia T +612 9247 4144 F +612 9247 8157 www.uscom.com.au

M A R K E T A N N O U N C E M E N T

New Capital and Board at Uscom (ASX code UCM)

In a major shakeup at Uscom Ltd a newly revamped board has been installed after the successful capital raising of $3million being fully allocated. Phil Kiely, former managing director of Oracle Corporation, was today appointed as Executive Chair to reshape the company into a global leader in the biotechnology sector.

The private placement was priced at 30c per share raising $3m ($2.9M committed and $0.1M contingent). Up to 15% of the capital of the company ($1.88M maximum) will be issued immediately with the balance being issued subject to shareholder approval early in the New Year. The company will also offer shares to all existing shareholders on the same terms as the placement through a Share Purchase Plan.

The capital will be directed at implementing a new sales culture in the company and strengthening a new and invigorated sales distribution channel to achieve global sales success for the award winning and life saving cardiac output monitor, the USCOM 1A.

The board also announced the appointment of Mr Jochen Bonitz effective 4[th] January, as a nonexecutive Director as a replacement for Mr Roman Zwolenski, who is retiring after 8 years. Mr Bonitz was a former Director at KPMG Corporate Finance with over 20 years experience in the technology sector spanning a career in programming, consulting and Mergers & Acquisitions advisory and is now an independent consultant on corporate strategy and corporate finance. Mr Rob Phillips will remain an executive director and Mr Bruce Rathie will remain as a non-executive Director.

Mr Kiely said, “This new board is now well equipped with the right set of skills and injection of capital to exploit the full potential of this groundbreaking technology in the global markets. We expect to see a major transformation of the business to achieve results through a much more disciplined approach to sales and marketing.”

About Uscom

Uscom Limited is an Australian medical device company which was first listed on the Australian Stock Exchange in December 2003. Uscom has developed a Non Invasive Cardiac Output Monitor which measures critical performance indicators of haemodynamics. The USCOM 1A is a simple, cost-effective and non-invasive device that measures heart function, detects irregularities and guides treatment. The USCOM device has major applications in Paediatrics, Emergency Medicine, Intensive Care Units and Anesthesia, and is a potential new standard in the management of adult and paediatric sepsis, and for the guidance of all fluid and drug therapy administration. USCOM has global regulatory approval and the technology is currently marketed in North America, South America, Europe, the Middle East, India and Australia & New Zealand through its distributors in Asia .

Uscom Contacts

Rob Phillips Chief Executive Officer rob@uscom.com.au

Daniel Fah Company Secretary daniel.fah@uscom.com.au