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1.ALERT: Unilife Medical Solutions - Update_on_NASDAQ_listing

NEWSROOM : http://www.proactivenewsroom.com/unilife/

January 15, 2010: 05:18 PM ET
http://money.cnn.com/news/newsfeeds/articles/marketwire/0577518.htm

The Company is now in the process of completing the final steps necessary for the listing of Unilife Corporation on NASDAQ. Subject to the Form 10 registration statement being declared effective by the SEC and Unilife Corporation's NASDAQ listing application being approved, Unilife Corporation expects its common stock to commence trading on NASDAQ on or around 10 February 2010.

The reserved NASDAQ ticker code for Unilife Corporation is "UNIS."

Comment from Unilife Chief Executive Officer, Alan Shortall

"Unilife has now received the final green light needed to complete our redomiciliation from Australia to the United States of America and move to finalising our listing on NASDAQ.

"During this transition period, which will result in Unilife Corporation becoming the trading entity for the Unilife Group, shareholders will need to be conscious of upcoming changes to our ticker codes. On 18 January 2010, our ASX code will change from 'UNI' to 'UNS' and Unilife Corporation CDIs will commence trading on ASX on a deferred settlement basis. From 2 February 2010, CDI trading should commence on a normal T+3 settlement basis.

"For those shareholders electing to retain their Unilife shares on the ASX as CDIs, there will be little apparent change apart from our Australian ticker code. Shareholders choosing to transfer their holdings to shares of Unilife Corporation common stock that will be tradeable on NASDAQ (subject to the application to list on NASDAQ being approved) will have their shares consolidated on a six to one basis. Following the NASDAQ listing, should shareholders wish to trade their shares of Unilife Corporation common stock, they may choose to either convert it back to CDIs or appoint a qualified broker with the capacity to trade in Unilife Corporation common stock on NASDAQ on their behalf."

Timetable to implementation

The Company would also like to take this opportunity to set out the timetable for completion of the redomiciliation:

Event Date
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Federal Court hearing for approval of the Schemes 14 January 2010
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Effective Date of the Schemes 15 January 2010
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Suspension of the Company's shares from trading on ASX 15 January 2010
------------------------------------------------------ -----------------
Unilife Corporation CDIs commence trading on ASX on a
deferred settlement basis 18 January 2010
------------------------------------------------------ -----------------
Record Date for the Schemes 22 January 2010
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Implementation Date for the Schemes 27 January 2010
------------------------------------------------------ -----------------
Despatch of holding statements and transmittal letters 1 February 2010
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CDIs commence trading on normal T+3 basis 2 February 2010
------------------------------------------------------ -----------------
Expected commencement date for listing on NASDAQ 10 February 2010
(subject to SEC
review of Form 10
and approval of
NASDAQ listing
application)
------------------------------------------------------ -----------------
All dates and times are indicative only and are subject to change.
All dates and times are Australian Eastern Daylight Time

About Unilife

Unilife Medical Solutions Ltd. is an ISO 13485 certified company that designs, develops and supplies innovative safety medical devices. Listed on the Australian Securities Exchange (ASX: UNI) since 2002, Unilife has FDA-registered manufacturing facilities in the US State of Pennsylvania and a proprietary portfolio of clinical and prefilled safety syringes designed for use within healthcare and pharmaceutical markets.

Shareholder / Analyst Enquiries:
Australia
Jeff Carter
Phone: + 61 2 8346 6500
United States
Stuart Fine
Phone: + 1 908 469 1788

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