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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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 9qd0pbwBpAZ9KVjEQtCgMA==

<SEC-DOCUMENT>0000922423-05-000734.txt : 20050428
<SEC-HEADER>0000922423-05-000734.hdr.sgml : 20050428
<ACCEPTANCE-DATETIME>20050428142343
ACCESSION NUMBER:		0000922423-05-000734
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050426
FILED AS OF DATE:		20050428
DATE AS OF CHANGE:		20050428

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			NEPHROS INC
		CENTRAL INDEX KEY:			0001196298
		STANDARD INDUSTRIAL CLASSIFICATION:	SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841]
		IRS NUMBER:				133971809
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		3960 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10032
		BUSINESS PHONE:		2127815113

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CENTELLA LAWRENCE J
		CENTRAL INDEX KEY:			0001304341

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32288
		FILM NUMBER:		05779884

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		(847)368-1805

	MAIL ADDRESS:	
		STREET 1:		3331 N. RIDGE AVE.
		CITY:			ARLINGTON HTS.
		STATE:			IL
		ZIP:			60004
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>kl00472_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-04-26</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001196298</issuerCik>
        <issuerName>NEPHROS INC</issuerName>
        <issuerTradingSymbol>NEP</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001304341</rptOwnerCik>
            <rptOwnerName>CENTELLA LAWRENCE J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>3331 N. RIDGE AVE.</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ARLINGTON HEIGHTS,</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60004</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Non-qualified stock option (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>3.70</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2005-04-26</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>10000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2015-04-26</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock $.001 par value</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>10000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">On April 26, 2005, the Company granted Mr. Centella an option to purchase 10,000 shares of common stock of the Company under
the Company's 2004 Equity Incentive Plan. The option has vested with respect to 3,333 shares. The remainder of the option
will vest in annual installments of 3,333 shares on the first anniversary of the grant date, and 3,334 shares on the second
anniversary of the grant date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Lawrence J. Centella</signatureName>
        <signatureDate>2005-04-28</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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