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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 HxzZFmSY0X65x1CxBX0PbnacYddfxZjxrpVJdc7J8WGcErywOwqOgxAdr1FQqGqI
 6NwJEP5Ps5b8qvwGWbjYJQ==

<SEC-DOCUMENT>0000922423-05-000752.txt : 20050429
<SEC-HEADER>0000922423-05-000752.hdr.sgml : 20050429
<ACCEPTANCE-DATETIME>20050429112248
ACCESSION NUMBER:		0000922423-05-000752
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20050427
FILED AS OF DATE:		20050429
DATE AS OF CHANGE:		20050429

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			DAVIS HOWARD ALAN
		CENTRAL INDEX KEY:			0001196425

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-32288
		FILM NUMBER:		05783400

	BUSINESS ADDRESS:	
		STREET 1:		21700 OXNARD ST
		STREET 2:		STE 1750
		CITY:			WOODLAND HILLS
		STATE:			CA
		ZIP:			91367

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
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>kl00476_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2005-04-27</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001196425</rptOwnerCik>
            <rptOwnerName>DAVIS HOWARD ALAN</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>5850 CANOGA AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 315</rptOwnerStreet2>
            <rptOwnerCity>WOODLAND HILLS,</rptOwnerCity>
            <rptOwnerState>CA</rptOwnerState>
            <rptOwnerZipCode>91367</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>3.40</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2005-04-27</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>5000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2015-04-27</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock $.001 par value</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">On April 27, 2005, the Company granted Mr. Davis an option to purchase 5,000 shares of common stock of the Company under the
Company's 2004 Equity Incentive Plan. The option has vested with respect to 1,667 shares. The remainder of the option will
vest in annual installments of 1,667 shares on the first anniversary of the grant date, and 1,666 shares on the second
anniversary of the grant date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Howard Alan Davis</signatureName>
        <signatureDate>2005-04-29</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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