June 9th, 2008
PRESS RELEASE:

PEGASUS RECEIVES FIRST LARGE PURCHASE ORDER FROM COMMANDER INTERNATIONAL FOR ITS INNOVATIVE, BIOLOGICAL TOXIC MOLD CONTROL PRODUCT.

PALM BEACH GARDENS, FL -- (MARKET WIRE)

Palm Beach Gardens, FL, Monday, June 9th, 2008, Market Wire-Pegasus Pharmaceuticals (Symbol:  PGUZ-Pink OTC Market) today announced that it has received a large, initial order for its new, laboratory-proven biological toxic mold control product.

The Company is now fulfilling the order consisting of 15,000 units  for Commander International Inc, its first major distributor (See Press Release dated March 27th, 2008, titled “Pegasus Files Patents…”) which will market the product under the brand name, “Mold & Mildew Doctor” (MMD). The receipt of this initial purchase order marks the first time that the product has been manufactured in commercial quantities.  The subsequent scaled up production protocol has been successfully developed and rigorously tested by an independent laboratory.  Upon receipt of the product, Commander International will implement an aggressive marketing program to penetrate retail markets throughout North America, as well as the multi-billion dollar mold remediation market.

 Pegasus’ distributor is also working in collaboration with one of the world’s leading paint manufacturers to create a mold and mildew resistant, environmentally-friendly paint, which will be a world first in the product category.  Commander International will also send initial product quantities to establish worldwide distributorships, starting with such countries as Argentina, Bangladesh, China, India and the United Kingdom.

After recent laboratory tests, MOLD & MILDEW DOCTOR™ demonstrated an extraordinary 100% efficiency (0% mold growth) over a 100 day period.  It outperformed four other leading U.S. anti-mold products.  MMD’s active ingredients are non-toxic, biodegradable and are naturally occurring.  It represents a breakthrough in anti-microbial, anti-fungal protection because it not only removes black mold infestation, it also cleans and disinfects surfaces, preventing further mold spore growth.

We adhere to the statutes and provisions of the Safe Harbor Act.

For more information, please contact:

Paul Davey
Investor Services
(778) 389-0915
Email: paul@pegasusbiosciences.com

Daniel P. Kesonen
Chairman & CEO
Pegasus Pharmaceuticals Inc.
Palm Beach Gardens, FL
(561) 626-9901
Visit the Company's website at: www.pegasusbiosciences.com