Applied DNA Sciences Announces the Appointment of Dean Yacov Shamash as a Director and Completion of $3.95 million Financing

Jul 19, 2006, 01:00 ET from Applied DNA Sciences, Inc.

    STONY BROOK, N.Y., July 19 /PRNewswire-FirstCall/ -- Applied DNA
 Sciences, Inc. (OTC Bulletin Board:   APDN), a DNA security solutions
 company, today announced the completion of the issuance and sale of $3.95
 million of its 10% Secured Convertible Promissory Notes and Warrants. In
 the first tranche, completed on May 2, 2006, the Company sold 20 units for
 aggregate gross proceeds of $1,000,000. In the second tranche, completed on
 June 15, 2006, the Company sold 59 units for aggregate gross proceeds of
 $2,950,000. Each such unit consists of (i) a $50,000 Principal Amount 10%
 Secured Convertible Promissory Note and (ii) a warrant to purchase 100,000
 shares of the Company's common stock, exercisable for a period of four
 years commencing on May 2, 2007, at a price of $0.50 per share. APDN
 intends to use the net proceeds from this transaction for working capital,
 including general corporate purposes, capital expenditures, and potential
 acquisitions of complementary companies or technologies. For further
 details and a discussion about the offering, see our Current Reports on
 Form 8-K, filed on June 15, 2006 and March 14, 2006. Arjent Limited, an
 affiliate of VC Arjent Ltd., served as the exclusive placement agent in
 this offering.
     Dr. James A. Hayward, CEO of Applied DNA Sciences, stated: "Our
 technology can be strategically applied to help address the universal
 problem of counterfeits. From currency to pharmaceutics to luxury goods to
 fine art, we believe we have a ready-to-implement forensic solution to the
 counterfeit problem faced by governments, companies and individuals."
     In addition to the $3.95 million raised, APDN today publicly announced
 the prior appointment of Dean Yacov Shamash to its Board of Directors. APDN
 believes Dean Shamash's appointment will help expedite the
 commercialization of its platform DNA encryption and authentication
 technologies. This appointment was approved by the Board, which also
 includes Dr. James A. Hayward, Dr. Jun-Jei Sheu and Dr. Sanford Simon.
     Dr. James A. Hayward, Chief Executive Officer of APDN, stated, "Dean
 Shamash's appointment to our Board is important to the overall strategic
 development of APDN. We expect to continue focusing our attention on the
 planning and execution of near-term revenue generating opportunities."
     Dr. Shamash is Vice President for Economic Development and Dean of the
 College of Engineering and Applied Sciences at Stony Brook University. As
 Vice President, a position he has held since 2000, Dr. Shamash supervises
 the University's three incubators, two New York State Centers for Advanced
 Technology, the NYS Center of Excellence in Wireless and Information
 Technology (CEWIT), the Small Business Development Center, and the
 workforce development programs of the Center for Emerging Technologies. Dr.
 Shamash is a member of the Board of Directors of the Long Island Software &
 Technology Network (LISTnet) and the Long Island Forum for Technology
 (LIFT). He serves on the boards of Keytronic, American Medical Alert,
 Netsmart Technologies, and A Fellow of the IEEE, he received
 undergraduate and graduate degrees from the Imperial College of Science and
 Technology in London, England.
     "I am excited and honored to join the Board of Directors for Applied
 DNA Sciences," Dr. Shamash said. "I believe Applied DNA is extremely well-
 positioned for growth and I see exciting opportunities in developing future
 collaborations with universities and industries."
     About Applied DNA Sciences, Inc.
     Applied DNA Sciences, Inc. (APDN) develops proprietary DNA-embedded
 security solutions that use plant DNA to verify authenticity and protect
 corporate and government agencies from counterfeiting, fraud, piracy,
 product diversion, identity theft and unauthorized intrusion into physical
 plant and databases. Our common stock is listed on the Over-The-Counter
 Bulletin Board under the symbol "APDN". Contact: MeiLin Wan, Applied DNA
 Sciences, Inc., 25 Health Sciences Drive, Stony Brook, New York 11790; Tel:
 631-444-6862; Fax: 631-444.8848
     The statements made by Applied DNA Sciences, Inc. may be
 forward-looking in nature and are made pursuant to the safe harbor
 provisions of the Private Securities Litigation Reform Act of 1995.
 Forward-looking statements describe the Company's future plans,
 projections, strategies and expectations, and are based on assumptions and
 involve a number of risks and uncertainties, many of which are beyond the
 control of Applied DNA Sciences, Inc. Actual results could differ
 materially from those projected due to changes in interest rates, market
 competition, changes in the local and national economies, and various other
 factors detailed from time to time in Applied DNA Sciences' SEC reports and
 filings, including our Annual Report on Form 10-KSB, filed on January 12,
 2006, our subsequent Quarterly Reports on Form 10-QSB, and our Current
 Reports on Form 8-K. The Company undertakes no obligation to update
 publicly any forward-looking statements to reflect new information, events
 or circumstances after the date hereof to reflect the occurrence of
 unanticipated events.

SOURCE Applied DNA Sciences, Inc.