SOURCE: StarInvest Group, Inc.

July 26, 2005 09:00 ET

StarInvest Group, Inc. Announces Second Quarter Results

25% Gain in Net Asset Value

NEW YORK, NY -- (MARKET WIRE) -- July 26, 2005 -- StarInvest Group, Inc. (OTC BB: STIV), announced today that second quarter unaudited results show a NAV (Net Asset Value) of $0.10 per share, which represents a 25% appreciation over the NAV of the preceding quarter. The total Portfolio Value is now $2.8 million, with 65% valued in three companies:

--  Magnetech Integrated Services Corp. -- a privately held company.
--  Net2Auction -- a public company, Symbol: (OTC: NAUC)
--  New Life Scientific -- a public company, Symbol: (OTC BB: NWLF)
Ike Sutton, CEO of StarInvest Group, commented, "Our Second Quarter growth was due to the market's reaction to the companies in which we placed our early stage investments. We expect this progress to continue, since these early results give us a strong indication that we have targeted the right industries and management at the correct time. We look forward to continuing growth in our existing portfolio companies, together with new opportunities."

Mr. Sutton added, "Our dividend program to distribute shares of our Portfolio Companies continues to enhance the value of our shareholders' investments."

About Magnetech Integrated Services Corp:

Magnetech Integrated Services Corp. is a company servicing the power industry, providing magnetic and electric services with eight locations and revenues of $28 million for 2004. Founded in 2000, the company, based in South Bend, Indiana, specializes in making, servicing, and repairing industrial magnets, and electric motors of all sizes. Magnetech has 190 employees and over 1,000 customers currently on the books. Many customers utilize two or three of the core business groups which consist of Motors, Magnets, and Field Services. The company operates with five primary Business Groups and four Centers of Excellence. Magnetech plans to have its shares traded in the public market by the end of 2005. For more information:

About Net2Auction:

Net2Auction Inc. is a leading provider of auction drop-off services that allow people to easily sell their items on eBay by dropping unwanted goods off at Net2Auction locations. Getting its customers in and out of its drop-off locations in less than five minutes, the company offers a full-service eBay listing program that requires almost no effort on the customers' part. Currently offering eBay drop-off services at 39 locations and undergoing rapid expansion, Net2Auction's growth is fueled by the increasing number of consumers who would like to sell unwanted goods on eBay but don't have the time, energy or know-how to do so. For more information:

About New Life Scientific:

New Life Scientific, Inc. through its subsidiary, Novo Life Scientific, holds licensing agreements with the Institute of Molecular Biology and Genetics of the Ukrainian Academy of Sciences (IMBG). It intends to use IMBG's technology in biomedicine to develop and market stem cell lines, as well as establishment of a stem cell bank. The company engages in researching and developing the business model for creating stem cell banks and stem cell treatment facilities in Eastern Europe. In addition, New Life Scientific, Inc., through its other subsidiary, Pharma Trials, provides services in the areas of clinical trials, market research, and the regulatory approval of products for pharmaceutical companies and contract research organizations. It has a strategic alliance with INVAPHARM LLC. New Life Scientific is based in Freehold, New Jersey. For more information:

About StarInvest Group:

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:

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 Information

  • Investor Relations Contact for StarInvest Group, Inc.
    Blue Future Inc.
    Barbara Manui
    (212) 423-0407
    Email Contact