EXHIBIT
99.1
November
16, 2006
A
temporary restriction has been instituted on withdrawals of ordinary shares
from
pSivida Limited’s American Depositary Receipts program administered by Citibank,
N.A. Until the Company completes a prospectus filing in Australia, withdrawals
of ordinary shares will not be permitted in respect of American Depositary
Shares (ADSs) purchased on or after November 20, 2006.
Until
further notice, all requests to Citibank, N.A. for the withdrawal of ordinary
shares from the deposit facility must be accompanied by a withdrawal
certification in the form appended below.
The
restrictions will terminate upon the earlier of the Company’s completion of the
prospectus filing or December 30, 2006.
Questions
can be directed to Brian Leedman, Investor Relations, pSivida Limited,
Tel: +61 (8) 9226 5099;
email: brianl@psivida.com.
APPENDIX
WITHDRAWAL
CERTIFICATION
_____________,
2006
pSivida
Limited
Level
12
BGC Centre
28
The
Esplanade
Perth,
WA
6000
Australia
By
Hand
Citibank,
N.A.
111
Wall
Street, 15th
Floor /
Zone 8
New
York,
New York 10043
Attn.:
Margie
Beckman
By
Mail
Citibank,
N.A.
111
Wall
Street, 15th
Floor,
Zone 8
New
York,
New York 10043
Zip
Code
for Registered and Regular Mail: 10043
Zip
Code
for Overnight Mail: 10005
Attn:
Margie
Beckman
Re:
pSivida
Limited ADSs
Dear
Sirs:
Reference
is hereby made to (i) the Deposit Agreement, dated as January 24, 2005 (the
“Deposit
Agreement”),
by
and among pSivida Limited (the “Company”),
Citibank, N.A., as Depositary (the “Depositary”),
and
all Holders and Beneficial Owners of American Depositary Shares (the
“ADSs”)
evidenced by American Depositary Receipts (the “ADRs”)
issued
thereunder. Capitalized terms used but not defined herein shall have the
meanings given to them in the Deposit Agreement.
This
Withdrawal Certification is being furnished in connection with the withdrawal
of
Shares upon surrender of the ADSs to the Depositary.
A. We
certify that we are the Beneficial Owner(s) of the ADSs presented herewith
for
cancellation and we acquired the ADSs prior to November 20, 2006;
and
B. We
acknowledge that the Company and the Depositary will rely upon the truth and
accuracy of the foregoing certification.
Very
truly yours,
[INSERT
NAME OF SURRENDERING HOLDER]
____________________________________
____________________________________
Name:
Title:
Date: