New Brunswick, New Jersey
December 28,  2001

Senesco Technologies, Inc. ("Senesco" or the "Company") (OTC BB: SENO), announced today that on December 26, 2001 it completed a 1.165 million dollar placement of the Company's restricted equity securities with private investors.

The offering consisted of 665,714 shares of Common Stock, warrants to purchase 145,625 shares of Common Stock with an exercise price of $2.00 per share and warrants to purchase an additional 145,625 shares of Common Stock with an exercise price of $3.25 per share.

The Company may complete a second private placement in January, 2002 should additional investors wish to participate. In addition, the Company recently closed a two million dollar private equity placement with Stanford Venture Capital Holdings, Inc, as well as having converted bridge notes from its Board of Directors in the total aggregate amount of $534,316 into equity. Senesco also converted an additional $131,250 of a payable to a Director into stock options.

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
N4074