(Income generated on 25% revenue growth) SAN JOSE, Calif., May 15 /PRNewswire-FirstCall/ -- Human Pheromone Sciences, Inc. (OTC:EROX) (BULLETIN BOARD: EROX) ("HPS" or "the Company") today announced results for the first quarter ended March 31, 2007. Net revenues of $334,000, represented a 25% increase from the revenues of $266,000 in the prior year period, and resulted in a net income of $24,000 ($.01 per share) as compared with a net loss of $70,000 ($.02 per share) for the same period of 2006. At March 31, 2007, the Company reflected cash balances of $1,859,000 compared with $1,941,000 in cash at December 31, 2006 and $329,000 in cash at the end of the first quarter of 2006. "The first quarter increase in net revenue was primarily attributable to the recognition of revenue under the License Agreement signed last year with a Johnson & Johnson company. We have a dual focus in the current year - the generation of additional licensing and supply activities, and increasing product development spending for two additional compounds that we have identified and isolated that are now in different stages of development. Generating additional revenues under new licensing agreements will not only grow our business, but will reduce the effect of erratic purchasing patterns by our current major licensee. With respect to the new compounds in which we are investing, we are excited about the results we have seen to date, and the potential for these novel compounds. We expect to file for patent protection on one of the compounds in the near term", a Company spokesperson indicated. Human Pheromone Sciences, Inc. is a technology-based company, whose proof- of concept products included prestige-priced fragrances and toiletries and environmental products sold under the Natural Attraction(R), REALM(R), innerREALM(R) and EROX(R) trademarks. These products contain mood-enhancing compounds, whose efficacy has been validated at leading universities around the world, and whose use is covered under United States and foreign patents. The Company is also involved in research and product development efforts on new compounds that have been previously identified as stimulating the emotional centers of the human brain. Further information is available on line at http://www.erox.com/. The statements in this news release may contain forward-looking statements that involve risks and uncertainties that could cause results to differ from predicted results. Further information on factors that could affect the Company's results is detailed in the Company's annual report to shareholders on Form 10-KSB for the year ended December 31, 2006, and Form 10-QSB for the quarter ended March 31, 2007, as filed with the Securities and Exchange Commission. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements. HUMAN PHEROMONE SCIENCES, INC. Condensed Balance Sheets (Dollars in thousands) March 31, December 31, 2007 2006 (Unaudited) Assets Cash and cash equivalents $1,859 $1,941 Accounts receivable 59 39 Inventories, net 54 75 Other current assets 20 18 Property and equipment, net 1 2 Total assets $1,993 $2075 Liabilities and shareholders' equity Accounts payable $67 $30 Other current liabilities 88 114 Deferred income - current 736 846 Deferred income - non-current 696 721 Common stock 20,883 20,865 Accumulated deficit (20,477) (20,501) Total liabilities and shareholders' equity $1,993 $2,075 HUMAN PHEROMONE SCIENCES, INC. Condensed Statements of Operations (Unaudited) (Dollars in thousands, except per-share data) Three months ended March 31, 2007 2006 Net revenues $334 $266 Cost of goods sold 107 53 Research and development 12 24 Selling, general and administrative 208 260 Income (loss) from operations 7 (71) Other income, net 18 1 Provision for income taxes 1 - Net income (loss) $24 $(70) Income (loss) per share, basic: $0.01 $(0.02) Income (loss) per share, fully diluted: $0.01 $(0.02) Weighted average common shares outstanding- Basic 4,152 4,152 Weighted average common shares outstanding- Fully diluted 4,782 4,152 Net income (loss) per share is based on the weighted average number of common shares and common share equivalents outstanding during each period. Certain common stock equivalents are excluded when their effect would be anti- dilutive. DATASOURCE: Human Pheromone Sciences, Inc. CONTACT: William P. Horgan, Chairman, CEO, +1-408-938-3030 Web site: http://www.erox.com/

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