Reference Letters

Binax Inc.

March 2000

To Whom It May Concern:

We are pleased to provide our positive recommendations for Stewart Rosenberg, President of Bio-Investigations Ltd. Our association with Stewart covered a six-month period beginning October 1, 1999 during which time Stewart was retained as a consultant with the specific task of introducing Binax to decision making executives in the major pharmaceutical companies of the world. Our company had developed diagnostic tests for rapid identification of selected bacterial pneumoniae and believed the technology was relevant to appropriate application of antibiotics available from many of the large drug companies.

Stewart has been successful in arranging a number of meetings for Binax with high level pharmaceutical executives. Many of these industry leaders were already known to Stewart, so the process has progressed smoothly with some initial collaborations already established. Throughout the effort, Stewart has conducted himself in a professional manner and has been highly diligent in his follow up of demonstrated interest. Accordingly, we certainly recommend Stewart for future opportunities based on his focused efforts for Binax.

Roger N. Piasio
President & CEO

Myron C. Hamer