<SUBMISSION>
<ACCESSION-NUMBER>0001144204-05-002196
<TYPE>6-K
<PUBLIC-DOCUMENT-COUNT>3
<PERIOD>20050125
<FILING-DATE>20050125
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>pSivida LTD
<CIK>0001314102
<ASSIGNED-SIC>8880
<IRS-NUMBER>000000000
<STATE-OF-INCORPORATION>C3
<FISCAL-YEAR-END>0630
</COMPANY-DATA>
<FILING-VALUES>
<FORM-TYPE>6-K
<ACT>34
<FILE-NUMBER>000-51122
<FILM-NUMBER>05546912
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>LEVEL 12 BGC CENTRE
<STREET2>28 THE ESPLANADE
<CITY>PERTH
<STATE>C3
<ZIP>6000
<PHONE>61 8 9226 5099
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>LEVEL 12 BGC CENTRE
<STREET2>28 THE ESPLANADE
<CITY>PERTH
<STATE>C3
<ZIP>6000
</MAIL-ADDRESS>
</FILER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>v011631.htm
<TEXT>
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Unassociated Document
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 14pt; FONT-FAMILY: Times New Roman, serif"><STRONG>SECURITIES AND EXCHANGE COMMISSION</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Washington, D.C. 20549</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 18pt; FONT-FAMILY: Times New Roman, serif"><STRONG>FORM 6-K</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">REPORT OF FOREIGN ISSUER</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Pursuant to Rule 13a-16 or 15d-16 of</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">the Securities Exchange Act of 1934</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>For the month of January 2005</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>Commission File Number 000-5112</STRONG></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">2</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 21pt; FONT-FAMILY: Times New Roman"><STRONG>pSivida Limited</STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(Translation of registrant&#146;s name into English) </FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Level 12 BGC Centre</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">28 The Esplanade</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Perth WA 6000</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(Address of principal executive offices)</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">(Indicate by check mark whether the registrant files or will file annual reports under cover Form&nbsp;20-F or Form&nbsp;40-F). </FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Form 20-F </FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">&#253;</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form 40-F </FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule&nbsp;12g3-2(b) under the Securities Exchange Act of 1934.</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Yes </FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">o</FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;No </FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Wingdings">&#253;</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule&nbsp;12g3-2(b): 82- ___. </FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>SIGNATURE </STRONG></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant, pSivida Limited, has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. </FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Date: January 25, 2005</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 207pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">pSivida Limited</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 207pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">By:&nbsp; <U>/</U></FONT><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><U>s/ Aaron Finlay&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 225pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 100.65pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">Aaron Finlay</FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 225pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><EM>Chief Financial Officer and Company Secretary</EM></FONT></DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV><BR>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=justify>&nbsp;</DIV>
<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=center><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG><EM><U>EXHIBIT INDEX</U></EM></STRONG></FONT></DIV>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif"><STRONG>EXHIBIT 99.1:</STRONG></FONT></DIV></TD>
