Senesco Technologies Reports Second Quarter Fiscal 2008 Financi...(ase in the budget for the banana field t...)

unfavorable exchange rate variance in connection with our research

agreement at the University of Waterloo and the initiation of certain

human health-related research projects that were not in progress during

the three month period ended December 31, 2006. The Company expects

research and development expenses to continue to increase as it expands

its research activities, particularly in the area of human health.

-- General and administrative expenses were $586,000 for the three month

period ended December 31, 2007, compared with $1.1 million during the

three month period ended December 31, 2006. This decrease was

primarily due to lower stock-based compensation expense, which was

partially offset by an increase in depreciation and amortization.

-- At December 31, 2007, Senesco had cash, cash equivalents and

investments of $5,135,644. With the remaining potential gross proceeds

of our previously announced $10 million financing, Senesco should be

able to operate according to the Company's current business plan for

the next 21 months. As previously disclosed, the Company has closed on

$7 million of the $10 million financing. The receipt of the remaining

$3 million of proceeds is dependent upon entering into certain supply

agreements with third party manufacturers. If Senesco does not meet

all or some of the foregoing funding milestones, then the current

$5.1 million is only sufficient for the next 13 months.

About Senesco Technologies, Inc.

Senesco Technologies, Inc. is a U.S. biotechnology company, headquartered in New Brunswick, NJ. Senesco has initiated preclinical research to trigger or delay cell death in mammals (apoptosis) to determine if the technology is applicable in human medicine. Accelerating apoptosis may
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