<SUBMISSION>
<ACCESSION-NUMBER>0001144204-05-012453
<TYPE>6-K
<PUBLIC-DOCUMENT-COUNT>3
<PERIOD>20050422
<FILING-DATE>20050422
<DATE-OF-FILING-DATE-CHANGE>20050422
<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>pSivida LTD
<CIK>0001314102
<ASSIGNED-SIC>3826
<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>05765920
</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>v016785_6k.htm
<TEXT>
<HTML><HEAD>
<TITLE>
Unassociated Document
</TITLE>
<!-- Licensed to: Vintage Filings-->
<!-- Document Created using EDGARIZER HTML -->
<!-- Copyright 2004 EDGARfilings, Ltd., an IEC company.-->
<!-- All rights reserved EDGARfilings.com -->
</HEAD><BODY id=38 bgColor=#ffffff>
<DIV><BR>
<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: 12pt; FONT-FAMILY: Times New Roman"><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"><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"><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">REPORT OF
FOREIGN ISSUER<BR></FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Pursuant
to Rule 13a-16 or 15d-16 of<BR></FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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"><STRONG>For
the month of April 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"><STRONG>Commission
File Number 000-5112</STRONG></FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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: 12pt; FONT-FAMILY: Times New Roman"><STRONG>pSivida
Limited<BR></STRONG></FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(Translation
of registrant&#8217;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=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">Level 12
BGC Centre<BR></FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">28 The
Esplanade<BR></FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Perth WA
6000<BR></FONT><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">(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">(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><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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">&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><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 36pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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">&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><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"></FONT>&nbsp;</DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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=justify>&nbsp;</DIV>
<DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=FTR>
<DIV id=GLFTR style="WIDTH: 100%" align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV>
<DIV id=PN style="PAGE-BREAK-AFTER: always">
<DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt" face="Times New Roman"></FONT></DIV>
<DIV style="WIDTH: 100%; TEXT-ALIGN: center">
<HR color=#000000 noShade SIZE=2>
</DIV></DIV>
<DIV id=HDR>
<DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV></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"><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=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">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>
<TABLE cellSpacing=0 cellPadding=0 width="100%" align=center bgColor=#ffffff
border=0>
  <TR vAlign=top bgColor=#ffffff>
    <TD width="50%"><FONT face="Times New Roman" size=2>Date: April 22,
      2005</FONT></TD>
    <TD width="1%"><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD>
    <TD width="49%"><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD></TR>
  <TR vAlign=top bgColor=#ffffff>
    <TD><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD>
    <TD colSpan=2><FONT face="Times New Roman" size=2>pSivida
  Limited</FONT></TD></TR>
  <TR vAlign=top bgColor=#ffffff>
    <TD><FONT face="Times New Roman" size=2>&nbsp;<BR>&nbsp;</FONT></TD>
    <TD><FONT face="Times New Roman" size=2>&nbsp;<BR>&nbsp;</FONT></TD>
    <TD><FONT face="Times New Roman" size=2>&nbsp;<BR>&nbsp;</FONT></TD></TR>
  <TR vAlign=top bgColor=#ffffff>
    <TD><FONT face="Times New Roman" size=2></FONT></TD>
    <TD><FONT face="Times New Roman" size=2>By:&nbsp;&nbsp;</FONT></TD>
    <TD><FONT face="Times New Roman" size=2>/s/&nbsp;Aaron Finlay</FONT></TD></TR>
  <TR vAlign=top bgColor=#ffffff>
    <TD colSpan=2><FONT face="Times New Roman" size=1>&nbsp;</FONT></TD>
    <TD align=left>
      <HR align=left width="80%" color=#000000 noShade SIZE=2>
    </TD></TR>
  <TR vAlign=top bgColor=#ffffff>
    <TD colSpan=2><FONT face="Times New Roman" size=2>&nbsp;</FONT></TD>
    <TD><FONT face="Times New Roman" size=2><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Aaron
      Finlay<BR></FONT><FONT
      style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><EM>Chief
      Financial Officer and Company
Secretary</EM></FONT>&nbsp;</FONT></TD></TR></TABLE></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 id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=FTR>
<DIV id=GLFTR style="WIDTH: 100%" align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV>
<DIV id=PN style="PAGE-BREAK-AFTER: always">
<DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt" face="Times New Roman">-2-</FONT></DIV>
<DIV style="WIDTH: 100%; TEXT-ALIGN: center">
<HR color=#000000 noShade SIZE=2>
</DIV></DIV>
<DIV id=HDR>
<DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=justify><FONT size=2></FONT>&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"><STRONG><EM><U>EXHIBIT
INDEX</U></EM></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>
<TABLE cellSpacing=0 cellPadding=0 width="100%">
  <TR>
    <TD vAlign=top align=left width="15%">
      <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"><STRONG>EXHIBIT
      99.1:</STRONG></FONT></DIV></TD>
    <TD vAlign=top align=left width="62%">
      <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">pSivida
      Quarterly Cashflow - March 2005 Commentary and Highlights</FONT><FONT
      style="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman, serif"><SUP>&nbsp;</SUP></FONT></DIV></TD></TR>
  <TR>
    <TD vAlign=top align=left width="15%">&nbsp;</TD>
    <TD vAlign=top align=left width="62%">&nbsp;</TD></TR></TABLE></DIV>
<DIV
style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
align=left><BR></DIV>
<DIV>&nbsp;</DIV>
<DIV>&nbsp;</DIV>
<DIV id=PGBRK style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
<DIV id=FTR>
<DIV id=GLFTR style="WIDTH: 100%" align=left><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV>
<DIV id=PN>
<DIV style="WIDTH: 100%; TEXT-ALIGN: center"><FONT
style="DISPLAY: inline; FONT-SIZE: 10pt" face="Times New Roman">-3-</FONT></DIV>
<DIV style="WIDTH: 100%; TEXT-ALIGN: center">
<HR color=#000000 noShade SIZE=2>
</DIV></DIV>
<DIV id=HDR>
<DIV id=GLHDR style="WIDTH: 100%" align=right><FONT
style="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV></DIV></DIV></BODY></HTML>

