19 April 2007

The Company Announcements Office

Australian Securities Exchange

Exchange Centre, 20 Bridge Street

SYDNEY NSW 2000

Dear Sir/Madam

pSivida Limited (pSivida) - Notice Under Section 708A of the Corporations Act 2001 (Cth) (Act)

As previously announced to the Australian Securities Exchange (ASX), following the conversion of certain unlisted convertible notes, pSivida has issued an aggregate of 1,234,570 fully paid ordinary shares (Shares), issued as 123,457 American Depositary Shares on 17 April 2007.

The Shares have been issued without disclosure under Part 6D.2 of the Act, and pSivida gives this notice under section 708A(5)(e) of the Act.

pSivida confirms in relation to the issue of the Shares that, as at the date of this notice:

(a)	pSivida has complied with the provisions of Chapter 2M of the Act as they apply to pSivida;

(b)	pSivida has complied with section 674 of the Act; and

(c)	there is no excluded information within the meaning of sections 708A(7) and 708A(8) of the Act.

Yours faithfully