Milestone Scientific, Inc. Announces Schedule 13G Filed by Gintel Asset Management, Inc

Business Wire, April 17, 1998

LIVINGSTON, NJ--(BUSINESS WIRE)--April 17, 1998--Milestone Scientific Inc. (NASDAQ/NNM:WAND) today announced that Gintel Asset Management, Inc., an Investment Advisory firm located in Greenwich, CT, has filed an amended schedule 13G with the Securities and Exchange Commission, indicating beneficial ownership of 1,028,100 shares, or 11.7%, of the outstanding common stock of Milestone Scientific Inc.

Daniel R. Martin, President of Milestone Scientific Inc., stated "We welcome this vote of confidence by the Gintel investors. We understand that Bob Gintel has a reputation for being a savvy investor who does his homework." As previously announced, Milestone expects to report its first profitable quarter when financial results are released.

Milestone Scientific Inc. is the developer, manufacturer and marketer of The Wand(TM), a computer activated, precision metered, local anesthetic injection system that enables virtually painless injections to be administered consistently.

This release contains certain forward-looking statements which involve known and unknown risks, uncertainties or other factors not under the Company's control, which may cause actual results, performance or achievements of the Company to be materially different from the results, performance or other expectations implied by these forward-looking statements. These factors include, but are not limited to, those detailed in the Company's periodic filings with the Securities and Exchange Commission.

CONTACT: Milestone Scientific Inc., Livingston

Michael McGeehan, Executive Vice President

(973) 535-2717; (973) 535-2829 (Fax)

Web site: www.milesci.com

or

Wolfe Axelrod Associates, New York

Stephen D. Axelrod, CFA

Nancy S. L. Block

Susan T. Bolen (Media)

(212) 370-4500; (212) 370-4505 (Fax)

e-mail: nancylb@wolfeaxelrod.com