BioReference Laboratories Reports Horizon Blue Cross Blue Shield Ancillary Services Agreement Termination; Laboratory Intends to Contest Termination.

ELMWOOD PARK, N.J. -- BioReference Laboratories, Inc. (NASDAQ: BRLI) announced today that it has received a letter from Horizon Blue Cross Blue Shield of New Jersey (Horizon) terminating its in-network provider relationship with BRLI effective March 31, 2007. Sources indicated that BRLI was one of two New Jersey based laboratories that were dropped from the panel which otherwise remained intact. BRLI has been an authorized provider for Horizon and its predecessors since BRLI became a clinical laboratory twenty years ago. BRLI announced that there was no prior notice from Horizon regarding the termination, no negotiation nor any indication of any kind from Horizon that the change in the authorized panel was even being contemplated.

Marc D. Grodman, MD, CEO, stated: "The recent agreement by Horizon and LabCorp will essentially leave only one full service clinical laboratory authorized to provide laboratory testing to Horizon subscribers. Unlike other recent managed care decisions in the area where competition was maintained to assure the best interests of subscribers, this situation was different. We are a New Jersey corporation and we have always been proud to service the citizens of New Jersey with what we believe to be the finest service and support available for diagnostic services. It is our intention to contest this termination. While this business may have represented approximately 5% of our FY 2006 revenues, the potential impact of this change, if it is in fact implemented, is unclear because of uncertainty on how the changes will be put into effect, the ramifications of using out of network providers that Horizon will place on its subscribers along with our own organic growth across all business lines. Therefore we are satisfied that the overall effect of this decision will not require us to make any change to the guidance we gave last month in our Fourth Quarter 2006 earnings report. We are far more concerned with the deleterious effect that this decision may have on healthcare in the State of New Jersey. The agreement by Horizon and LabCorp to virtually eliminate competition among laboratory providers means that Horizon subscribers will no longer benefit from the best possible service, support, and technological innovation that they have paid for and which competition assures. We believe that this agreement will be detrimental to the public interest and raises troubling issues of unfair business practices. We have no intention of allowing this decision to be implemented without challenge. We have asked Horizon to rescind their decision; if they fail to do so, we will pursue all avenues of relief available to us. This decision is contrary to the best interests of the patients that we serve and we intend to fight for the rights of our physician clients and their patients."

About BioReference 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 as well as other laboratories, which includes laboratory reporting and ordering, as well as laboratory to physician communications and cumulative reporting, through CareEvolve, its web-based healthcare portal.

This press release contains certain "forward-looking" statements, as defined in the United States Private Securities Litigation Reform Act of 1995, that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors are detailed from time to time in the Company's filings with the regulatory authorities having jurisdiction.