pSivida Becomes Founding Member of the NASDAQ Health Care Index

PERTH, Australia--(BUSINESS WIRE)--July 29, 2005--Global nanotechnology company pSivida Limited (ASX:PSD, NASDAQ:PSDV, Xetra:PSI) announced it has been made a founding member of the NASDAQ Health Care Index (IXHC).

The NASDAQ Health Care Index is a market value weighted index that contains NASDAQ-listed companies classified, according to the FTSE Global Classification System, as "Health," "Pharmaceutical" or "Biotechnology." These classifications include health maintenance organizations, hospital management and long-term care, medical equipment and supplies, other health care, biotechnology, and pharmaceutical companies.

“Our inclusion on the Health Care Index is recognition of pSivida's increased visibility in the United States, the world's largest health care and financial market.”

Gavin Rezos, Managing Director of pSivida said, "Our inclusion on the Health Care Index is recognition of pSivida's increased visibility in the United States, the world's largest health care and financial market."

pSivida's inclusion on the NASDAQ Health Care Index is in addition to its listing on the Merrill Lynch Nanotechnology Index announced earlier this year on March 17th.

This announcement follows the appointment this week of two US based Non-executive Directors to the pSivida Board, Dr. David J Mazzo, President and CEO of Chugai Pharma USA and Mr. Michael Rogers, CFO of Indevus Pharmaceuticals Limited.

pSivida Limited

pSivida is a global nanotechnology company committed to the biomedical sector and the development of products in healthcare. The company's focus is the development and commercialization of a modified form of silicon (porosified or nano-structured silicon) known as BioSilicon(TM). As a new and exciting biocompatible material, BioSilicon(TM) offers multiple potential applications across the high growth healthcare sector, including controlled release drug delivery, targeted cancer therapies (including brachytherapy and localized chemotherapy), tissue engineering and orthopedics. Potential diagnostics applications are being developed through its subsidiary AION Diagnostics Limited.

pSivida owns the intellectual property rights to BioSilicon(TM) for use in or on humans and animals. The IP portfolio consists of 26 patent families, 29 granted patents and over 80 patent applications. The core patent, which recognizes BioSilicon(TM) as a biomaterial was granted in the UK in 2000 and in the US in 2001.

The Company's strategic partner and largest shareholder is the QinetiQ group, the largest science and technology company in Europe. QinetiQ is the former UK government Defence Evaluation Research Agency and was instrumental in discovering BioSilicon(TM). pSivida enjoys a strong relationship with QinetiQ having access to its cutting edge research and development facilities. For more information on QinetiQ visit www.qinetiq.com.

For more information visit www.psivida.com

This document contains forward-looking statements that involve risks and uncertainties. Although we believe that the expectations reflected in such forward-looking statements are reasonable at this time, we can give no assurance that such expectations will prove to be correct. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements due to many important factors including: our failure to develop applications for BioSilicon(TM) due to regulatory, scientific or other issues. Other reasons are contained in cautionary statements in the Registration Statement on Form 20-F filed with the U.S. Securities and Exchange Commission, including, without limitation, under Item 3.D, "Risk Factors" therein. We do not undertake to update any oral or written forward-looking statements that may be made by or on behalf of pSivida.

Contacts

Investors:
pSivida Limited
Brian Leedman, + 61 8 9226 5099
brianl@psivida.com
or
US Public Relations:
Martin E. Janis & Company, Inc
Beverly Jedynak, +1 (312) 9 1100 ext. 12
bjedynak@janispr.com

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