MSS Merrill Lynch Merrill Lynch Strategic Return Notes Linked TO The Select 10 Index Structured Product

LIVINGSTON, N.J., Aug. 10 /PRNewswire-FirstCall/ -- Milestone Scientific Inc. (AMEX:MSS), which develops, manufactures and markets 'intelligent' computer controlled local anesthetic delivery systems, today announced that it will host an investor conference call to discuss its second quarter operating results on Monday, August 14, 2006 at 4:30 pm EDT. Shareholders and other interested parties may participate in the conference call by dialing 888-889-5345 (international/local participants dial 973-935-8516) and referencing the ID code 7734099, a few minutes before 4:30 p.m. EDT on Monday, August 14, 2006. A replay of the conference call will be available two hours after the completion of the conference call from August 14, 2006 until August 21, 2006 by dialing 877-519-4471 (international/local participants dial 973-341-3080) and entering the conference ID 7734099. About Milestone Scientific Inc. Milestone Scientific Inc. is the developer, manufacturer and marketer of CompuMed(R) and CompuDent(R) computer controlled local anesthetic delivery systems. These systems comprise a microprocessor controlled drive unit as well as The Wand(R) handpiece, a single patient use product that is held in a pen-like manner for injections. The Company also sells the SafetyWand(R), which incorporates engineered sharps injury protection features to aid in the prevention of accidental needlesticks. Milestone has also developed proprietary consumer (Ionic White) and professional (CoolBlue) teeth whitening systems that were introduced to the market in early 2005. Milestone has also received broad United States patent protection on CompuFlo(TM), an enabling technology for computer controlled, pressure sensitive infusion, perfusion, suffusion and aspiration that provides real time displays of pressures, fluid densities and flow rates. CompuFlo advances the delivery to and/or removal from patients of local anesthesia, medications and other fluids, and the Company is pursuing market opportunities in a variety of medical and dental applications. The Company is headquartered in Livingston, New Jersey, and its common stock trades on the American Stock Exchange under the symbol "MSS". CONTACT Leonard Osser, CEO Milestone Scientific Inc. (973) 535-2717; (973) 535-2829 (Fax) Web site: http://www.milesci.com/ DATASOURCE: Milestone Scientific Inc. CONTACT: Leonard Osser, CEO of Milestone Scientific Inc., +1-973-535-2717, or fax, +1-973-535-2829 Web site: http://www.milesci.com/

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