February 9th, 2006
PRESS RELEASE 

PEGASUS/HEARTVIEW SIGNS MULTI-YEAR SALES AGREEMENT WITH CHINA FOR ITS GROUND-BREAKING HeartVue™ 6S SYSTEM TECHNOLOGY.

Deliveries Of The Company's Non-Invasive Heart Screening System Are Expected To Exceed $ 50 Million USD.

Palm Beach Gardens , Fla. , Business Wire, February 9th, 2006 Pegasus/Heartview LLC (Symbol: PGUZ-OTC) today announced that it has signed a sales agreement to market and distribute its HeartVue™ 6S System in China and southern Asia through the Pegasus PharmGroup and its marketing subsidiary, Pegasus Lifecare Inc.

Pegasus PharmGroup is a private, Richmond , B.C., Canada-based corporation which is not affiliated in any way with Pegasus Pharmaceuticals Inc. of Palm Beach Gardens , Florida . The exclusive sales agreement between the two companies covers a ten year period and includes the sales of a minimum 1,000 HeartVue™ 6S SystemsT per year for a cumulative total of 10,000 units or $ 50 million USD, focusing on the more than 20,000 major hospitals throughout China in concert with Pegasus Lifecare Inc. which has an extensive distributor network in China and southern Asia.

The HeartVue™ 6S System is an advanced screening technology for early, non-invasive screening of heart disease. The technology uses only 4 limb wires (6 standard ECG leads) from the patient's wrists and ankles. The device includes proprietary software that converts the electric conductivity of the cardiac tissue into a three dimensional color-coded visual portrait, which is simple for physicians to interpret. The ECV device allows testers to observe the condition of the heart muscle as well as the intensity of the heart stress load. The device immediately provides a portrait of the patient's heart and an electrocardiogram, the mainstay in the screening of acute and chronic heart disease (CHD).

Pegasus Pharmaceuticals Inc... of Palm Beach Gardens , Florida acquired a majority interest in Heartview LLC, ( Cleveland , Ohio ), which holds the worldwide patent, manufacturing and marketing rights of the HeartVue™ 6S System. An earlier version of this screening system has already been cleared for sale in Europe and there is a patent pending for the ECV device in the United States .

For more information, please contact Mr. Daniel P. Kesonen, Chairman & CEO of Pegasus Pharmaceuticals Inc., Palm Beach Gardens , Florida : (561) 626-9901. Email: info@pegasusbiosciences.com. Further corporate news may be viewed on the Company's new website: www.pegasusbiosciences.com

Safe Harbor :
This news release may include forward-looking statements within the meaning of Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United states Securities and Exchange Act of 1934, as amended with respect to achieving corporate objectives, developing additional project interests, the Company's analysis of opportunities in the acquisition and development of various project interests and certain other matters. These statements are made under the 'safe harbor' provisions of the United States Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements herein.