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<DIV style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt" align=left><FONT style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman, serif">pSivida Limited Press Release, dated January 24, 2005 (ADSs Slated to Commence Trading)</FONT></DIV></TD></TR></TABLE></DIV>
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<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>ex99.htm
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<B><FONT face="sans-serif"><br>
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&nbsp;</FONT></B></P>
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<B><FONT face="sans-serif">25</FONT></B><B><SUP><FONT face="sans-serif">th</FONT></SUP></B><B><FONT face="sans-serif"> January 2005</FONT></B>
</P>
<P>
<B><FONT face="sans-serif">ASX/MEDIA RELEASE</FONT></B>
</P>
<P>
<B><FONT size=6 face="sans-serif">ADSs Slated to Commence Trading <br>
</FONT><U><FONT face="sans-serif">Citigroup selected as Depositary Bank for National Market Level II ADR </FONT></U></B>
</P>
<P>
<FONT size=2 face="sans-serif">Global nanotechnology company pSivida Limited </FONT><B><FONT size=2 face="sans-serif">(ASX: PSD)</FONT></B><FONT size=2 face="sans-serif">, is pleased to announce that its U.S. securities registration has been
declared effective and it has received preliminary approval from NASDAQ for the listing of its American Depositary Shares (ADSs) represented by American Depositary Receipts (ADRs) on the NASDAQ National Market. The Company has also selected
Citigroup as it Depositary Bank to administer the ADR programme. </FONT>
</P>
<P>
<FONT size=2 face="sans-serif">pSivida expects its ADSs to commence trading on NASDAQ&#146;s National Market on Thursday 27</FONT><SUP><FONT size=2 face="sans-serif">th</FONT></SUP><FONT size=2 face="sans-serif"> January 2005 under the ticker symbol
</FONT><B><FONT size=2 face="sans-serif">PSDV</FONT></B><FONT size=2 face="sans-serif">. The ADSs will trade on a 10:1 ratio to the Company&#146;s ordinary shares (i.e., 10 pSivida shares for every 1 ADR).  pSivida&#146;s ordinary shares will
continue to trade on the Australian and Frankfurt Stock Exchanges.</FONT>
</P>
<P>
<FONT size=2 face="sans-serif">pSivida Managing Director, Mr. Gavin Rezos said, &#147;The NASDAQ listing will be an important step forward for pSivida as it looks to achieve success in the world&#146;s largest market in terms of capital and
pharmaceutical products.  We are actively looking to expand our investor base in the U.S. and are very pleased to appoint Citigroup as our Depositary Bank.&#148;</FONT><B><FONT size=2 face="sans-serif"> </FONT></B>
</P>
<P>
<FONT size=2 face="sans-serif">Citigroup Depositary Receipt Services is a market leader in bringing quality issuers to the U.S. and international markets and promoting Depositary Receipts as an effective capital markets tool.  The appointment of
Citigroup Depositary Receipt Services provides pSivida with a gateway to the resources of Citigroup and the means to diversify its shareholder bases and increase liquidity.</FONT>
</P>
<P>
<FONT size=2 face="sans-serif">Importantly the listing will offer access to U.S. investors that are currently prohibited or limited in owning foreign securities or who only invest in companies that publish results computed in accordance with US
GAAP.</FONT>
</P>
<P>
<FONT size=2 face="sans-serif">pSivida is a global nanotechnology company committed to the biomedical sector and the development of products in healthcare. The company&#146;s focus is the development and commercialisation of a modified form of
silicon (porosified or nano-structured silicon) known as BioSilicon&#153;.  As a new and exciting biocompatible and biodegradable material, BioSilicon offers multiple potential applications across the high growth healthcare sector, including
controlled release drug delivery, targeted cancer therapies (including brachytherapy and localized chemotherapy), tissue engineering and orthopedics. Potential diagnostics applications are being developed through its subsidiary AION Diagnostics
Limited.</FONT>
</P>
<P>
<FONT size=2 face="sans-serif">pSivida plans to hold a series of informational meetings in the U.S. during February and March for investors and potential investors. </FONT>
</P>
<P>
<FONT size=2 face="sans-serif">For more information about Citigroup and ADRs please see Notes to Editors.</FONT><B><FONT size=2 face="sans-serif"> </FONT></B><B><FONT face="sans-serif"> </FONT></B>
