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Press release Communiqué de presse


October 12, 2004 12 October, 2004

Pheromone Sciences Retains AGORA Investor Relations


TORONTO, ONTARIO, October 12, 2004 - Pheromone Sciences Corp. (TSX-V: PHS) (http://www.pheromonesciences.com) is pleased to announce it has retained the services of AGORA Investor Relations Corp. ("AGORA") (http://www.agoracom.com) to provide investor relations, communications and marketing services.

The objective of this agreement is to create effective communication between Pheromone, it's shareholders and the investment community through AGORA's powerful Internet based investor relations system. A customized and monitored on-line information & discussion centre will allow both the Company and AGORA to communicate with all investors simultaneously, anytime and in real-time, while providing shareholders with equal access and complete transparency to all investor relations communications. Effective immediately, shareholders can access the on-line discussion and information centre by going to http://www.agoracom.com and selecting the "Pheromone Sciences" Information and Discussion Forum.

In addition, AGORA will be fully responsible for creating, implementing and executing an investor relations strategy, including the drafting of all materials, responding to investor queries via the web and e-mail and maintaining the Company's shareholder database. This consolidation of investor relations activities will save management a considerable amount of time, effort and expense, allowing them to focus on core business operations, while significantly improving shareholder communications.

Finally, Pheromone will gain significant amounts of exposure to potential new shareholders as a result of AGORA's targeted small-cap audience at both its own proprietary financial portal and that of The AOL Small-Cap Centre. AGORA is the exclusive provider of all small-cap content to The AOL Small-Cap Centre.

Christopher Neuman, President and CEO commented "Following the successful sale of our Fertility Monitor technology on August 31, 2004 and the receipt of immediate cash proceeds, we are returning to our original mandate of seeking new opportunities in biotechnology. Armed with this success, the time is now right to put a strong emphasis on investor relations for the purposes of communicating our current intentions to both our shareholders and the investment community. AGORA fulfils our need to manage and execute an IR strategy in a cost efficient manner, while providing the management team with the ability to focus on executing our business plan. Our shareholders will benefit from the ability to now ask questions and receive answers at anytime and from anywhere, while receiving real-time and equal access to information as it becomes available." Mr. Neuman went on to say "shareholders will be very happy to know that significant cost savings already implemented by AGORA will reduce the overall cost of engaging the firm by more than 80%. This is a win-win relationship for Pheromone"

For all future Pheromone Sciences investor relations needs, investors are asked to visit http://www.agoracom.com and select the "Pheromone Sciences" forum. Alternatively, investors are asked to e- mail all questions and correspondence to PHS@agoracom.com

The terms of the agreement are as follows: Duration - 12 months. Monthly Cash Compensation - $2,500.00. Stock Options - 250,000 shares at $.15, vesting equally every quarter over the term of the agreement with a one year hold period. This agreement has been negotiated entirely at arm's length. At the present time, no individual affiliated with AGORA beneficially owns, controls or directs any shares of Pheromone. However, depending on market conditions, individuals affiliated with AGORA may in the future acquire, dispose of and/or beneficially own, control or direct shares of Pheromone. AGORA is located in Toronto, Ontario.

About AGORA Investor Relations Corp. http://www.agoracom.com

AGORA Investor Relations Corp. (AGORA) is North America's first and only Investor Relations firm delivering two-way investor relations and communications solely through monitored discussion forums and e-mail. The digital delivery of investor relations allows AGORA to deliver an end-to-end solution to small-cap companies at savings of 50-80% while providing superior communications, audience reach and 100% transparency.

AGORA has specialized in small-cap investor relations since 1997 and has represented over 30 small- cap companies, with over 18 companies currently under contract. By leveraging the power of its' high- traffic financial portal, (www.agoracom.com), The AOL Small Cap Center (www.aol.ca), superior investor relations discussion forum and unique e-mail communication tools, Agora maximizes the resonance of clients' message and image.

About Pheromone Sciences Corp. http://www.pheromonesciences.com

Pheromone Sciences Corp. is a biotechnology research and development company seeking new opportunities to leverage its resources.

CONTACT:

Christopher Neuman President and CEO (416) 861-9854 cneuman@pheromonesciences.com http://www.pheromonesciences.com

AGORA Investor Relations http://www.agoracom.com (Select "Pheromone Sciences") PHS@agoracom.com

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.



Statements contained in this press release, including those pertaining to scientific and clinical research, commercialization plans, strategic alliances, and intellectual property protection, other than statements of historical fact, are forward-looking statements subject to a number of uncertainties that could cause actual results to differ materially from statements made. The TSX Ventures Exchange has not reviewed and does not accept responsibility for the adequacy or the contents of this news release.