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Nephros Receives Notice of Intention to Delist from AMEX
Date:1/14/2009

Guide Section 1003(f)(v), which states AMEX will normally consider suspending dealings in, or removing from the list, common stock that sells for a substantial period of time at a low price per share.

AMEX further notified the Company that the Exchange intends to strike the common stock from AMEX by filing a delisting application with the Securities and Exchange Commission pursuant to Rule 1009(d) of the Exchange's Company Guide.

Given the turmoil in the capital markets, the Company has decided to not seek an appeal of AMEX's intention to delist our common stock. The Company has identified a market maker who has agreed to apply for the registration and quotation of our common stock on the OTC Bulletin Board, which we would expect to be effective immediately after the delisting from AMEX.

It is expected that the delisting of the common stock from AMEX would be effective in the first half of February 2009.

About Nephros, Inc.

Nephros, Inc., headquartered in New Jersey, is a medical device company developing and marketing filtration products for therapeutic applications, infection control, and water purification.

The Nephros hemodiafiltration ("HDF") system is designed to improve the quality of life for the End-Stage Renal Disease (ESRD) patient while addressing the critical financial and clinical needs of the care provider. ESRD is a disease state characterized by the irreversible loss of kidney function. The Nephros HDF system removes a range of harmful substances more effectively, and with greater capacity, than existing ESRD treatment methods, particularly with respect to substances known collectively as "middle molecules." These molecules have been found to contribute to such conditions as dialysis-related amyloidosis, carpal tunnel syndrome, degenerative bone disease and, ultimately, mortality in the ESRD patient. Nephros ESRD products are sold and dis
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SOURCE Nephros, Inc.
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