StarInvest’s Portfolio Company, New Life Scientific, Acquires Pharma Trials International

New York, January 10, 2006, StarInvest Group, Inc. (Symbol: STIV:OB), today announced New Life Scientific (NWLF:OB), a portfolio company of StarInvest, completed an acquisition of Pharma Trials International (PTI) in exchange for $1.5 Million in common stock of NWLF.  The acquisition, which was announced in May 2005, followed the approval of PTI’s shareholders, completion of the audit and other closing conditions and approvals.

Ike Sutton, CEO of StarInvest, stated, “Based on this new acquisition and the revenues it will generate, StarInvest is expecting this Portfolio Company to substantially appreciate.  This will of course be beneficial to both shareholders and StarInvest, which owns a stake in New Life Scientific.  The pharmaceutical industry continues to expand, but drug trials remain an expensive hurdle when bringing new products to market.  PTI is able to conduct these trials in emerging markets, where costs are substantially lower but where standards are comparable to those in the U.S.  Leading Pharma companies will see this benefit, resulting in significant contracts for PTI.”

About Pharma Trials International:

Pharma Trials International (PTI) offers clinical and market research and regulatory support to pharmaceutical, biotech, medical device and other Contract Research Organizations (CRO’s - a company that is contracted to perform all or part of a sponsor’s clinical trials-related tasks).  Clinical research may involve the design, monitoring, and management of trials, the analysis of results, and other specialty duties that drug developers do not have the capacity to perform efficiently.  PTI’s headquarters are in Hillsborough, N.J., while PTI’s main clinical research facility is located in Kiev, Ukraine.  For additional information see, www.pticro.com.

About New Life Scientific, Inc.

New Life Scientific, Inc. (NLS) develops and commercializes novel biotech and pharmaceutical products, vaccines and genetic treatment modalities.  NLS seeks to expand through collaborations, acquisitions, in-licensing and research.  NLS utilizes its strategic geographical positioning in Europe to seek undiscovered, emerging and under-valued biotechnologies in the countries of Eastern Europe, with the further intent of their commercialization.  For additional information see,www.newlifesci.com.

About StarInvest Group, Inc.

StarInvest Group is a publicly traded Business Development Company (BDC) located in New York City. The company has implemented a strategy to create value for shareholders by investing in emerging companies that are positioned for strong industry growth or have business models with strong cash flow potential. In addition to structuring financing requirements, StarInvest provides managerial assistance and strategic links between the Portfolio Companies enabling them to maximize their resources for marketing, business development, administration, public listing planning, and realization of their goals. For more information see www.starinvestgroup.com.

Safe Harbor Statements under the Private Securities Litigation Reform Act of 1965:  Those statements contained herein which are not historical are forward-looking statements, and as such, are subject to risks and uncertainties that could cause actual operating results to materially differ from those contained in the forward-looking statements.  Such statements include, but are not limited to, certain delays that are beyond the Company’s control, with respect to market acceptance of new technologies, or product delays in the testing and evaluation of products, and other risks, as detailed in the Company’s periodic filings with the Securities and Exchange Commission.

Contact for StarInvest Group, Inc., ir@starinvestgroup.com  - (212) 338-0001

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Source: StarInvest Group, Inc.