New Brunswick, New Jersey
January 17, 2002

Senesco Technologies, Inc. ("Senesco" or the "Company")(OTC BB: SENO), announced today that it completed an additional five hundred thousand dollar ($500,000) private placement of the Company's restricted equity securities with Stanford Venture Capital Holdings, Inc ("Stanford").

The offering consisted of 285,714 shares of Common Stock, warrants to purchase 125,000 shares of Common Stock with an exercise price of $2.00 per share and warrants to purchase an additional 125,000 shares of Common Stock with an exercise price of $3.25 per share.

Pursuant to an agreement between the Company and Stanford, on or about January 23, 2002 Stanford will invest an additional five hundred thousand dollars ($500,000) under the same terms and conditions. In December 2001, the Company closed a two million dollar ($2,000,000) private placement with Stanford and a 1.165 million dollar ($1,165,000) private placement with certain private investors.

Senesco is a functional genomics company whose mission is to enhance the quality and productivity of fruits, flowers, vegetables and agronomic crops through the control of senescence (aging) in plants. Results to date include longer shelf life of perishable produce, increased seed and biomass yield, and greater tolerance to environmental stress. The Company is based in New Brunswick, New Jersey.

Consistent with the Company's commercialization strategy, Senesco is engaged in discussions with several companies interested in entering into licensing agreements and strategic relationships for the use of the Company's technology.