Independent Analyst Issues Buy Recommendation for Terra Nostra.

Business Editors

NEW YORK--(BUSINESS WIRE)--Jan. 28, 2004

Terra Nostra Technology Ltd. (OTCBB:TNRL)(Berlin:TNV) today announced that the Oberbayerischer Borsenbrief ("OBB"), an independent financial group based in Munich, Germany, has recently issued a detailed report on the business of Terra Nostra containing a buy recommendation to its investment following.

The three-page analysis, which has been translated to English from German, is available in its entirety on the Company's website at www.tnrgroup.com.

The report includes a discussion of Terra Nostra's present stage of development, highlighting its movement from product research to product commercialization. An overview of the current market potential for the bio-insecticide industry and an introduction to Terra Nostra's two primary bio-insecticide applications for the control and eradication of the Gypsy Moth and the Colorado Potato Beetle are also contained in the report. The OBB goes on to discuss Terra Nostra's exclusive license with the Canadian Forestry Services for the marketing of their bio-insecticide, Disparvirus over a period of 30 years, and touches on Terra Nostra's other ongoing commercialization activities.

The OBB analyst concludes the report with the expectation that the Company's market price on the Berlin Stock Exchange should reach up to 1,50 Euros over the next couple of months, and ultimately, a target price of 2,00 provided certain commercialization efforts currently underway are successful.

Regis Bosse, Terra Nostra's President and CEO, comments, "We are encouraged by the OBB's positive review of our corporate progress, especially their commentary as to the market potential for products such as those produced by Terra Nostra. This type of independent evaluation allows a wider range of investors valuable insight into Terra Nostra's substantial growth possibilities."

"Terra Nostra has a lot to offer," Marc Fournier Terra Nostra's VP of Scientific Research adds, "We still have several hurdles to overcome as we continue to commercialize our products, but the products themselves offer a superior solution to existing problems. Its great to see we are not the only ones who see our growth potential."

About Terra Nostra:

Terra Nostra Technology Ltd. intends to become a leading supplier of viral and fungal bio-insecticides for agricultural, forestry and disease control applications to the North American and global markets. Terra Nostra is currently developing and producing viral and fungal bio-insecticides for these markets. Terra Nostra is also working towards finalizing an agreement with the USDA for the development, production and manufacture of a bio-insecticide based on a baculovirus effective against mosquitoes carrying the West Nile Virus. Terra Nostra's 2004 development focus includes expenditures of up to $1,800,000 on the development, commercialization and marketing of (1) a viral bio-insecticide applicable to the forestry industry for control of the Gypsy Moth; (2) a fungal bio-insecticide applicable to the agricultural industry for control of the Colorado Potato Beetle; and, (3) a viral bio-insecticide with disease control applications to address mosquitoes acting as vectors of West Nile Virus.