Memory Stick Utility is a multi-purpose utility to application which can perform various general management functions on a Memory Stick. This includes:
- Connect various devices through a USB cable (Flash 0, Flash 1, Flash 2, Flash 3, Memory Stick and UMD Disc)
- Inject a variety of included IPLs or an IPL from a file to the Memory Stick
- Erase the entire IPL space of the Memory Stick
- Check the IPL injected on the Memory Stick or a file located on the Memory Stick
- Create a checksum of the IPL injected on the Memory Stick or an IPL located on the Memory Stick
- Extract the IPL injected on the Memory Stick to a file

In this release I made the following changes:
- Added option to extract Memory Stick MBR
- Added detection of available IPL space and Memory Stick Information
- Added option to extract entire IPL space from Memory Stick
- Fixed a bug which caused corruption of Memory Stick when injecting an IPL larger than the reserved space
- Entire IPL area is now erased from the Memory Stick
- Fixed issue detecting IPLs smaller than 4,096 bytes which were injected with this application
- Fixed issue which meant more space was required to inject an IPL, the required IPL space is now only rounded up to a multiple of 512 when it is not a multiple of 512
- PRXs are now stored internally for easier installation of application
- Reverted the IPL injection back to the style used in version 0.4