Exhibit 99.1

Aksys Reports Third Quarter 2006 Financial Results

Lincolnshire, IL – November 13, 2006 –

Aksys®, Ltd. (NASDAQ: AKSY), a pioneer in innovative dialysis systems, today reported financial results for the third quarter ended September 30, 2006.  Select highlights of the Company’s financial results include the following:

·                  Approximately 41% less cash was used in operations during the third quarter of 2006 than in the third quarter of 2005.

·                  For the nine months ended September 30, 2006, approximately 28% less cash was used in operations than during the same period in 2005.

·                  Net loss for the third quarter of 2006 decreased approximately 10% compared to the third quarter of 2005. The net loss for the year-to-date, decreased approximately 9% compared to the same nine-month period of 2005.

Select corporate highlights for the third quarter include the following:

·                  Aksys announced the Company achieved, on schedule, the first of several key milestones related to the development of the next generation G2 home hemodialysis system by receiving an on-time delivery of the first integrated prototype.

·                  Aksys completed its corporate restructuring to focus its business on development of its next generation G2 hemodialysis system.

·                  In August 2006, Dr. Rosemary Mazanet joined the Company’s Board of Directors.  At the end of the third quarter, the Company had achieved a complete reconfiguration of its Board of Directors having recruited a total of six new members to assist the Company in the development and launch of the G2 system.

·                  The Company submitted a new 510(k) notification to the FDA on August 29, 2006 to address all changes that have been made to the Company’s PHD System since earlier FDA clearance of the product.

·                  The Company received an additional $2 million in financing from Durus Life Science Master Fund Ltd. to fund its operations.

·                  During the third quarter and again in November 2006, Aksys received favorable decisions from the NASDAQ Listing Qualifications Panel providing it additional time to fulfill its plan of compliance to establish compliance with the NASDAQ listing requirements.

The third quarter marks the first full quarter of the Company’s operations under the leadership of its new CEO, Howard Lewin who joined in late June, 2006.  During the quarter, Howard Lewin has continued to lead the development of the Company’s new turnaround strategy focused on the timely development and launch of Aksys’ G2 system while simultaneously lowering quarterly operating spend.  The G2 system is expected to leverage the impressive safety record and demonstrated clinical benefits of the Company’s current PHD System while providing best-in-class reliability, improved ease-of-use, and a low cost position. Importantly, the improved, patented design of the G2 system is expected to yield significantly higher margins and much lower service costs. In August, 2006, Mr. Lewin initiated the Company’s restructuring plan which is designed to decrease the amount of funds utilized in ongoing PHD System operations and allow the Company’s resources to adequately service the remaining markets.



The following information was filed by Aksys Ltd (AKSY) on Monday, November 13, 2006 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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