</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v016785_ex99-1.htm
<TEXT>
<HTML>
  <HEAD>
         <TITLE></TITLE>
  </HEAD>
  <BODY ID="38" BGCOLOR="#ffffff">
         <DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="left">&nbsp;</DIV>
                <DIV ALIGN="center">
                  <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BGCOLOR="#ffffff">
                         <TR BGCOLOR="#ffffff">
                                <TD WIDTH="100%">
                                  <DIV
                                        STYLE="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
                                        ALIGN="right"><IMG SRC="logo.gif" ALIGN="RIGHT" WIDTH="142" HEIGHT="70"
                                         BORDER="0"></DIV></TD>
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                  </TABLE></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="left"><STRONG><FONT SIZE="2"></FONT></STRONG>&nbsp;</DIV>
                <DIV ALIGN="center">
                  <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BGCOLOR="#ffffff">
                         <TR BGCOLOR="#ffffff">
                                <TD WIDTH="50%"><STRONG><FONT SIZE="2">ASX
                                  RELEASE</FONT></STRONG></TD>
                                <TD WIDTH="50%">
                                  <DIV
                                        STYLE="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt"
                                        ALIGN="right"><STRONG><FONT SIZE="2">22nd April 2005</FONT></STRONG></DIV></TD>
                         </TR>
                  </TABLE></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="center"><FONT ID="TAB2"
                  STYLE="COLOR: black; LETTER-SPACING: 161.1pt">&nbsp;</FONT><FONT ID="TAB2"
                  STYLE="COLOR: black; LETTER-SPACING: 0.9pt">&nbsp;</FONT><FONT ID="TAB2"
                  STYLE="COLOR: black; LETTER-SPACING: 27pt">&nbsp;</FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>&nbsp;</STRONG></FONT><FONT
                  ID="TAB2" STYLE="COLOR: black; LETTER-SPACING: 27pt">&nbsp;</FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>&nbsp;</STRONG></FONT><FONT
                  ID="TAB2" STYLE="COLOR: black; LETTER-SPACING: 27pt">&nbsp;</FONT><BR><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 12pt; FONT-FAMILY: Times New Roman"><STRONG>pSivida
                  Quarterly Cashflow - March 2005</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: 12pt; FONT-FAMILY: Times New Roman"><STRONG>Commentary
                  and Highlights</STRONG></FONT></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="left">
                  <DIV>
                         <HR ALIGN="center" WIDTH="100%" COLOR="#000000" NOSHADE="NOSHADE" SIZE="1">
                         </DIV><BR></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Global
                  nanotechnology company pSivida Limited, is pleased to release its quarterly
                  cashflow statement for the quarter ending 31 March 2005. </FONT></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="left"><BR></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: 12pt; FONT-FAMILY: Times New Roman"><STRONG>Highlights
                  and Announcements for the Quarter</STRONG></FONT></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><BR></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Further
                  Positive Results for Phase IIa BrachySil</STRONG></FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman, serif"><SUP><STRONG>TM</STRONG></SUP></FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>
                  trial in Liver Cancer </STRONG></FONT></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In
                  February pSivida announced interim results for the second group of 4 patients,
                  12 weeks after their BrachySil&#153; treatment, revealing an average tumor
                  regression by volume of 80% as determined by CT scanning. In some smaller
                  tumors 100% regression was observed, a level of performance not seen with other
                  intratumoral approaches. The study also demonstrated that there were no
                  product-related adverse effects. Final results from the trial are expected to
                  be announced to the market in June.</FONT></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><BR></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Key
                  Milestone in Production Scale up for BrachySil</STRONG></FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman, serif"><SUP><STRONG>TM</STRONG></SUP></FONT></DIV>

