Ten Grants of $150 000 Each Awarded for Research on 'Spiritual Capital' By Metanexus Institute

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Headquartered in Houston, Texas, Sharps is a leading developer of
superior solutions for improving safety, efficiency and costs related
to the proper disposal of medical waste by industry and consumers.
http://www.

Community in Christianity is perhaps the most important aspect relationships amongst believers, and perhaps the core idea behind Christian unity.

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This action by the USPS does not apply to Sharps and in no way
affects any postal authorizations or the business operations of
Sharps. All 13 grantees will meet annually in 2006 and 2007 to discuss
their projects and begin building the network for this new field of study .

Christian Community is different wherever you go, with different cultural norms based on locale, ideology , theology, and age.

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's common stock trades on the OTC Bulletin
Board under the symbol SCOM.
(Logo: http://www."
Following a call for proposals, 43 finalists were chosen to submit full
proposals from a pool of more than 560 applicants, representing many of the
top research institutions in the United States and abroad. The aim of the program is
to catalyze the development of this interdisciplinary research field, which
may become a vital new field in the social sciences.

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Sharps welcomes the review and testing by the
USPS, or any regulatory organization, of all containers used in the
transportation of medical waste. For further information, please
contact Christopher Stawski at 215-789-2200 or spiritualcapital@metanexus.net. Projects include the Local
Societies Initiative, the Templeton Research Lectures, and topical
interdisciplinary research projects such as the Spiritual Transformation
Scientific Research Program, Spiritual Capital Research Program, and the
Templeton Advanced Research Program as well as other endeavors.

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com/cgi-bin/prnh/20050324/PHTH031LOGO )
These grants from the Metanexus Institute are supported by generous
funding from the John Templeton Foundation to help develop a new
interdisciplinary field of "Spiritual Capital" research.

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The Company's
products and services represent cutting edge solutions for a variety
of industries dealing with the complexity of managing regulatory
compliance, environmental sensitivity, employee and customer safety,
corporate risk and operating costs related to medical waste disposal. Some of these risks include,
without limitation , the company's ability to educate its customers,
development of public awareness programs to educate the identified
consumer, managing regulatory compliance and/or other factors that may
be described in the company's annual report on Form 10-K and/or other
filings with the Securities and Exchange Commission. PHILADELPHIA, Ten grants of $150,000 each for
high-level research in the emerging field of "Spiritual Capital" have been
announced by Kimon H.

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stated, "We applaud the actions of the USPS and support strict
enforcement of USPS mailing to ensure the safety of product users and
postal service workers. Wherever used, the words "estimate", "expect", "plan",
"anticipate", "believe", "may" and similar expressions identify
forward-looking statements. Future
regulatory , economic and industry trends that could potentially impact
revenues and profitability are difficult to predict.
Project summaries may be found online at
http://www.
http://www.

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Kunik , Chairman,
Chief Executive Officer and President of Sharps Compliance Corp. Metanexus is
a leader in a growing network of individuals and groups exploring the dynamic
interface between cosmos, nature , and culture in communities and on campuses
throughout the world. Metanexus leads and
facilitates over 300 projects in 36 countries.

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All of the Company's USPS permits and authorizations continue
to be fully valid and all Sharps mail-back packages will continue to
be accepted by the USPS. The Principal Investigators heading these teams and their
projects are:

Laurence Iannaccone, George Mason University: Creating an "Ecology" for
the Study of Religion, Economics, and Spiritual Capital

Timur Kuran, University of Southern California: The Role of Religion in
the Economic Performance of Civilizations

Robert Woodberry, University of Texas at Austin: Project on Religion and
Economic Change

Each of these three projects began in March 2005 and is 30 months in
duration .templeton.

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Burton J.

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Sharps primary markets include healthcare, agriculture, hospitality,
professional , industrial, commercial and retail.
The information made available in this press release relating to
recent actions by the USPS and other related matters contain certain
forward-looking statements which reflect Sharps Compliance Corp. Any such forward-looking statements are
subject to risks and uncertainties and the company's future results of
operations could differ materially from historical results or current
expectations if certain regulatory actions were taken that ultimately
proved to be adverse to the Company. The company
assumes no obligation to publicly update or revise its forward-looking
statements even if experience or future changes make it clear that any
projected results express or implied therein will not be realized. The Spiritual Capital Research Program is designed to
fund innovative research that could lead to new understandings of religion's
role in economic , social and political life.net/spiritual_capital. Just 100 years ago Max
Weber published his provocative work "The Protestant Ethic and the Spirit of
Capitalism.

The Metanexus Institute advances scientific research, education and
outreach on the constructive engagement of science and religion .org

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Sharps is a leading proponent and participant in the development of
public awareness and solutions for the safe disposal of needles,
syringes and other sharps in the community setting .
Sharps Compliance Corp.

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Business Editors/Health Editors

HOUSTON----Sharps Compliance Corp. Since the inception of the Company, we have
been committed to stringent independent testing of all of our Sharps
Disposal by Mail(TM) products. We are proud to say that none of our
products are affected by the recent action of the USPS to revoke
non-complying mail-back packages.

