COMPANY FAQ'S

1. What is Nephros?
2. What if I have more specific questions about the Company’s technology?
3. When was Nephros founded?
4. Is Nephros on a calendar fiscal year?
5. Does Nephros pay cash dividends?
6. When did Nephros go public?
7. Where is it incorporated?
8. How many employees does Nephros have?
9. Who is Nephros’ independent accountant?

STOCK FAQ'S

1. Where is Nephros’ stock listed? What is Nephros’ ticker symbol?
2. Where can I purchase stock? Can I purchase it directly from Nephros?
3. Who is the stock transfer agent? How do I change my address/name on the stock certificate or find out how many shares I have?

COMPANY FAQ'S

1. What is Nephros?
Nephros has developed the most effective End Stage Renal Disease (ESRD) therapy available worldwide, offering unique and proprietary technologies that dramatically improve clinical efficacy. Nephros technologies also remove a range of harmful substances not currently removed by existing dialysis methods; addressed specifically are substances known collectively as middle molecules, due to their molecular weight, that contribute to such conditions as carpal tunnel syndrome, dialysis related amyloidosis, and degenerative bone disease in the ESRD patient.

2. What if I have more specific questions about the Company’s technology?
For more information about Nephros technology click here.

3. When was Nephros founded?
Nephros, Inc. was founded in 1997 by Columbia University health professionals, scientists and engineers to improve the quality of life for the End Stage Renal Disease (ESRD) patient, while addressing the critical needs of the care provider.

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4. Is Nephros on a calendar fiscal year?
Yes, the fiscal year-end for Nephros is December 31st.

5. Does Nephros pay cash dividends?
No, Nephros has never paid a cash dividend. While subject to periodic review, the current policy of Nephros’ Board is to retain all earnings primarily to provide funds for continued growth of the company.

6. When did Nephros go public?
Nephros’ initial public offering occurred on September 24, 2004 at a price of $6.00 per share.

7. Where is it incorporated?
The Company was incorporated in the state of Delaware on April 3, 1997.

8. How many employees does Nephros have?
As of January 1, 2004, we employed a total of seventeen employees, fifteen of whom were full time and two of whom were employed on a consulting basis or part-time. These seventeen employees were distributed among our various operating departments as follows:

Department	Number of Employees:
Research and Development	6
General and Administrative	4
Customer Service	3
Marketing and Sales	2
Quality Systems	1
Clinical Services Director	1

9. Who is Nephros’ independent accountant?
Nephros’ independent accountant is Deloitte & Touche LLP.

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STOCK FAQ'S
10. Where is Nephros’ stock listed? What is Nephros’ ticker symbol?
Nephros is traded on the American Stock Exchange under the symbol NEP.

11. Where can I purchase stock? Can I purchase it directly from Nephros?
You can purchase shares of Nephros stock through a brokerage of your choice, including Internet-based and discount brokers. Nephros does not have a Direct Purchase Plan.

12. Who is the stock transfer agent? How do I change my address/name on the stock certificate or find out how many shares I have?
Continental Stock Transfer & Trust Company performs the transfer agent responsibilities for Nephros.

Continental Stock Transfer & Trust Company
17 Battery Place
New York, NY 10004

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