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NEWS

Senesco and Harris Moran agree to enter into license to commercialize Senesco's technology

Princeton, New Jersey
May 14,  2001

Senesco Technologies, Inc. ("Senesco" or the "Company")(OTC BB: SENO), announced today that it has signed a letter of intent with Harris Moran Seed Company ("Harris Moran") to enter into a worldwide exclusive license to commercialize Senesco's technology in lettuce, cantaloupe and honeydew melons. 

The letter of intent provides that Senesco will receive $4 million in development payments over a multi-year period. The license will also provide for royalties upon commercial introduction. 

Harris Moran is a unit of Groupe Limagrain, a world leader in vegetable and field seed breeding and production, with total revenues in excess of $1 billion. Harris Moran breeds innovative vegetable varieties designed to boost yield, reduce chemical inputs, and increase flavor and product quality. The Modesto, California based company distributes vegetable seeds in more
than 65 countries.  

Bruno Carette, President and Chief Operating Officer of Harris Moran commented, "Senesco's technology is an ideal fit for Harris Moran. Senesco has demonstrated that its technology increases yield and results in greater tolerance to environmental stress in leafy plants. Harris Moran will be able to provide lettuce varieties that are superior to those presently available as a
result of increased yield and extended shelf life traits." 

Ruedi Stalder, Chairman and Chief Executive Officer of Senesco stated, "This is a significant step forward for Senesco. Harris Moran's participation is further validation of the commercial value of our technology. We are most pleased with the prospects of this new partnership." 

Senesco is a gene discovery company whose mission is to enhance crop quality and productivity through the control of senescence (aging) in plants, which results in longer shelf life, increased crop yield, increased biomass and greater tolerance to environmental stress in fruits, flowers, vegetables and agronomic crops. The Company is based in Princeton, 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. 

Company news release
N3520

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