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Biogenerics Reports on Current Status and Forward Momentum; Company Files Form 15C211, Commences First Project with Joint Venture Partner Hydro Slotter Corporation and Identifies Potential Acquisition Candidate.

CARSON CITY, Nev. -- Biogenerics Ltd. (NQB:BIGN), focused on exploiting and distributing domestic gas reserves, today announced that the Company, in line with its strategic growth objectives, filed its Form 15C211 with the Securities and Exchange Commission for the fiscal year ended December 31, 2004.

Concurrently, following its recently announced strategic alliance with Toronto-based, Hydro Slotter Corporation, Biogenerics plans to start its first joint venture project in early March. This project, the Company expects, will be the first of many in fiscal 2005, which possesses the potential to garner significant revenue and bottom-line results. Details of the project will be released upon its inception.

Additionally, Dr. Ian Colquhoun, Biogenerics' most recent addition to their consulting team and a renowned geological consultant, has identified a potential acquisition candidate and is in the midst of a thorough due diligence process.

"It is our intent to keep our shareholders updated on our status and progress," stated Gary Kelley, President and CEO of Biogenerics. "The filing of the 15C211 represents a milestone for the Company as we forge ahead to keep financials current in order to file our Form 10 in the not too distant future, clearly cognizant of the importance of listing on the Over-the-Counter Bulletin Board or other exchange."

"At this point in time, it is not prudent to discuss, in detail, the planned project with Hydro Slotter or the potential acquisition candidate for competitive reasons. However, we felt it important to inform the investment community of the Company's record progress in both areas and its intention to maximize on all of its well-thought out relationships. Clearly, the focus is to execute on our plan to position Biogenerics in the domestic oil and gas arena, which is the focus of the Company's efforts."

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.
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Publication:Business Wire
Date:Feb 1, 2005
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