X0202 4 2006-08-23 0 0000872912 DELCATH SYSTEMS INC DCTH 0001266152 LADD ROBERT C/O LADDCAP VALUE ADVISORS LLC 650 FIFTH AVENUE, SUITE 600 NEW YORK NY 10019 0 0 1 0 Common stock, $0.01 par value per share 2006-08-23 4 P 0 3000 4.71 A 2233540 I By limited partnership Common stock, $0.01 par value per share 2006-08-23 4 P 0 200 4.73 A 2233740 I By limited partnership Common stock, $0.01 par value per share 2006-08-23 4 P 0 1500 4.75 A 2235240 I By limited partnership Common stock, $0.01 par value per share 2006-08-23 4 P 0 2000 4.76 A 2237240 I By limited partnership Laddcap Value Partners LP, a Delaware limited partnership ("Laddcap"), is the record holder of 2,237,240 shares of the common stock $0.01 par value per share (the "Shares"), of Delcath Systems, Inc. (the "Company"). Robert Ladd possesses the sole power to vote and the sole power to direct the disposition of all the Company's Shares held by Laddcap. Thus, as of August 23, 2006 for the purposes of Reg. Section 240.13d-3, Mr. Ladd is deemed to beneficially own 2,237,240 Shares. Mr. Ladd's interest in the Shares reported herein is limited to the extent of his pecuniary interest, if any, in Laddcap. /s/ Robert Ladd 2006-08-24