NSP Pharma Corp. Operations Update

PICKERING, ONTARIO--(CCNMatthews - Aug. 3, 2006) - Further to NSP’s previous news release of yesterday announcing the appointment of Schwartz Levitsky Feldman Inc. as Receiver and Manager for Naturale Science Pharma Inc. (“NSPI”), NSP wishes to advise that the Receiver and Manager has received Notice that the Trademark Licence Agreement (the “Agreement”) dated November 26, 2004 made between Naturale Science Inc., as Licensor, and NSPI, has been terminated by the Licensor. The Licensor is a private Ontario company beneficially owned by Sergio Martines, who resigned as President and CEO of NSP on July 27, 2006, and a company controlled by Vincenzo Guerrieri, Chairman of NSP. NSPI is a wholly owned subsidiary of NSP.

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