                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A key
                  milestone in the scale-up and manufacture of its lead product
                  BrachySil</FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Arial, sans-serif"><SUP>TM</SUP></FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> was
                  achieved during the quarter with UK manufacturing partner, Atomising Systems
                  Ltd, completing construction of a state of the art dedicated cleanroom facility
                  to GMP specifications. The facility provides for increased BrachySil&#153;
                  production in support of both larger clinical trials for advanced liver cancer
                  and new Phase IIa trials for pancreatic cancer planned for later this year, and
                  future commercialisation. </FONT></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><BR></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>pSivida
                  added to Merrill Lynch Nanotechnology Index</STRONG></FONT></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">In March
                  pSivida was added to the Merrill Lynch Nanotechnology Index and is now one of
                  nine companies that comprise the 27 on the index involved in nano-biotech.
                  Criteria for inclusion in the Merrill Lynch Nanotechnology Index are companies
                  in which nanotechnology initiatives represent a significant component of their
                  future business strategy. The companies that are included must be listed on a
                  national exchange or quoted on the NASDAQ National Market or NASDAQ Small
                  Market. </FONT></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><BR></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>PureTech
                  - Future Out-licensing of BioSilicon</STRONG></FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman, serif"><SUP><STRONG>TM</STRONG></SUP></FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>
                  in Tissue Engineering &amp; Orthopedics</STRONG></FONT></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">pSivida
                  has commissioned PureTech to explore with suitable partners, arrangements for
                  evaluating the potential of BioSilicon</FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Arial, sans-serif"><SUP>TM</SUP></FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> for
                  future out-licensing opportunities in non-core applications such as tissue
                  engineering, wound management and orthopedics. It is expected that in due
                  course, revenue in the form of upfront and milestone payments would flow to
                  pSivida as BioSilicon</FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Arial, sans-serif"><SUP>TM</SUP></FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> based
                  products are developed and commercialized. Through a range of collaborative
                  partnerships and internal R&amp;D over the last four years, pSivida has
                  developed the BioSilicon</FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Arial, sans-serif"><SUP>TM</SUP></FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Arial, sans-serif"><SUP><STRONG>&nbsp;</STRONG></SUP></FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">technology
                  platform in these non-core areas and is now in a position, in line with the
                  Company&#146;s broader commercialization strategy, to seek suitable partners in
                  these specialist areas of healthcare.</FONT></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><BR></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>pSivida
                  lists on NASDAQ&#146;s National Market</STRONG></FONT></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">On
                  January 27</FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 8pt; FONT-FAMILY: Times New Roman, serif"><SUP>th</SUP></FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> pSivida
                  listed on NASDAQ&#146;s National Market via a Level II American Depositary
                  Receipts (ADR) programme. A series of presentations by senior company
                  executives were undertaken in the US during February and March. pSivida has
                  </FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">16
                  market makers on NASDAQ making a market in its ADR including UBS, JP Morgan,
                  Fidelity, CSFB, Brean Murray, Charles Schwab, Citigroup, Bear Stearns, Punk
                  Ziegel, Park Financial Group, Jefferies and Maxim. Liquidity in the ADR is
                  increasing as the awareness of the Company builds in the US. </FONT></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT SIZE="2"></FONT>&nbsp;</DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT SIZE="2"></FONT>&nbsp;</DIV>
                <DIV ID="PGBRK"
                 STYLE="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
                  <DIV ID="FTR">
                         <DIV ID="GLFTR" STYLE="WIDTH: 100%" ALIGN="left"><FONT
                                STYLE="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV>

