SOURCE: GeneThera

February 21, 2007 07:00 ET

GeneThera Addresses SEC Filing by M.A.G. Capital, LLC

WHEAT RIDGE, CO -- (MARKET WIRE) -- February 21, 2007 -- On advice from counsel and also in the best interest of its shareholders, GeneThera (OTCBB: GTHA) addresses information in a Form SC 13G/A filing of February 14, 2007.

An SC Form 13G/A filing done with the SEC by M.A.G. Capital, LLC on February 14, 2007 states that three funds within M.A.G. Capital, LLC have shared voting power over 8,766,000 Common Shares of the Company as of December 31, 2006, which is untrue. These shares are in addition to Warrants pursuant to a Warrant Agreement signed in January 2005.

Commenting on the filing, Dr. Tony Milici, CEO of GeneThera, said, "This filing could be misleading to the public as M.A.G. Capital appears to 'own' an additional 8,766,000 shares of Common Stock in GeneThera from a conversion of Preferred Shares they hold under a January 2005 Stock Purchase Agreement. This is not the case. M.A.G. Capital, through three of its funds, Mercator Momentum Fund, LP; Mercator Momentum Fund III, LP; and Monarch Pointe Fund, Ltd., continues to only own 4,600 Preferred Shares of GeneThera. These Preferred Shares are not convertible at this time and are the subject of pending litigation."

ABOUT GENETHERA, INC.:

GeneThera, Inc. is a molecular biotechnology company located in Wheat Ridge, CO. The Company provides genetic diagnostic solutions for the veterinary and agricultural industries with future plans to include the health-care industry. The Company's proprietary diagnostic solution is based on a genetic expression assay, GEA, a protocol designed to function on a highly automated Fluorogenic PCR platform. This platform enables GeneThera to offer tests that are presently not available from other technologies. The GEA is designed for a host of individual diseases, the current priority being Mad Cow Disease, Chronic Wasting Disease, a disease affecting elk and deer in North America, E.Coli 0157:H7 and Johne's Disease, diseases affecting cattle worldwide.

"Safe Harbor" Statement: Certain statements in this release are "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. Such statements are subject to numerous risks and uncertainties. Actual results may vary significantly from the results expressed or implied in such statements. Factors that could cause actual results to materially differ from forward-looking statements include, but are not limited to, the Company's ability to meet the terms and conditions required to obtain its project financing, risks and delays associated with product development, risk of market acceptance of new products, risk of technology or product obsolescence, competitive risks, reliance on development partners and the need for additional capital.

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