CyGene Laboratories Warns Foreign Investors of Fraudulent "Reloading" Scheme by Alleged Brokerage Firms in Europe.

CORAL SPRINGS, Fla. -- CyGene Laboratories Inc. (OTC:CYGE) ("the Company") announced today that it has been made aware of fraudulent schemes against its overseas investors. In one form of this fraud, brokerage companies allege that CyGene is soon to be acquired and are offered much higher than market prices for their shares. Unfortunately, the shareholders that relinquish their stock certificates to these brokerage firms never receive any monies and the shares are sold indiscriminately into the market, driving down the price of the Company stock.

Martin Munzer, CyGene's president and CEO, said, "I very much regret that the Company and its shareholders have fallen victim to this fraud, but there is not much that we can do other than to warn our investors of these activities. We encourage our shareholders to be extremely cautious when approached in this manner and to seek advice from a professional prior to engaging in a transaction of this type."

For more information about CyGene Laboratories and its products and technologies, visit the Company's Web site at www.CyGeneDirect.com.

About CyGene Laboratories Inc.

CyGene Laboratories Inc., based in Coral Springs, Florida, is a biotechnology company focused on introducing genetic predisposition and diagnostic testing into the general population. CyGene's scientific base rests

on its DNA Haystack Processing technologies, which it has been developing since 1995. CyGene currently markets five DNA predictive genetic tests direct to consumers and through physicians and other healthcare practitioners.

Forward-Looking Statements:

The statements made in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). Additionally words such as "seek," "intend," "believe," "plan," "estimate," "expect," "anticipate" and other similar expressions are forward-looking statements within the meaning of the Act. Some or all of the results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include, but are not limited to, when or whether the audits of our financial statements will be completed and audit opinions issued, due to unforeseen circumstances or unforeseen issues that may arise during the course of such audits. CyGene Laboratories Inc. has no duty and undertakes no obligation to update such statements. You should independently investigate and fully understand all risks before making investment decisions.