The Spiritual Capital Research Program is interested in supporting high-
level, impartial scholarship on the contribution of religion - both for good
and for ill - to economic and social developments ."
Since then, social scientists have vigorously debated the concept of
social capital, but spiritual capital - a sub-set of the field - remains
relatively understudied.

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Only in recent years have leading scholars, including
Nobel laureate economists Gary Becker and Robert Fogel and political
scientists John DiIulio and Robert Putnam, called renewed attention to the
effects of spiritual and religious practices, beliefs and institutions on
economics, politics and societies.

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The revoked mailing authorization numbers are
USPS-050-A (2-2G-V2), USPS-052-A (2-2G-V2) and USPS -058J (GRP 2-2G).
"It is essential in today's world that scholars take seriously the broader
significance of spiritual capital," says Sargeant.

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The Company is confident in the
integrity of its products and is committed to providing its customers
with the highest quality USPS authorized products and services that
our customers have come to expect.
Commenting on the announcement, Dr.'s
current view of its products and compliance with certain postal
authorizations. Sargeant, the director of the Spiritual Capital Research
Program based at the Metanexus Institute on Religion and Science. The ten new
Spiritual Capital grantees, representing disciplines such as economics,
history, political science, and sociology, were selected from these finalists
following a rigorous peer review process . Metanexus sponsors dialogue groups, lectures,
workshops, research, courses, grants, and publications . A membership
organization, Metanexus hosts an online magazine and discussion forum with
over 180,000 monthly page views and 8000 regular subscribers in 57 different
countries.

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Sharps Compliance Corp. Announces Sharps Disposal by Mail Industry Developments

"Although the social
sciences have often minimized the importance of religion, there is now a
growing openness among scholars to consider how trust, behavioral norms and
religion can profoundly shape economic, political and social developments .net

The mission of the John Templeton Foundation is to pursue new insights at
the boundary between theology and science through a rigorous, open-minded and
empirically focused methodology , drawing together talented representatives
from a wide spectrum of fields of expertise.

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Sharps , as the leader in the sharps disposal by mail industry,
engages in its own independent package testing to ensure its customers
and postal workers that all mail-back packages meet stringent USPS
packaging standards. Although religion and
spirituality are rich sources of personal meaning, they also have profound
public significance.

This category is for the promotion of ideas of how a Christian Community can work.

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The Principal Investigators awarded grants and their projects are:

Peter Berger, Boston University: Spiritual Capital in Developing Societies

Wendy Cadge, Bowdoin College: Comparing Spiritual and Other Forms of
Social Capital: Lessons from the Immigrant Experience

Robert Dowd, University of Notre Dame: Religiosity and Political Culture:
Christians, Muslims and Spiritual Capital in Sub-Saharan Africa

Daniel Hungerman, University of Notre Dame: Religious Capital and Public
Policy in the 20th Century

Sriya Iyer, University of Cambridge: Innovation and the Resilience of
Religion

Michael Kremer, Harvard University: The Impact of the Hajj

John Levi Martin, University of Wisconsin-Madison: Structures of Social
and Spiritual Capital in Religious and Nonreligious Groups

Gary Richardson, University of California, Irvine: A Pious and Profitable
Mystery: Guilds, Purgatory, Reformation, the Multiplication of Religious
Denominations, and the Evolution of Industrial Society in Late-Medieval and
Early Modern England

David Sikkink, University of Notre Dame: The Dynamics of Spiritual Capital
in US Congregations

Fenggang Yang, Purdue University: Faith and Trust in the Emerging Market
Economy in China

These funded projects were launched in January 2006 and are up to 24
months in duration.

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During the month of May 2005, the United States Postal Service
( "USPS") revoked the mailing authorizations, previously issued to
three other companies, for several sharps medical waste mail-back
containers. The USPS revoked the mailing authorizations because
testing revealed that the containers did not satisfy strict USPS
packaging standards."
"The mutual interaction of religion and economics is an important, but
neglected area for research and public policy," says William Grassie,
executive director of the Metanexus Institute.metanexus.

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If a customer has any questions
about the continued authorization of our products or questions about
our products , please contact our customer support department at
800-772-5657.newscom.

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"The newly funded studies will
go a long way towards illuminating these dynamics and providing insights to
the benefit of humanity.
In spring 2005, three scholars each received founding grants of $500,000
to lead teams of researchers in the first projects of the Spiritual Capital
Research Program.
In "The Wealth of Nations," Adam Smith raised key questions for the
economic analysis of religion and looked at the effects of competition among
religions and the dangers of government of religion.

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and subsidiaries (OTCBB:SCOM) ("Sharps" or the "Company"), leading
providers of cost-effective medical waste disposal solutions for
industry and consumers, today announced developments in the sharps
disposal by mail industry. As with the Spiritual Capital Research Program's initial
grants, awarded in 2005 , the results of this new research will be disseminated
through scholarly and lay publications, conferences , speaking engagements and
websites.

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