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<B><FONT face="sans-serif">-ENDS- </FONT></B>
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<B><FONT size=2 face="sans-serif">Released by: </FONT></B>
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<P>
<FONT size=2 face="sans-serif">Josh Mann </FONT>
</P>
<P>
<FONT size=2 face="sans-serif">Investor Relations pSivida Limited Tel: + 61 8 9226 5099 joshuamann@psivida.com </FONT>
</P>
<P>
<B><FONT size=2 face="sans-serif">NOTES TO EDITORS: </FONT></B>
</P>
<P>
<B><FONT size=2 face="sans-serif">pSivida Limited </FONT></B><FONT size=2 face="sans-serif">pSivida owns the intellectual property rights to BioSilicon, royalty free for use in or on humans and animals. The IP portfolio consists of 24 patent
families, 26 granted patents and over 80 patent applications.  The core patent, which recognises BioSilicon as a biomaterial was granted in the UK in 2000 and in the US in 2001.</FONT>
</P>
<P>
<FONT size=2 face="sans-serif">pSivida is listed on the Australian Stock Exchange (</FONT><B><FONT size=2 face="sans-serif">ASX Code: PSD</FONT></B><FONT size=2 face="sans-serif">) and in Germany on the Frankfurt Stock Exchange on the XETRA system
(</FONT><B><FONT size=2 face="sans-serif">German</FONT></B><FONT size=2 face="sans-serif"> </FONT><B><FONT size=2 face="sans-serif">Symbol: PSI. Securities Code (WKN) 358705</FONT></B><FONT size=2 face="sans-serif">). pSivida&#146;s shares also
trade in the United Kingdom on the OFEX International Market Service (IMS) under the ticker symbol </FONT><B><FONT size=2 face="sans-serif">PSD</FONT></B><FONT size=2 face="sans-serif">. </FONT>
</P>
<P>
<FONT size=2 face="sans-serif">The Company&#146;s strategic partner and largest shareholder is the QinetiQ group, the largest science and technology company in Europe.  QinetiQ is the former UK government Defence Evaluation Research Agency and was
instrumental in discovering BioSilicon. pSivida enjoys a strong relationship with QinetiQ having access to its cutting edge research and development facilities.  For more information on QinetiQ visit </FONT><U><FONT color="#0000ff" size=2
face="sans-serif">www.qinetiq.com</FONT></U><FONT size=2 face="sans-serif">. </FONT>
</P>
<P>
<FONT size=2 face="sans-serif">pSivida has an established presence in the U.S. having undertaken collaborative partnerships with the University of Pittsburgh, NanoHorizons Inc, Texas Christian University and Purdue University.</FONT>
</P>
<P>
<FONT size=2 face="sans-serif">pSivida has a strong management team with a powerful blend of international experience in biotechnology commercialization, the pharmaceutical industry, licensing and capital markets: </FONT>
</P>
<UL>
<LI><B><FONT size=2 face="sans-serif">Mr Gavin Rezos, Managing Director &#150; </FONT></B><FONT size=2 face="sans-serif">a former Investment Banking Director of the HSBC Group.</FONT><BR></LI>
<LI><B><FONT size=2 face="sans-serif">Dr Roger Brimblecombe, Non Executive Chairman </FONT></B><FONT size=2 face="sans-serif">- former Chairman of SmithKline</FONT><BR><FONT size=2 face="sans-serif">&amp;</FONT>&nbsp;<FONT size=2
face="sans-serif">French Research and Chairman of MVM Ventures.</FONT><BR></LI>
<LI><B><FONT size=2 face="sans-serif">Dr Roger Aston, Director Strategy </FONT></B><FONT size=2 face="sans-serif">&#150; former CEO PepTech Ltd and Director of Cambridge Antibody Technology Ltd (UK).</FONT><BR></LI>
<LI><B><FONT size=2 face="sans-serif">Professor Leigh Canham, Chief Scientific Officer </FONT></B><FONT size=2 face="sans-serif">&#150; a DERA fellow and the world&#146;s foremost authority on porous silicon and the inventor of
BioSilicon&#153;.</FONT><BR></LI>
<LI><B><FONT size=2 face="sans-serif">Dr Anna Kluczewska, Managing Director, AION Diagnostics </FONT></B><FONT size=2 face="sans-serif">&#150; a former Global Product Manager with Baxter Healthcare Inc, based in Europe.</FONT><BR></LI>
</UL>
<P>
<FONT size=2 face="sans-serif">For more information visit </FONT><U><FONT color="#0000ff" size=2 face="sans-serif">www.psivida.com</FONT></U><FONT size=2 face="sans-serif"> </FONT>
</P>
<P>
<B><FONT size=2 face="sans-serif">Citigroup Depository Receipt Services </FONT></B><FONT size=2 face="sans-serif"> </FONT>
</P>
<P>
