PHARMENG REPORTS EARNINGS FOR 2005

PharmEng International Inc., a full-service consulting and contract manufacturing company, today reported its results for the period ended December 31, 2005. For the twelve-month period ended December 31, 2005, the Company had revenues of $7,563,000 on a consolidated basis compared to $5,894,000 for the same period in the prior year, an increase of $1,669,000, or 28%. This increase was a result of the Company's continuing successful penetration into the U.S. market through the Raleigh, NC offices which opened in September 2005.

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