NEWS

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NEWS

Senesco completes $2 million private placement with Stanford Venture Capital Holdings

New Brunswick, New Jersey
December 5,  2001

Senesco Technologies, Inc. ("Senesco'' or the "Company'')(OTC BB: SENO - news), announced today that it has completed a two million dollar placement of equity securities with Stanford Venture Capital Holdings, Inc. ("Stanford''). The offering consisted of 1,142,858 shares of Common
Stock, warrants to purchase 500,000 shares of Common Stock with an exercise price of $2.00 per share and warrants to purchase an additional 500,000 shares of Common Stock with an exercise price of $3.25 per share.

Stanford is a part of the Stanford Financial Group, an international network of affiliated companies that, as of September 30, 2001, maintained in excess of $14 billion in deposits and assets under management or advisement.

Bruce C. Galton, Senesco's President and Chief Executive Officer, stated "The capital raised by this round of financing will satisfy our immediate working capital needs by allowing the Company to fund current and future research and development initiatives. We are most pleased with Stanford's strong vote of confidence in Senesco.''

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. 

Company news release
N4019

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