Nephros Inc. Raises $12.7 Million in New Financing

NEW YORK, NY--(MARKET WIRE)--Sep 25, 2007 -- Nephros, Inc. (AMEX:NEP - News) announced today that it has entered into several subscription agreements whereby Lambda Investors LLC, GPC 76 LLC, Lewis P. Schneider and Enso Global Equities Partnership LP will collectively purchase an aggregate of approximately $12.7 million principal amount of Series A 10% Secured Convertible Notes due 2008 of Nephros, for the face value thereof.

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