Nephros, Inc has assembled a
     uniquely qualified, highly
     motivated and cohesive team.

     We have:
   
     >    Developed innovative products
           with strong market potential.
   
     >    Targeted continuing
           development and marketing
           milestones for the company.
   
     >    Completed animal and bench
           testing for our products.
   
     >    Established high-quality
           manufacturing resources.
   
     >    Filed critical protective and
           defensive patents.


  

    
   
    Nephros  believes  that  identifying,  recruiting  and  maintaining a solid
    management and engineering team are as important as the technology
    itself.  Experience  has  often  revealed  the  challenges  in  "translating"
    ideal clinical needs into a practical commercial product. To this end, we
    have  assembled  a team  with  an  invaluable  combination  of  clinical,
    engineering and dialysis industry backgrounds, and continue to  recruit
    such   individuals.  Thus  Nephros  retains   an  unparalleled  ability   to
    balance clinical and commercial requirements, optimizing products and
    therapies  at very  early   stages   in   the  development   process. With
    extensive  experience  innovating  in  the  medical  device  domain, the
    Nephros  team can ensure  a constant  stream  of new product ideas to
    continually expand our product line.

   
Our Management Team

    Ernest A. Elgin III - President, CEO 


    Mr. Elgin has 20 years of career experience, including solid leadership
    roles  within  large  and  small  organizations.  He  was  most  recently
    Vice  President  of  Business  Development  and  COO  for    Novaflux
    spent   four   years  as  Vice  President,  Healthcare  for  EHC  Group,
    a   New  York  based  consulting  organization   providing  market  and
    business  development  services  for  healthcare related organizations.
    Mr. Elgin has also held  product and  business  development roles with
    Becton  Dickinson,   Olympus  America,  and   E- Z -EM, Inc. Mr. Elgin
    started   his  career  as  a  Financial  Analyst  with  Salomon  Brothers.

    Mr. Elgin  earned  his  Bachelor of  Arts Degree from  Queens College
    and his MBA  from Long Island University.

    Gerald J. Kochanski - Chief Financial Officer

    Mr. Kochanski  is a  Certified Public  Accountant  with over thirty years
    of experience  in  finance  and accounting. With  a strong track  record
    in  growing  companies, he  has  played  a  key role  in  several  major
    corporate  collaborations, successfully  completing  public  and private
    financial  transactions.  Mr. Kochanski  joins  the  company from  Lordi
    Consulting LLC, where he  has served as Director since 2007. Prior to
    his   tenure  at   Lordi,  he  spent  three    years  with  American  Water
    Enterprises, Inc.  as   Chief Financial  Officer and  from  1998  through
    2004  was Chief  Financial Officer for Scanvec  Amiable Limited. Prior
    to 1991, Mr. Kochanski  demonstrated  his  financialand  management
    leadership  at   Gist  -  Brocades   Food   Ingredients,  Inc.,   Keystone
    Franklin,  Inc.  and  Airshields, Inc.  Mr. Kochanski  started  his  career
    in public accounting at Price Waterhouse & Co.
   
    Mr. Kochanski  earned his  Bachelor's  degree  and  MBA  from LaSalle
    University.


    Our Board of Directors

   James S.  Scibetta - Chairman  of  the  Board  - Mr. Scibetta is the
   Chief Financial Officer of  Pacira Pharmaceuticals.  Prior to  Pacira,
   Mr. Scibetta was Chief  Financial Officer of Nasdaq-listed Bioenvision,
   Inc. from December 2006 until its acquisition by Genzyme, Inc. in October
   2007.From September 2001 to November 2006, Mr. Scibetta was EVP
   and CFO of  Merrimack  Pharmaceuticals, Inc., and he was a member of
   the Board of Directors of  Merrimack  from April 1998 to March 2004.
   Mr. Scibetta formerly served as a senior investment banker at  Shattuck
   Hammond Partners, LLC  from 1997 to 2001 and Paine Webber Inc.
   from 1988 to  1997, providing capital acquisition, mergers and
   acquisitions,and strategic advisory services to healthcare companies.
   From 2001 to 2008, Mr.Scibetta served as a member of the Board of
   Directors and Audit Committee Chairman of Labopharm, Inc.(Nasdaq: DDSS).
   Mr. Scibetta holds a B.S. in Physics from Wake Forest University,
   and an M.B.A. in  Finance  from  the University of Michigan.He completed
   executive education studies in the  Harvard Business School Leadership
   & Strategy  in  Pharmaceuticals and Biotechnology program.

