SOURCE: HydroGenetics, Inc.

September 17, 2008 08:30 ET

HydroGenetics, Inc. Announces Co-Development Agreement With Xynergy Holdings, Inc. on New Hydrogen Reactor

Prototyped Hydrogen Reactor to Be Demonstrated on Both Companies' Websites This Month

BEVERLY HILLS, CA--(Marketwire - September 17, 2008) - HydroGenetics, Inc., currently trading under the symbol (PINKSHEETS: GEAC) announced today it has finalized a co-development agreement with Xynergy Holdings, Inc. (PINKSHEETS: XYNH) to further develop a working prototype of a hydrogen reactor originally developed by Xynergy in order to bring it to market and get the reactor into production. The prototype, now installed in a 2003 Chevy Silverado truck and producing its own hydrogen through electrolysis, currently produces over 2 litres of hydrogen per minute. It has assisted the gas-powered truck through the infusion of hydrogen, enabling the test vehicle to double its mileage from 14 MPG to 30 MPG. Both companies are hopeful that they will be able to expand its current generator's output to 4 litres per minute, producing an even greater reduction on gasoline consumption, perhaps, but not guaranteeing, enabling a vehicle to get over 100 miles to the gallon.

In further developments, the companies both announced that they will demonstrate the technology in the working prototype installed in the Silverado sometime this month on their respective websites. HydroGenetics is also expected to announce its new CEO in the coming days, as well as more particulars relating to the Xynergy/Hydrogenetics, Inc. relationship.

About HydroGenetics

HydroGenetics, Inc. is in the business of acquiring and operating emerging businesses and currently owns Hilarity Films, Global Entertainment and its subsidiary HydroAxis Technologies. It is the company's mission to incubate these emerging companies into revenue producing, profitable businesses through both the investment of capital and resources as well as providing consulting services for the benefit of management of its business units.

Safe Harbor Disclosure:

This press release includes "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.

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