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NSP Maiden $3.29m Net Profit

NuSep (NSP), a life sciences company with a 30 year heritage in biological separations and the developer of the IVF SpermSep, has produced a maiden $3.29 million net profit for the year to 30th June 2010. This result represents a $6M turnaround from a loss of $2.71m for the previous 12 months. This $3.29m Net Profit represents earnings per share of 5.7¢ on a fully diluted basis. NuSep’s Total Equity has also increased to $12.8m which represents an increase of $13.1m compared to results from the previous financial year. Total Equity is now 22.4¢ per share on a fully diluted basis compared to negative 17.3¢ per share as at 30 June 2009. Significantly, the operational profit for the period was $897,592 and only includes 1 month of the recently acquired BioInquire business. The company’s results are ahead of 2010 projections and are directly attributable to the combined efforts of NuSep’s management and staff. “These results represent a remarkable turnaround for this company and establishes NuSep as a major biotechnology player in the scientific consumables market,” said Mr John Manusu, Executive Chairman of NuSep. Dr Hari Nair, NuSep’s Managing Director added, “Fundamentally, the impressive performance of this company over the last year has set the company up to achieve its ambitious goals.” The Company reaffirms its forward projections for the 2011 year. As previously announced NuSep is undertaking a buyback of its shareholders who hold less than $100 of shares. In order that these shareholders may make an informed decision the Company is also holding the following two investor presentations: Sydney Tuesday 17th August 2010 at 12 noon Level 18, 133 Castlereagh St Sydney Melbourne Wednesday 18th August 2010 at 12 noon Level 26, 530 Collins St Melbourne.