StarInvest
Portfolio Company New Life Scientific Establishes Three Business Units
New
York, October 10, 2005 – StarInvest Group, Inc. (STIV.OB) today announced that
New Life Scientific, Inc. (NWLF.OB) has established three business units and StarInvest
is currently considering making an additional investment into New Life Scientific
in light of recent developments:
Henry
Val, CEO of New Life Scientific, Inc. stated, “New Life has organized and positioned
itself for tremendous growth in the biotech field, and we are very optimistic
about New Life’s prospects for 2006.”
Ike
Sutton, CEO of StarInvest Group, Inc. commented, “Our cost basis for 135,430 shares
of NWLF which we are holding, provides a 300% return for our fund for the past
twelve months. Based on New Life’s recent developments, we are reviewing with
New Life’s management how we can be further involved in its development.”
About
New Life Scientific
New Life Scientific, Inc. (NWLF) is a developmental biotech company whose core
focus is to commercialize the vast amount of scientific research from Eastern
Europe on stem cell applications and other emerging biotechnologies. Stem cell
research has been actively pursued in Eastern Europe for many years without the
constraints imposed by the government and special interest groups in many areas.
Stem cell therapies and other biotechnology discoveries have the potential to
generate significant revenue streams while helping to heal and/or treat numerous
diseases and injuries. New Life’s objective is to utilize Western management and
marketing procedures to bring these discoveries to those who need them in a commercially
profitable manner. For more 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.
StarInvest Group, Inc.
Contact: Blue Future Inc., Barbara Manui (212) 423-0407 – ir@starinvestgroup.com