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Millennium Enters Into $600,000 Product Development Agreement to Fund Product Development for the $20,000,000 Purchase Agreement with Provider Services, Inc.
Date:1/16/2008

Agreement Provides for Provider Services, Inc. to fund $600,000 for Product Development Associated with the Ready-To-Drink Product to be Developed by

Millennium pursuant to the terms of the $20,000,000 5-year Purchase

Agreement

BASKING RIDGE, N.J., Jan. 16 /PRNewswire/ -- Millennium Biotechnologies Inc., wholly owned subsidiary of Millennium Biotechnologies Group, Inc. (OTC Bulletin Board: MBTG) today announced that it will receive $600,000 in funding pursuant to the terms of a one year Product Development Agreement with Provider Services, Inc. of Cleveland, Ohio (PSI). As Ohio's second largest services provider for the Long Term Care channel, with sales in excess of 300 million dollars, PSI will provide services to over 12,000 residents in 2008.

"Our agreement will allow us to use Millennium's extensive clinical experience and success in the cancer and HIV channels and apply that experience to the nutritional challenges in the Long Term Care channel," stated Mark Mirken, President and Chief Operating Officer of Millennium Biotechnologies.

"Expanding our relationship with MBI and MBTG by funding the product development and providing PSI a one year lead to market on products they provide will give us a significant cost savings and market advantage," Brian Colleran, CEO of PSI stated. Mr. Colleran added, "This will continue to allow us enhance the quality of life for our residents and new tenants."

About Millennium:

Millennium's three proprietary, marketed products, which form the Company's Resurgex(R) Continuum of Care, include Resurgex Select(R), Resurgex(R), and Resurgex Plus(R). Resurgex Select(R) is a whole foods-based, calorically dense, high-protein nutritional formula developed for cancer patients undergoing chemotherapy or radiation treatments. Resurgex(R) and Resurgex Plus(R) are specialized, anabolic nutritional supplements rich in antioxidants that provide nutritional support p
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SOURCE Millennium Biotechnologies Inc.
Copyright©2008 PR Newswire.
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