BOHEMIA, N.Y., Aug. 7, 2006 (PRIMEZONE) -- Helena R. Santos, Chief Executive Officer of Scientific Industries, Inc. (OTCBB:SCND), announced that the Company proposes to expand its operations through an acquisition of a privately-held producer and distributor of quality catalyst research instruments. Scientific Industries has agreed in principle to acquire the privately held company for a consideration to consist of $400,000 in cash, 125,000 shares of common stock and a five year earn-out based on profitable revenues. Consummation of the acquisition will be subject to the negotiation and execution of a definitive agreement that will contain certain conditions of purchase, including the execution of a long-term employment agreement by its director of sales and marketing. No assurance can be given that an agreement will be executed or that the acquisition will be effected.
