| In connection with the proposed rights offering, Nephros will file a registration statement on Form S-1, as may be amended, with the Securities and Exchange Commission. |
| Nephros is a commercial stage medical device company that develops and sells high performance liquid purification filters. |
| Fox was Executive Chairman of the Board and a director of Nephros, Inc. |
| I am excited to join the management team at Nephros to capitalize on our opportunity to both help patients and reward shareholders for their commitment. |
