AGREEMENT

            AGREEMENT made as of this 28th day of February, 2001 among MILESTONE
SCIENTIFIC, INC. ("MS"), VESTED MEDIA PARTNERS, INC. ("VMPI") and NEWS USA, INC.
("NU").

            1. NU will, during the term of this agreement, provide the following
advertising and promotional services to MS:

      a.    Prepare, write, print or otherwise publish and provide proof of
            placement of the articles and advertisements detailed below.

      b.    Prepare and cause publication of an aggregate of 60 tabloid pages
            and 60 timed radio segments of articles and advertisements for MS
            and its products and technology. For purposes hereof a tabloid page
            shall be a page containing 8 assorted size news articles per page
            and a timed radio segments shall be at least 60 seconds long. The
            editorial content of the tabloid pages and radio segments shall also
            be distributed to at least 5,000 Websites.

      c.    NU will provide to MS, within 10 days after the end of each calendar
            month, a detailed report as to newspaper, radio station and Website
            placements of the above material. The monthly reports will be
            accompanied by physical clippings from newspapers, air-checks from
            radio stations and other documentation showing the actual placement
            of articles and advertisements. The reports will also detail
            placements by DMA Market, specify the number of placements in that
            month and since the inception of this agreement and the "ad value"
            equivalent".

NU guarantees that the articles and advertisements in (a) and (b) will have at
least 72,000 placements in newspapers and radio stations, as well as parallel
distribution to Websites.

            2. MS hereby agrees to promptly comment on articles and ads
submitted to it and, after its comments are reflected, to promptly approve
finished copy to support NU in its placement activities. Without limitation of
the foregoing, upon receipt of notice from NU that placement is being delayed or
impeded by failure of MS to approve copy, MS will respond to such notice within
48 hours.

            3. In full payment for the services to be rendered by NU hereunder
MS will issue three-year Warrants to purchase 1,171,875 shares of Common Stock,
585,938 to NU and at NU's direction, 585,938 to VMPI. The Warrants will be
exercisable at the following prices

              $1.28 during the first 18 months of the Warrant Term

              $2.25 during the next 9 months of the Warrant Term

              $3.00 during the final 9 months of the Warrant Term

      The Warrants shall be non-transferable and the stock issued on exercise
      thereof shall be restricted stock and bear an appropriate restrictive
      legend. However, Milestone shall, promptly after the date hereof, file a
      Registration Statement with the Securities and Exchange Commission
      allowing the resale of the underlying shares and use its best efforts to
      make such registration effective at the earliest possible date.
      Notwithstanding any registration of the shares, VMPI shall not sell any of
      the underlying shares for a period of one year hereafter and NU shall not
      sell any shares for a period of 4 months hereafter. The lock-up shall be
      waived with respect to 50% of the shares held by each of VMPI and NU, if
      the MS Common Stock trades at prices equal to or greater than $6.25 per
      share for a period of 20 consecutive

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      trading days. The Warrants shall not have any "cashless" exercise
      provision but may be exercised from time to time in the discretion of NU
      and VMPI without limitations as to the number of shares covered in any
      exercise, except that twenty-five percent (25%) of the Warrants held by NU
      and VMPI shall not be exercisable until MS Common Stock trades at a price
      of at least $2.25 for a period of 20 consecutive trading days.

            4. NU shall have the right, in its discretion, during the fourth
month of this agreement, to halt distribution of articles and ads until the
ninth month after execution hereof if the average daily closing price during the
first 10 trading days of that 30 day period does not exceed $2.25, provided that
NU has previously met 1/3 of its total commitment to prepare articles and ads
for client approval. While NU has halted distribution 2/3 of the Warrants
granted hereunder to NU and VMPI shall not be exercisable. NU shall recommence
performance of its obligations whenever the average closing price for a 10-day
period exceeds $2.25. If at the end of the ninth month the stock has not
averaged a $2.25 closing price for a 10 day period NU can either terminate its
obligations hereunder and forfeit 2/3 of the Warrants or resume performance
completing 1/2 of the unperformed obligation in 3 months and the balance in 6
months and retain its Warrants, in either case upon written notice to Milestone
not more than 5 days after the end of such ninth month. If, following a halt in
distribution by NU, NU recommences performance, then the Warrant Exercise Price
shall be re-set to be the greater of the prices set forth in paragraph 3, above
or the average closing price during the 10 days prior to the resumption of
performance by NU.

            5. The term of this agreement shall be 18 months commencing on the
date hereof.

            6. This agreement represents the entire agreement between the
parties and all prior understandings or discussions are merged herein. This
agreement shall be interpreted under the laws of the State of New Jersey and any
disputes among the parties shall be resolved in the courts of that State.

            IN WITNESS WHEREOF the parties have executed this agreement the day
and year first above written.

                                        MILESTONE SCIENTIFIC, INC.


                                        by______________________________________
                                               Leonard Osser, Chairman & CEO

   VESTED MEDIA PARTNERS, INC.


   By:_______________________________
         Kevin F. Sherlock, President

   NEWS USA, INC.


   by:_______________________________
         Rick Smith, CEO