Bio-Extraction Inc.
TSX VENTURE : LCC.P
TSX VENTURE : BXI

Bio-Extraction Inc.

February 11, 2008 08:00 ET

BioExx Receives 2008 North American Frost & Sullivan Award for Technology Innovation

TORONTO, ONTARIO--(Marketwire - Feb. 11, 2008) - Bio-Extraction Inc. (TSX VENTURE:BXI) ("BioExx") is pleased to announce that it has been named recipient of the 2008 Frost & Sullivan North American Technology Innovation Award in the field of Oilseed Extraction, for the development of its proprietary extraction technology that enables the high-yield extraction of oil, meal, and protein from oilseeds.

Frost & Sullivan's Technology Innovation Award is bestowed, on an unsolicited basis, upon a company (or individual) "that has carried out new research, which has resulted in innovation(s) that have or are expected to bring significant contributions to an industry in terms of adoption, change, and competitive posture. This award recognizes the quality and depth of a company's research and development program as well as the vision and risk-taking that enabled it to undertake such an endeavour."

According to Frost & Sullivan, to identify the award recipient, their Analyst Team tracks innovation in key hi-tech markets. The selection process includes primary participant interviews and extensive primary and secondary research via the bottom-up approach. The Analyst Team reviews candidates based on their own research, and on the basis of a set of qualitative and quantitative measurements. The Analysts also consider the pace of research and technology innovation, and the significance or potential relevance of the innovation to the overall industry. The ultimate award recipient is chosen after a thorough evaluation of this research.

Frost & Sullivan, the Global Growth Consulting Company, partners with clients to accelerate their growth. The company's Growth Partnership Services, Growth Consulting and Career Best Practices empower clients to create a growth focused culture that generates, evaluates and implements effective growth strategies. Frost & Sullivan employs over 45 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 30 offices on six continents. For more information about Frost & Sullivan and their Growth Partnerships, visit www.frost.com or www.awards.frost.com.

"We are very pleased to receive this award from such a prestigious and respected company as Frost & Sullivan. We view this as yet another validation of the strength and uniqueness of our extraction technology and the business model we have employed," said Chris Carl, BioExx Chief Executive Officer. "For a small company that is now moving into full commercial exploitation of its technology, to be recognized as a technology leader in an industry as large as Protein Concentrates and Oilseed Extraction is certainly quite an honour. With ever-growing confidence, we look forward to the very profitable application of this technology through the construction and operation of our Saskatoon canola processing facility in the coming year."

Other News

The Company would also like to confirm that the recent large volume and "block" trades of its shares on the TSX Venture Exchange did not involve Founder and CEO Chris Carl or any other Officer of the Company. Since Mr. Carl holds more than 10% of the outstanding shares of the Company, any sales by Mr. Carl would be preceded by a Press Release announcing such. All other Insiders would be subject to normal reporting of such transactions through the System for Electronic Disclosure for Insiders (SEDI) system.

BioExx also announces that it has terminated the services of Agoracom Investor Relations Corp., effective February 28, 2008. BioExx has been pleased with the quality of service from Agoracom but will now make most Investor Relations information available on its own website at www.bioexx.com.

About Bio-Extraction Inc.

The global demand for ever higher food value from agriculture is growing at an unprecedented pace, driven by population growth and economic growth. At the same time, food supply constraints are increasing, due to urban development of arable land, alternate uses of crops for bio-fuel and other industrial purposes, and many crops having already maximized yields. The result is an alarming imbalance between over-demand and under-supply.

BioExx owns patented technology which allows for much lower temperatures to be used for the extraction of active ingredients and oils from biomass. This makes BioExx particularly well suited to process oilseed crops in a manner that allows for the production of much higher value additives to the food chain, in the form of higher yields of high value proteins which tend to be temperature sensitive. While forming just a small, but very valuable part of the solution to prominent global agricultural problems, BioExx has a mandate to rapidly grow the company through the construction and operation of extraction facilities around the world - and because of its much lower energy requirements, to do so in a very environmentally responsible manner.

BioExx recently completed an $11 million financing to construct its first commercial processing facility that will process 40,000 metric tonnes annually to produce both Canola Oil and a range of Protein Concentrate products. Production is expected to commence within the next year.

To find out more about Bio-Extraction Inc. (TSX VENTURE:BXI), please visit our website at www.bioexx.com.

The statements made in this press release include forward-looking statements that involve a number of risks and uncertainties. These statements relate to future events or future performance and reflect management's current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements, such as the economy, generally, the demand for BioExx' products, the availability of funding, and the anticipated costs of BioExx' plant construction and operation. These forward-looking statements are made as of the date hereof and BioExx does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from BioExx' expectations and projections.

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