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Nutra Pharma Announces $9.6 Million Financing Agreement
August 18, 2005

Nutra Pharma Corp., a biotechnology holding company that owns rights to intellectual property related to the development of drugs for Multiple Sclerosis and HIV, has announced that they have entered into a stock purchase agreement with SBI Brightline XII LLC. The agreement obligates SBI to purchase, upon Nutra Pharma's election, up to 24,000,000 shares of common stock for an aggregate purchase price of $9.6 million. Additionally, SBI will be issued up to 6,000,000 warrants exercisable in the range from $0.30 to $0.50. If fully exercised, the warrants will provide the Company with an additional $2.4 million. The agreement requires registration of the shares with the Securities and Exchange Commission, which is expected to be completed in the fourth quarter of 2005.

The SBI agreement provides financing at the Company's election, without resets or pricing adjustments. By having a fixed price financing, the Company can elect to draw down the capital needed without the risks and uncertainties inherent in an equity credit line.

"We are excited to be working with SBI Brightline in ensuring that Nutra Pharma has the capital to move our business plan forward," commented Rik J. Deitsch, Chief Executive Officer of Nutra Pharma. "This financing provides us with the capital to meet our near-term budgets and the financial leverage to allow us to become revenue generating and fund the clinical trials of our biotech investments," he added.

SEC Disclaimer

This press release contains forward-looking statements. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements." Actual results could differ materially from those projected in Nutra Pharma's ("the Company") business plan. The Company's business is subject to various risks, which are discussed in the Company's filings with the Securities and Exchange Commission ("SEC"). The $9.6 million financing agreement with SBI Brightline XXI LLC should not be construed as an indication in any way whatsoever of the value of the Company or its common stock. The Company's filings may be accessed at the SEC's Edgar system at www.sec.gov. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company cautions readers not to place reliance on such statements. Unless otherwise required by applicable law, we do not undertake, and we specifically disclaim any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.


 
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