                  <DIV ID="PN" STYLE="PAGE-BREAK-AFTER: always">
                         <DIV STYLE="WIDTH: 100%; TEXT-ALIGN: center"><FONT
                                STYLE="DISPLAY: inline; FONT-SIZE: 8pt" FACE="Times New Roman"></FONT></DIV>
                         <DIV STYLE="WIDTH: 100%; TEXT-ALIGN: center">
                                <HR COLOR="#000000" NOSHADE="NOSHADE" SIZE="2"> </DIV></DIV>
                  <DIV ID="HDR">
                         <DIV ID="GLHDR" STYLE="WIDTH: 100%" ALIGN="right"><FONT
                                STYLE="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV></DIV>

                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT SIZE="2"></FONT>&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: 12pt; FONT-FAMILY: Times New Roman"><STRONG>Post
                  Quarter Highlights and Announcements</STRONG></FONT></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><BR></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Top
                  5 Global Pharma - Significant Progress in Drug Delivery
                  Evaluation</STRONG></FONT></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Earlier
                  this month pSivida announced that the evaluation of selected compounds from an
                  undisclosed top five global pharmaceutical company has progressed successfully.
                  The collaboration agreement covers a staged evaluation of the pharmaceutical
                  company&#146;s proprietary compounds in pSivida&#146;s porous silicon,
                  controlled release platform (BioSilicon</FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><SUP>TM</SUP></FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">). The
                  initial stage of the planned 12-month programme has concluded meeting the
                  agreed technical success criteria, and in turn triggering the next payment to
                  pSivida under the terms of the agreement. More advanced assessment of the first
                  compound will continue, whilst a second compound will enter the planned
                  technical evaluation.</FONT></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><BR></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>pSivida
                  Expands Market for Lead Cancer Product BrachySil</STRONG></FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><SUP><STRONG>TM</STRONG></SUP></FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>&nbsp;</STRONG></FONT></DIV>

                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">A full
                  development programme of pSivida&#146;s proprietary BrachySil</FONT><FONT STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><SUP>TM</SUP></FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"> product
                  in a second key cancer indication has commenced to evaluate the efficacy and
                  safety of this novel brachytherapy product in pancreatic cancer, with the
                  clinical programme scheduled to commence before the end of 2005. Selection of
                  this second key indication has resulted from significant independent market
                  research and medical opinion leader feedback and therefore represents a
                  judicious, robust and viable development option. Pancreatic cancer is one of
                  the most prevalent cancers with over 232,000 new cases on a global basis per
                  annum (Globocan 2002 statistics) and approximately 60% of new cases occurring
                  in the developed world. With an average five year survival of 4%, pancreatic
                  cancer represents a significant unmet clinical need.</FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><EM>&nbsp;</EM></FONT></DIV>

                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><BR></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 18pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><BR></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><BR></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"><STRONG>-ENDS-</STRONG></FONT></DIV>

                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><BR>
                  <DIV ALIGN="left">
                         <TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0">
                                <TR>
                                  <TD STYLE="BORDER-BOTTOM: medium none" VALIGN="top" WIDTH="20%">
                                         <DIV
                                          STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                                          ALIGN="justify"><FONT
                                                STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Released
                                                by:</STRONG></FONT></DIV></TD>
                                  <TD STYLE="BORDER-BOTTOM: medium none" VALIGN="top"
                                        WIDTH="5%">&nbsp;</TD>
                                  <TD STYLE="BORDER-BOTTOM: medium none" VALIGN="top"
                                        WIDTH="75%">&nbsp;</TD>
                                </TR>
                                <TR>
                                  <TD STYLE="BORDER-BOTTOM: medium none" VALIGN="top"
                                        WIDTH="20%">&nbsp;</TD>
                                  <TD STYLE="BORDER-BOTTOM: medium none" VALIGN="top"
                                        WIDTH="5%">&nbsp;</TD>
                                  <TD STYLE="BORDER-BOTTOM: medium none" VALIGN="top"
                                        WIDTH="75%">&nbsp;</TD>
                                </TR>
                                <TR>
                                  <TD STYLE="BORDER-BOTTOM: medium none" VALIGN="top" WIDTH="20%">
                                         <DIV
                                          STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                                          ALIGN="justify"><FONT
                                                STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>In
                                                Australia:</STRONG></FONT></DIV>
                                         <DIV
                                          STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                                          ALIGN="justify"><FONT
                                                STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Josh
                                                Mann, CFA</FONT></DIV>
                                         <DIV
                                          STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                                          ALIGN="justify"><FONT
                                                STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Investor
                                                Relations</FONT></DIV>
                                         <DIV
                                          STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                                          ALIGN="justify"><FONT
                                                STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">pSivida
                                                Limited</FONT></DIV>
                                         <DIV
                                          STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                                          ALIGN="justify"><FONT
                                                STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Tel: +
                                                61 8 9226 5099</FONT><FONT ID="TAB2"
                                                STYLE="COLOR: black; LETTER-SPACING: 27pt">&nbsp;</FONT></DIV>
                                         <DIV
                                          STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                                          ALIGN="justify"><FONT
                                                STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">joshuamann@psivida.com</FONT></DIV></TD>

