Philippines Royal Oil (Symbol: PROL) Explains the 500:1 Reverse Split and 10:1 Dividends Distribution of Bio-Genex

JACKSON, WY, Apr 07 (MARKET WIRE) --
Philippines Royal Oil & Alternative Energy, Inc. (PINKSHEETS: PROL)
(FRANKFURT: 3HD) (XETRA: 3HD) now known as Bio-Genex Laboratories (CUSIP#
09056Q 106 and ISIN # US 09056Q 1067) briefly clarifies the 500:1 Reverse
Split of PROL stocks and the 10:1 Restricted Dividends Distribution of
Bio-Genex stocks.

On February 20 and April 3, 2009 press releases, the company had announced
the corporate re-organization, acquisition and change name of Philippines
Royal Oil & Alternative Energy to Bio-Genex Laboratories Inc. The new BOD
and Management team had also announced the reduction of the number of all
PROL's Issued & Outstanding shares by a 500 to 1 Reverse Split on
company's record date of April 19, 2009, whose effective X-Date will be
set upon by MDI NASDAQ, along with the issuance of the stock symbol for
Bio-Genex Laboratories.

There will be NO fractionated shares meaning that all shareholders holding
500 or less of pre-split common shares of PROL will round up to receive
twenty five (25) post split common shares. Subsequently, the company
offered to distribute Bio-Genex Stocks in the form of Restricted Dividends
to all PROL's Post Split Common Stocks Shareholders. Subsequently, that
within 90 days, the company Bio-Genex Laboratories will issue Restricted
Dividends -- for every ten (10) PROL Post Split Common Shares for one (1)
Bio-Genex Common Share Ratio; so that no shareholder will own less than
250 common shares Post Reverse Split and Restricted Dividends on
Dividends.

The 10 PROL:1 Bio-Genex Dividend Ratio was set further to mean that for
every 10 common shares of PROL Post Split Common Shares held and bought by
shareholders on July 19, 2009 (the 90th Day after the Reverse Split) will
receive A TOTAL of 10 RESTRICTED Bio-Genex Common Stocks.

-- A PROL Common Shareholder holding 500 or less receives 250 Post Split
Common Shares; which will have a factor of 25 (250/10=25) to receive
250 Restricted Dividends (10 X 25 = 250) of the Bio-Genex Common Stocks;

-- Further Example: If a shareholder holds 1,000 Post Split Common shares,
shall have a factor of 100 (1,000/10=100). Thus, if this Shareholder
holds his stock until the record date of July 19, 2009, he will receive
a total of 1,000 (10 X 100) Restricted Bio-Genex Common Shares as
DIVIDENDS;

-- This is in addition to the 1,000 PROL's Post Split Common Shares
already held by this shareholder after the 500:1 Reverse Split.

-- The PROL Post Split Common Shares will automatically be converted
to 1,000 Bio-Genex Common shares on the Effective Date as set by
MDI NASDAQ.

-- This shareholder will end up having a total of 2,000 Bio-Genex
Common Shares of which, one thousand (1,000) are Un-Restricted
or Free Trading and one thousand (1,000) are Restricted
Bio-Genex Common Shares;

-- The shareholder(s) not holding shares in certificate forms in their
names will not have to do anything because their banks and brokerages
as members of the DTC (Depository Trust Company) will distribute those
shares to their corresponding clients' accounts;

-- The Dividend Distributions to commence on July 19, 2009 after the
record date will be sent directly to their corresponding banks &
brokerages;

-- Any Shareholder(s) still holding their PROL Common shares in certificate
form should send to the TA - Transfer Agent of the company in exchange
of their existing old PROL Common shares for the equivalent new
Bio-Genex shares including the Dividends;

-- There is a fee and cost being incurred, that is charged by the TA to
process this distribution. Please contact TA - First Public Securities
Transfer Corp. (310) 770-6689 or email: firstpublicsecurites@hotmail.com
for more details on the expedited exchange and receipt of the equivalent
dividends of Bio-Genex Stocks;

-- This is a mandatory exchange of the record shareholders of PROL
Corporation to become Bio-Genex Common Stockholders;

Visit http://www.BioGenexLab.com

ABOUT THE COMPANY:

Bio-Genex Laboratories, Inc. is a biogenetic engineering corporation;
emphasizing on Stem Cell Research and Development for the cures of stroke,
heart disease, tuberculosis and leprosy. It is also an industry that
focuses on the geophysical and analytical commercial laboratory services
with the main emphasis on research and development, production,
manufacturing and marketing of the "Gift of Health" from the wild tropical
fruits and plants of the Philippine Archipelago. Our overall focus is in
the manufacture of herbal medicine, to enhance the development and
production of the rich herbal resources in the Philippines, exploring new
medicinal resources from fruits of edible plants and herbs that are
naturally growing in the 7,100 islands of the Philippines for further
identification and innovation. Our business concept was originally
envisioned in 2007 and finally formulated into fruition in 2009 comprising
three (3) Laboratory Specialty Divisions. Bio-Genex is a genetic
engineering and an analytical - commercial laboratory company to be
recognized as the leading source of accurate and high-quality laboratory
practices in the field of genetic engineering, biotechnology, geophysical
services, oil and mineral analysis, chemical analysis as well as water
analysis.

FORWARD LOOKING STATEMENTS: Forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause our actual
results, performance or achievements to differ materially from the
anticipated results, performance or achievements expressed or implied by
such forward-looking statements. Forward-looking statements in this
release include statements regarding the Company's projections regarding
research and developments, manufacturing and production in future
periods. Factors that could cause actual results to differ materially
from anticipated results include risks and uncertainties such as: risks
relating to estimates of production costs; research and development
risks; the risk of commodity price fluctuations; political and regulatory
risks; risks of obtaining required operating permits and other risks and
uncertainties. Penny Stocks are very highly speculative and may be
unsuitable for all but very aggressive investors. The Company disclaims
any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise.

CONTACT:
IR - Bernie Almodovar
Phone # 1-888-573-8885
e-mail: Email Contact
URL: www.BioGenexLab.com

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