Osta Biotechnologies Inc. (TSX VENTURE: OBI) announces that at the annual and special meeting held on June 29, 2006, Osta's shareholders re-elected a Board of Directors comprised of Dr. Ajay Gupta, Dr. Andrew Karaplis, Dr. Aldo Baumgartner, Mr. Paul L'Archeveque, Mr. Leontis Teryazos, Mr. Richard Spizzirri, Mr. James W. Beckerleg and Mr. James H. Coleman. Dr. Gupta is the Chairman of the Board and Chief Executive Officer of Osta and Dr. Karaplis is the President. The shareholders also re-appointed WSBG LLP, Chartered Accountants, as auditors of the corporation.
