Senesco Technologies, Inc. ("Senesco" or the "Company") (AMEX:SNT) today announced that on October 11, 2006, the Company closed its previously announced $2.3 million private placement consisting of 1,986,306 shares of its common stock at a price of $1.07 per share of common stock and warrants to purchase 993,153 shares of its common stock at an exercise price of $1.18 per share of common stock. Approximately $1.5 million of the private placement was invested by certain members of the Company's Board of Directors, with the balance by certain institutional and accredited investors. In connection with this private placement, Senesco has agreed to file a registration statement on Form S-3 by November 10, 2006 to register the shares of common stock and the shares underlying the warrants.

The proceeds from the private placement will be used for the Company's ongoing preclinical research programs in cancer and inflammatory diseases, as well as general operating expenses.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The shares of common stock have been sold pursuant to an exemption from state and federal securities laws.

October 11, 2006

Senesco Technologies, Inc. ("Senesco" or the "Company") (AMEX:SNT) today announced that on October 10, 2006 it entered into a definitive purchase agreement for the issuance and sale of 1,986,306 shares of its common stock at the closing price of the common stock as of October 9, 2006, expecting to raise approximately $2.3 million in gross proceeds. Approximately $1.5 million of the private placement will be invested by certain members of the Company's Board of Directors, with the balance from certain institutional and accredited investors. In connection with their participation in the private placement, these investors will receive warrants to purchase 993,153 shares of common stock with an exercise price equal to 110% of the common stock purchase price. In connection with this private placement, Senesco has agreed to file a registration statement on Form S-3 by November 10, 2006 to register the shares of common stock and the shares underlying the warrants. The private placement is expected to close on or about today.

The proceeds from the private placement will be used for the Company's ongoing preclinical research programs in cancer and inflammatory diseases, as well as general operating expenses.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The shares of common stock have been sold pursuant to an exemption from state and federal securities laws.

Senesco has initiated preclinical research to trigger or delay cell death in mammals (apoptosis) to determine if its technology is applicable in human medicine. Accelerating apoptosis may have applications to the development of cancer treatments. Delaying apoptosis may have applications to certain diseases such as glaucoma, ischemia and arthritis, among others. Senesco takes its name from the scientific term for the aging of plant cells: senescence. The Company has developed technology that regulates the onset of cell death.
Delaying cell breakdown in plants extends freshness after harvesting, while increasing crop yields, plant size and resistance to environmental stress for flowers, fruits and vegetables. In addition to its human health research programs, the Company believes that its technology can be used to develop superior strains of crops without any modification other than delaying natural plant senescence. Senesco has partnered with leading-edge companies engaged in agricultural biotechnology and earns research and development fees for applying its gene-regulating platform technology to enhance its partners' products.