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Unilife Receives SPP Applications Exceeding A$12.8 Million
Date:12/31/2010

ell SPP CDIs into the U.S. or to a U.S. person for a period of six months after the date of issue of the securities unless the re-sale of the securities is registered under the U.S. Securities Act or an exemption is available.

Accordingly, in order to enforce the above transfer restrictions whilst ensuring that shareholders can still trade their CDIs on ASX, the Company has requested that all of its CDIs bear a "FOR US" designation on ASX with effect from 3 December 2010.  

As a result of the imposition of the "FOR US" designation, all shareholders of the Company will be restricted from selling their CDIs on ASX to U.S. persons.  The FOR US designation will remain in place until six months after the date of allotment of CDIs under the Company's SPP which is expected to occur 31 December 2010.  During this period, existing shareholders will still be able to elect to convert existing CDIs acquired prior to 3 December 2010 into shares of common stock and trade on NASDAQ.  However, if investors acquired CDIs under the SPP, or acquired CDIs on market after 3 December 2010 and they convert any such CDIs into common stock, they will receive restricted securities which would not be tradable on NASDAQ for this six month period.

About Unilife CorporationUnilife Corporation is a U.S.-based medical device company focused on the design, development, manufacture and supply of a proprietary range of retractable syringes. Primary target customers for Unilife products include pharmaceutical manufacturers, suppliers of medical equipment to healthcare facilities and patients who self-administer prescription medication. These patent-protected syringes incorporate automatic, operator-controlled needle retraction features which are fully integrated within the barrel, and are designed to protect those at risk of needlestick injuries and unsafe injection practices. Unilife is ISO 13485-certified and has FDA-registered medical device manufacturing
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SOURCE Unilife Corporation
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