Bio-Reference Laboratories, Inc. Acquires Molecular and Cytogenetics Laboratory.

ELMWOOD PARK, N.J. -- Bio-Reference Laboratories, Inc. (NADSAQ: BRLI) announced that it has acquired the molecular and cytogenetics facilities from Cancer Genetics, Inc. (CGI) of Milford, MA for approximately $2.5M. The transaction includes the commercial diagnostic laboratory facilities and all technical personnel at the Milford, MA location. Ramana V. Tantravahi, Ph.D., will continue to direct the operations at the laboratory as Scientific Director. Bio-Reference has had a close working relationship with CGI for the past few years and has been utilizing the clinical diagnostic services of CGI for most of its Chromosome Analysis testing and some of its other molecular testing. CGI was originally founded in 1999 by Dr. R.S.K Chaganti, a world renowned leader in cancer genetics. CGI will continue to operate as a separate and private entity focused on developing and marketing DNA probes.

Dr. Tantravahi is acknowledged as a renowned authority in the field of cytogenetics. He received his doctorate from Harvard in 1967 and his academic appointments include 8 years at the Columbia University, College of Physicians and Surgeons, and 17 years at Harvard Medical School. His hospital appointments span 17 years at both Brigham's and Women Hospital in Boston and Dana-Farber Cancer Institute in Boston. He is well-published in journals and books and sits peer review for several publications and journals. He will be assisted by his long-time Lab Director, Jeannette Le, who has been closely associated with Dr. Tantravahi at Dana-Farber and CGI.

Marc D. Grodman M.D., President noted, "Genetic and molecular factors in Oncology has been well documented and Chromosomal Analysis is critical for the characterization of malignancies. CGI has a superb deserved reputation in this area and is among the nation's leading centers for these highly specialized and difficult analyses. We look forward to a continuing relationship with Dr. Chaganti and the entire CGI team in the future as they continue to develop innovative products in the field of cancer genetics. Our initiative in oncology remains a keystone to our strategic vision and bringing the best talent to Bio-Reference is a high priority... We have talked for some time about the fact that we will seek acquisitions that are both accretive and synergistic. The diagnostic laboratory services of CGI achieve both of those purposes. We have used the services of CGI for the past several years and we are extremely pleased to bring those services in house. Dr. Tantravahi is highly respected and adds to the quality and prestige of the oncology team that we have put together at Bio-Reference. With the addition of the laboratory services purchased from CGI, we now provide the full gamut of diagnostic testing for hematological malignancies within our own facilities. With this acquisition, we have improved our ability to grow and service a wider professional and geographical customer base and we intend to push those boundaries to the full extent possible."

About Cancer Genetics, Inc.

Cancer Genetics Inc., a private company, was founded in 1999 by Dr. R.S.K Chaganti, a world renowned leader in cancer genetics. CGI is dedicated to understanding the genetic causes of cancer and developing products and services to disease diagnosis and prognosis. CGI's primary focus is to develop and bring to market DNA probes for oncology, providing the cancer community with better tools for diagnosing and monitoring the disease status (including evaluating treatment protocol efficacy) of Lymphomas, Leukemias, Multiple Myeloma, and Cervical Cancer. CGI also operates a Genomic Services Laboratory servicing the Pharmaceutical and Drug and clinical research markets, offering G-band karyotyping, Spectral Karyotyping (SKY), FISH, Comparative Genomic Hybridization (CGH), and FISH mapping to the biopharmaceutical and research communities. Website: www.cancergenetics.com

About Bio-Reference Laboratories, Inc.

The Company is the largest independent regional clinical laboratory in the Northeast and has major market positions in physician offices, nursing homes and correctional institutions. The Company is a full service clinical laboratory with specialty capability, especially in the areas of genomics, oncology, correctional health, and complimentary medicine. PSIMedica, a business unit of the Company, is a clinical knowledge management (CKM) organization offering an array of information solutions for reducing healthcare costs and improving quality performance that are based on a flexible, scalable software analytical engine that utilizes all available source information, including claims data, enrollment data, prescription data and laboratory data. The Company provides a comprehensive connectivity solution to physicians, which includes disease management, laboratory reporting and ordering, as well as claims and eligibility processing through CareEvolve, its web-based healthcare portal.

Statements included in this release that are not historical in nature, are intended to be, and are hereby identified as "forward-looking statements". Statements looking forward in time are included in this release pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to be materially different from any future performance suggested herein.

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