Biogenerics Consummates Joint Venture with Hydro Slotter Corporation and Plans Horizontal Drilling of California Well in March.

TORONTO -- - Utilizing Proprietary Hydro Slotter Technology Creating Additional Revenue Stream -

Biogenerics Ltd. (NQB:BIGN), focused on exploiting and distributing domestic gas reserves, today announced that the joint venture agreement between the Company and Hydro Slotter Corporation (HSC) has been consummated.

Biogenerics concurrently announced that the joint venture has commenced its first project on a well located in the Sacramento, California area, utilizing Hydro Slotter's proprietary technology.

According to the terms, Biogenerics will receive one hundred percent of the profits from each well the Joint Venture enters before payout, and will continue to receive 50% of the working interest after payout. Biogenerics previously announced it had formed a strategic alliance with Hydro Slotter by signing a Letter of Intent with Hydro Slotter on January 13, 2005.

HSC's projects have exponentially raised the amount of oil and/or gas from wells. HSC's operations on two idle wells in Kansas (one oil and one gas) increased production 600% and 300% respectively.

"Executives of our company have reviewed the scientific precepts of hydrojet slotter technology and entered the joint venture completely satisfied. The additional revenue stream, we believe, could be very lucrative," stated Gary Kelley, President and CEO of Biogenerics. "Using this technology, we will extract more hydrocarbons from the ground than conventional technologies, at an economical price. This is a paradigm that is equally important to investors as it is to the industry."

The Joint Venture is drilling on a candidate well that appears to be perfect for the hydrojet slotting excavation method. The well is located north of Sacramento, Calif., in the huge Grimes Gas field, and has been shut-in for over ten years. Under typical circumstances, it would be difficult to predict reserves of well life using conventional methods. This demonstration anticipates achieving commercial rates of pay in both previously perforated zones as well as new by-passed pay zones.

Safe Harbor 

The foregoing contains forward looking statements. For this purpose any statements contained in this document that are not statements of historical fact may be deemed to be forward looking statements. Without limiting the foregoing, such words a "may," "will," "believes," "estimates," "continue," or comparable terminology intends to identify forward looking statements. These statements by their nature involve substantial risks and uncertainties and actual results may differ materially depending upon a variety of factors stated in the Company's filings with the Securities and Exchange Commission.