                                  <TD STYLE="BORDER-BOTTOM: medium none" VALIGN="top"
                                        WIDTH="5%">&nbsp;</TD>
                                  <TD STYLE="BORDER-BOTTOM: medium none" VALIGN="top" WIDTH="75%">
                                         <DIV
                                          STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                                          ALIGN="justify"><FONT
                                                STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>In
                                                US:</STRONG></FONT></DIV>
                                         <DIV
                                          STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                                          ALIGN="justify"><FONT
                                                STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Beverly
                                                Jedynak</FONT></DIV>
                                         <DIV
                                          STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                                          ALIGN="justify"><FONT
                                                STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">President</FONT></DIV>

                                         <DIV
                                          STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                                          ALIGN="justify"><FONT
                                                STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Martin
                                                E. Janis &amp; Company, Inc.</FONT></DIV>
                                         <DIV
                                          STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                                          ALIGN="justify"><FONT
                                                STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">Tel:
                                                312-943-1100 ext. 12</FONT></DIV>
                                         <DIV
                                          STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                                          ALIGN="justify"><FONT
                                                STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">bjedynak@janispr.com</FONT></DIV></TD>
                                </TR>
                         </TABLE></DIV>
                  <DIV></DIV></DIV><BR>
                <DIV ID="PGBRK"
                 STYLE="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt">
                  <DIV ID="FTR">
                         <DIV ID="GLFTR" STYLE="WIDTH: 100%" ALIGN="left"><FONT
                                STYLE="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV>

                  <DIV ID="PN" STYLE="PAGE-BREAK-AFTER: always">
                         <DIV STYLE="WIDTH: 100%; TEXT-ALIGN: center"><FONT
                                STYLE="DISPLAY: inline; FONT-SIZE: 8pt" FACE="Times New Roman"></FONT></DIV>
                         <DIV STYLE="WIDTH: 100%; TEXT-ALIGN: center">
                                <HR COLOR="#000000" NOSHADE="NOSHADE" SIZE="2"> </DIV></DIV>
                  <DIV ID="HDR">
                         <DIV ID="GLHDR" STYLE="WIDTH: 100%" ALIGN="right"><FONT
                                STYLE="DISPLAY: inline; FONT-SIZE: 8pt; COLOR: #000000; FONT-FAMILY: Times New Roman"></FONT></DIV></DIV></DIV><BR>

                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>NOTES
                  TO EDITORS:</STRONG></FONT></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><BR></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"><STRONG>pSivida
                  Limited</STRONG></FONT></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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 material, BioSilicon&#153; 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></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><BR></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">pSivida
                  owns the intellectual property rights to BioSilicon&#153; for use in or on
                  humans and animals. The IP portfolio consists of 24 patent families, 28 granted
                  patents and over 80 patent applications. The core patent, which recognises
                  BioSilicon&#153; as a biomaterial was granted in the UK in 2000 and in the US
                  in 2001. </FONT></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><BR></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">pSivida
                  is listed on NASDAQ (</FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>PSDV</STRONG></FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">), the
                  Australian Stock Exchange (</FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>PSD</STRONG></FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">) and in
                  Germany on the Frankfurt Stock Exchange on the XETRA system (</FONT><FONT STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>German</STRONG></FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">&nbsp;</FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><STRONG>Symbol:
                  PSI. Securities Code (WKN) 358705</STRONG></FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">).
                  </FONT></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><BR></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">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&#153;. pSivida enjoys a strong relationship with QinetiQ
                  having access to its cutting edge research and development facilities. For more
                  information on QinetiQ visit </FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><U>www.qinetiq.com</U></FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">.</FONT></DIV>

                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><BR></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">For more
                  information visit </FONT><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><U>www.psivida.com</U></FONT></DIV>

                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><BR></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><BR></DIV>
                <DIV
                 STYLE="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; LINE-HEIGHT: 1.25; MARGIN-RIGHT: 0pt"
                 ALIGN="justify"><FONT
                  STYLE="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">This
                  document contains forward-looking statements that involve risks and
                  uncertainties. 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.
                  Other reasons 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&nbsp;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></DIV>
                <DIV
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