<FONT size=2 face="sans-serif">Citigroup Depositary Receipt Services is a market leader in bringing quality issuers to the U.S. and international markets and promoting Depositary Receipts as an effective capital markets tool. Citibank began offering
ADRs in 1928 and today is widely recognized for providing non-U.S. companies with a gateway to the resources of Citigroup and the means to diversify their shareholder bases and increase liquidity. In addition, Citigroup's financial strength and
global presence provides clients with access to on-the-ground presence and in-depth knowledge of 90 local markets.</FONT>
</P>
<P>
<FONT size=2 face="sans-serif"> For additional information visit </FONT><U><FONT color="#0000ff" size=2 face="sans-serif">www.transactionservices.citigroup.com</FONT></U><FONT size=2 face="sans-serif"> </FONT>
</P>

<HR noshade align="center" width="100%" size=2>


<A name="page_3"></A>

<P>
<B><FONT size=2 face="sans-serif">American Depository Receipts (ADRs) </FONT></B>
</P>
<P>
<FONT size=2 face="sans-serif">ADRs are commonly used to facilitate US investors investing in foreign companies which do not directly list their securities in the U.S.  Some US investors, particularly certain domestic mutual funds, are prohibited
from investing directly in foreign securities, and ADRs which are issued by a U.S. Depositary Bank provide a mechanism for them to invest in foreign securities. </FONT>
</P>
<P>
<FONT size=2 face="sans-serif">An ADR is created when a broker purchases the Company&#146;s shares on the home stock market and delivers those shares to the Depository Bank to issue Depository Receipts.</FONT>
</P>
<P>
<FONT size=2 face="sans-serif">For additional information regarding the terms of our ADSs, please see our registration statement. </FONT>
</P>
<P>
<I><FONT size=1 face="sans-serif">A registration statement relating to these securities has been filed with the Securities Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any
securities. You should refer to our registration statement for more complete information concerning the company and its business.  The registration statement is available at the SEC's website: </FONT></I><I><U><FONT color="#0000ff" size=1
face="sans-serif">www.sec.gov</FONT></U></I><I><FONT size=1 face="sans-serif">. </FONT></I>
</P>
<P>
<I><FONT size=1 face="sans-serif">This document contains forward-looking statements that involve risks and uncertainties including with respect to the the commencement of trading of pSivida's ADSs, the expansion of pSivida's investor base in the
U.S. and the development and commercialisation of BioSilicon. Although we believe that the expectations reflected in such forward-looking statements are reasonable at this time, we can give no assurance that such expectations will prove to be
correct. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements due to many important factors
including: regulatory issues involving the SEC and/or the NASDAQ Stock Market, including without limitation the SEC or NASDAQ reopening review of pSivida's registration statement or listing application; pSivida's failure to take the remaining steps
necessary to complete the listing on the NASDAQ National Market, including pSivida's inability to meet NASDAQ's initial or continuing listing requirements. In addition, investors may not purchase ADSs on the market and an active trading market for
the ADSs may not develop or be maintained after listing. Further, many important factors could negatively impact pSivida's business results including: (1) the failure of certain product markets to develop as expected including due to global economic
conditions or alternate remedies being discovered; (2) the company's failure to complete its current or future clinical trials successfully because of problems with funding, the performance of its product or its partners; (3) the company's failure
to achieve product approvals on a timely basis if at all as a result of regul atory, funding or other  issues and (4) the failure of the company's current and potential products to perform as expected due to unknown factors involving their use.
Other reason are contained in cautionary statements in the Registration Statement on Form 20-F filed with the U.S. Securities and Exchange Commission, including, without limitation, under Item 3.D, "Risk Factors" therein. We do not undertake to
update any oral or written forward-looking statements that may be made by or on behalf of pSivida. </FONT></I>
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