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Change of Chairman

24 / 09 / 2008

Sunshine Heart (ASX: SHC) announces the retirement of Malcolm McComas as Chairman at the conclusion of the Annual General Meeting on 30 October, 2008 and the appointment of Nicholas Callinan as new Chairman.

Malcolm McComas to retire
The Company's chairman Malcolm McComas today announced his intention to retire as chairman at the conclusion of the Annual General Meeting to be held on Thursday 30 October, 2008.

Mr. McComas, chairman of Sunshine Heart since listing on the ASX in September 2004, said: "with approval from the US Food and Drug Administration (FDA) to conduct a US clinical trial, it's time to pass the role on. My successor Nicholas Callinan is well qualified, an experienced chairman and an outstanding choice."

Mr. McComas has agreed to continue to serve the Company as a non executive director.

Nicholas Callinan elected as new Chairman

Nicholas Callinan was appointed a director of the Company on 10 July 2008 to fill a casual vacancy. Mr. Callinan is seeking election as a director at the Annual General Meeting and if elected, the board has resolved to appoint him as Chairman.

Nick Callinan said: "I'm pleased to accept this role and I very much look forward to working with the talented Sunshine Heart team that has taken from concept to the clinic a highly innovative idea for the treatment of moderate heart failure. With the winning of the recent FDA approval, the business now advances to its next major development stage as it implements its US clinical trial program and begins to address its large market opportunity. It has been under Malcolm's 4 years of leadership that the company has achieved all this. The Board joins me in thanking him for his significant contribution."

Mr Callinan is the founder and managing partner of Collins Hill Pty Ltd which provides advice to institutional investors and funds managers in the global private equity and venture capital markets where he has worked for over 20 years in several countries including the UK and USA. In the early 1990's, he set up investment funds in the former communist countries of Central Europe. Previously, in the early 1980's, he was founder and chief executive of the Advent group of companies which was one of the first venture capital investment groups in Australia. He has served on a number of company boards both private and public, government bodies and charitable foundations in Australia and overseas. He has degrees in Engineering and Business Administration from the University of Melbourne.

About the Board
After the AGM, the board of 8 members will consist of 6 non executive directors and 2 executive directors:
Nicholas Callinan - Chairman
John Brennan +
Dr. Geoff Brooke +
Malcolm McComas *
Crispin Marsh *
Donal O'Dwyer *
Dr. William Peters - Medical Director and Chief Technical Officer
Don Rohrbaugh - Chief Executive Officer

+ denotes member of the Remuneration & Nomination Committee
* denotes member of the Audit, Compliance & Governance Committee