pSivida Limited Completes Agreement With Existing Convertible Note Holder

BOSTON & PERTH, Australia--(BUSINESS WIRE)--Sept. 15, 2006--Global bio-nanotech company pSivida Limited (NASDAQ:PSDV)(ASX:PSD)(Xetra:PSI) today announced that the definitive documentation related to the previously announced renegotiated terms of the Convertible Note dated November 16, 2005 between the Company and Castlerigg Master Investments Ltd. has been completed.

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