   Lawrence  J. Centella  - Mr. Centella serves as president of Renal
   Patient Services, LLC. a company that owns and operates dialysis
   centers, and has served in this capacity since June 1998. From 1997-
   1998, Mr. Centella served as executive vice president and chief operating
   officer of Gambro Healthcare, Inc., an integrated dialysis company that
   manufactured dialysis equipment, supplied dialysis equipment and
   operated dialysis clinics. From 1993 to 1997, Mr. Centella served as
   president and chief executive officer of Gambro Healthcare Patient Services
   Inc. Prior to that, Mr. Centella served as president of COBE Renal Care, Inc,
   Gambro-Hospal, Inc, LADA International, Inc and Gambro, Inc. Mr. Centella
   is also the founder of LADA International, Inc. Mr. Centella received a BS
   from DePaul University.


   Paul A. Mieyal - Dr.Mieyal is a Vice President and  the Director of Life
   Sciences  Investments  of Wexford  Capital LLC. Prior  to that, he was
   Vice  President  in charge of health care investments  for  Wechsler &
   Co.,  Inc. a  private  investment firm and  registered  broker dealer.  Dr.
   Mieyal serves as director of Nile Therapeutics, Inc.,and several private
   companies. Dr.  Mieyal  received his Ph.D. in pharmacology from New
   York Medical College, a B.A. in  chemistry and  psychology from Case
   Western  Reserve  University, and  is  a  Chartered  Financial  Analyst.

   Arthur H. Amron  -  Mr. Amron  is  a  partner  of  Wexford  Capital and
   serves  as  its  General  Counsel. He  actively  participates  in various
   private    equity   transactions,   particularly  in   the   bankruptcy   and
   restructuring  areas, and  has  served  on  the  board committees of a
   number  of public  and private  companies  in which Wexford has held
   investments. Mr. Amron holds  a JD  from  Harvard  University,  a B.A.
   in  political  theory  from Colgate  University, and  is  a member of the
   New York bar.

   Ernest A. Elgin III - Mr. Elgin has 20 years of career experience, including
  
solid leadershiproles  within  large  and  small  organizations.  He  was
  
most recently Vice  President  of  Business  Development  and  COO for
  
Novaflux spent   four   years  as  Vice  President,  Healthcare  for  EHC 
  
Group, a   New  York  based  consulting  organization   providing  market 
   and business  development  services  for  healthcare related organizations. 
   Mr. Elgin has also held  product and  business  development roles with
   Becton  Dickinson,   Olympus  America,  and   E- Z -EM, Inc. Mr. Elgin 
   started   his  career  as  a  Financial  Analyst  with  Salomon  Brothers. 

   Mr. Elgin  earned  his  Bachelor of  Arts Degree from  Queens College 
   and his MBA  from Long Island University.


  Scientific Advisory Board  

   John T. Daugirdas, MD - University  of  Illinoisat  Chicago School of 
   Medicine Associate. Chief of Staff for Research and Development,
  
VA Chicago - Westside Medical Center.  Co-author The  Handbook
   of Dialysis.

   Detlef  Krieter,  MD - Fellow   at  the  University   of   Goettingen  and
   University of Wuerzburg, Germany, and University of Montpellier and
   Renal    Research   and   Training    Institute,    Montpellier,   France;
   consultant   at  the  Nephrology  Center of  Lower Saxony, Germany.
   Active  researcher  in the  field o f extracorporeal  renal replacement
   therapies.

   Leonard Stern, MD FACP - Medical Director at Columbia University
   Dialysis  Center,   an   Assistant   Professor  of   Clinical   Medicine,
   Columbia University, College of Physician and Surgeons.

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