Harvard Scientific Completes Four Acquisitions; Over $10.6 Million in Tangible Assets Received by Company.

Business Editors

RENO, Nev.--(BUSINESS WIRE)--March 27, 2001

Harvard Scientific Corp., (OTCBB:VGEN) a Nevada Corporation, announced today that its acquisitions of Four Starz Holdings, Inc. (www.fourstarz.com), Gladiator Films, Inc., Four Starz Productions, Inc. and La Playa Studios, Inc., have been completed and the combined assets of the four entertainment companies which total in excess of $10.6 million and include: film inventory, story rights, film distribution and pre-sale executed contracts, have been transferred into Harvard Scientific Corp. In addition, the Company through its acquisition of La Playa Studios, Inc., is designing a $150-million state-of-the-art film, television and music-recording studio to be built in the heart of South Beach, (Miami Beach), Florida, in conjunction with Dade County.

Mr. Daniel De Liege, the newly appointed President of Harvard Scientific had this to say, "the completed acquisitions of Four Starz Productions, Gladiator Films, Four Starz Holdings, and La Playa Studios, Inc., greatly enhances the asset base of this company. Four Starz Productions, our big budget "A" list film division, has begun pre-production on its $25 million dollar action film "DONZI - The Legend" which is being produced by Mr. Steve Perry (producer of Lethal Weapon 1-4, Die Hard 1&2, Speed II, Sudden Impact, The Last Boyscout, and Under Siege, just to name a few). Steve is currently talking with Alec Baldwin to play the lead of Don Aronow; it's simply a matter of scheduling at this point."

"Gladiator Films", added Mr. De Liege, "our low budget direct-to-video, film division has just completed development on its first slate of three films and will begin pre-production of the first film next week. These films have a distribution contract in place through Arthur Kananack's AKA Movies, Inc." Mr. Kananack was formerly VP of Warner Bros., a subsidiary of AOL Time Warner Inc., (NYSE:AOL) and President of Viacom International, (NYSE:VIA).

"Management is very pleased with the progression of events over the past two weeks, as the Company's business plan is all coming together," stated Mr. De Liege. "With two films in production, three more beginning in the next two months and having begun the design phase of our $150 million dollar studio complex in South Beach we are really looking strong this early in the game. We're only going to get stronger in the weeks and months to come."

Harvard Scientific Corp. is currently in a process of transition from an exclusive biopharmaceutical company to a more diversified corporation with its primary business focus moving into the entertainment industry. The Company holds U.S. patents on its proprietary technologies for development and treatment of sexual disorders in male and female patients and will look to develop these products further over the next 12 months so as to attract a licensing partner for the U.S. as well as other parts of the world. The Company's patented formulation of Prostaglandin E-1, in a lyophilized liposomal form, will be developed as a topical application for treatment. Prostaglandin E-1 ("PGE-1"), is a naturally occurring vasodilator originally approved by the U.S. Food and Drug Administration for intravenous infusion in neonates. Several treatment methods have already been approved for treating male erectile dysfunction. In 1995, PGE-1 was approved by the FDA for use in Pharmacia Corps.' (NYSE:PHA), Caverject, which is administered by needle injection. In November 1996, Muse, a solid pellet delivery system produced by Vivus, Inc. (NASDAQ:VVUS), was approved by the FDA. Viagra, Pfizer, Inc.'s (NYSE:PFE) oral medication treatment was approved by the FDA in March, 1998. The Company believes that its topically applied treatment product will present a substantial advantage over other delivery systems currently being utilized in the industry. In addition, the Company has placed a high priority on the development of its treatment for Female Sexual Arousal Disorder ("FSAD") and upon approval, anticipates it to become the treatment of choice in that untapped market.

From time to time the Company may issue forward looking statements which involve risks and uncertainties. This statement may contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Actual results could differ and any forward looking statements should be considered accordingly.