Hydrogenetics Shareholders Appoint Charles Hansen III as CEO

  Hydrogenetics, Inc. (PINKSHEETS: HYGN) announced
today it has appointed Charles Hansen III to its CEO position, which had
been held on an interim basis by Ronny Halperin. The company recently
removed its former CEO Marc Walther and shareholders appointed Halperin to
lead the company throughout the search process.

As President and CEO, Hansen is responsible for day-to-day operations and leading the strategic direction of HydroGenetics, Inc.

Prior to joining HydroGenetics, Mr. Hansen was President and Director of Medirect Latino, the first national provider of diabetic testing supplies to the Medicare eligible Hispanic. Hansen was the driving force behind the marketing and brand development of this durable medical equipment provider having positive impact in the health and well being of this underserved Community on a National level. Over the past 25 years Hansen honed the skills needed for high level revenue building strategies and tactics by rising through the ranks of leading broadcast media companies representing ABC, NBC and CBS affiliates throughout the US. In 1998 Hansen was hired as a part of the management team that launched the PAX TV Network and was promoted to VP General Manager of WPXP-TV, the PAX flagship station. Hansen has demonstrated an ability to overcome complex business challenges and make high-stake decisions using experienced-backed judgment. While in the United States Marine Corps Mr. Hansen attended the United States Armed Forces Institute.

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 business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.

Contact: Hydrogenetics, Inc. Nicky O'Robinson 305-572-9850