SOURCE: HydroGenetics, Inc.

April 16, 2009 09:21 ET

HydroGenetics, Inc. Signs Binding Letter of Intent With Developer of Super Efficient Magnetic Drive System

Management's Due Diligence on Machine Sufficient to Warrant Serious Testing, as Initial Results Potentially "Astounding"

MIAMI, FL--(Marketwire - April 16, 2009) - HydroGenetics, Inc. (PINKSHEETS: HYGN) announced today it signed a binding letter of intent to purchase the rights to further develop a magnetic device that has the potential to shatter conventional physics law as we know it. The device has multiple industrial applications for loosely coupled right angled drives. The inventor has extensive experience in engineering, and has developed two prototypes inspected by management. The intellectual property rights to the technology will be owned by the company. Testing by international experts is underway to establish efficiency results and assess applications.

"This is a very significant relationship and acquisition right for the company to solidify," says CEO Charles Hansen III. "We are confident, though cautiously optimistic, that the experts assembled to assess this machine will discover something quite unique about our machine. As has been the case from day 1 with HydroGenetics, we are committed to discovering and developing new and emerging green solutions."

About HydroGenetics, Inc.

HydroGenetics, Inc. is an alternative energy company. The company's mission is to acquire and develop alternative and "green" technology companies into revenue producing, profitable businesses, utilizing investment capital and other resources including management and strategic planning to increase shareholder value. HydroGenetics, Inc.'s wholly owned subsidiary, HydroAxis Technologies, Inc., is currently developing "green hydrogen generating technology systems for any internal combustion engine," which will significantly reduce gasoline consumption in existing and new vehicles.

Forward-Looking Statements

Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include but are not limited to, risk factors inherent in doing

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