PRESS RELEASE

For Immediate Release: UPDATED SHAREHOLDER INFORMATION

November 10, 2009 - Jupiter, Florida - Many shareholders have been writing or calling our offices with respect to Pharma Holdings publishing our Annual Report for 2008-09, and also with respect to the disbursement of dividends to our Preferred shareeholders.

First off, we have not published our Annual Report due to a delay by our accounting firm in compiling the aggregated financials of all of the Pharma Holdings affiliates. Furthermore, we have been advised not to post our financial data online since it's not copywrited and subject to being downloaded and abused by Internet pirates. We plan to mail the Annual Report to every shareholder once it's published. We expect it will be completed soon, and then it will be composed, printed and mailed.

Secondly, with respect to the dividend payments to Preferred shareholders, we have experienced a situation with our accountants that may require us to withold taxes on these dividend payments. We have petitioned a decision from the IRS (Internal Revenue Service) here in the USA to determine if we have to withold taxes or not. If so, it would mean that non-US citizens would have to file with the IRS to get the tax reimbursed. We are trying to avoid this as a courtesy to our shareholders and are awaiting a formal decision before mailing out the dividends. We are requesting that our shareholders remain patient until these matters have been resolved. We have every intention of paying the dividends as soon as we get the approval from our legal advisors.

On a final note, we are preparing to update the Pharma Holdings website to reflect more up-to-date informaton about the company and report some recent changes we have made. All of this information will be addressed soon and we are confident everyone will be pleased with the new direction the company is taking for the future.

We thank each of you in advance for your patience and support of our mission.

Edward Klapp

CEO