Senesco Technologies completes subsequent private placement with Stanford Venture Capital Holdings

New Brunswick, New Jersey
January 24, 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 285,715 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.

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. Earlier in January 2002, the Company closed a five hundred thousand dollar ($500,000) private placement with Stanford under the same terms as the current investment. Senesco is in discussions with additional prospective investors with the ultimate goal of raising enough capital to meet the initial listing requirements for listing on a
national stock exchange.

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.

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