Generex Retires 8% Senior Secured Convertible Notes

WORCESTER, Mass., June 10, 2009 (GLOBE NEWSWIRE) -- Generex Biotechnology
Corporation (Nasdaq:GNBT) (www.generex.com) today announced that all of the 8%
Senior Secured Convertible Notes issued by the Company on March 31, 2008 have
been satisfied in full and no longer are outstanding.

As a result of the satisfaction of the notes, $3,000,000 in cash collateral
provided as security for the Notes will be returned to the Company.

About Generex Biotechnology Corporation

Generex is engaged in the research, development and commercialization of drug
delivery systems and technologies. Generex has developed a proprietary platform
technology for the delivery of drugs into the human body through the oral cavity
(with no deposit in the lungs). The Company's proprietary liquid formulations
allow drugs typically administered by injection to be absorbed into the body by
the lining of the inner mouth using the Company's proprietary RapidMist(tm)
device. The Company's flagship product, oral insulin (Generex Oral-lyn(tm)),
which is available for sale in India and Ecuador for the treatment of subjects
with Type-1 and Type-2 diabetes, is in Phase III clinical trials at several
sites around the world. For more information, visit the Generex website at
http://www.generex.com.

The Generex Biotechnology Corp. logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=3831

Safe Harbor Statement

This release and oral statements made from time to time by Generex
representatives in respect of the same subject matter may contain
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements can be identified by
introductory words such as "expects," "plans," "intends," "believes," "will,"
"estimates," "forecasts," "projects," or words of similar meaning, and by the
fact that they do not relate strictly to historical or current facts.
Forward-looking statements frequently are used in discussing potential product
applications, potential collaborations, product development activities, clinical
studies, regulatory submissions and approvals, and similar operating matters.
Many factors may cause actual results to differ from forward-looking statements,
including inaccurate assumptions and a broad variety of risks and uncertainties,
some of which are known and others of which are not. Known risks and
uncertainties include those identified from time to time in the reports filed by
Generex with the Securities and Exchange Commission, which should be considered
together with any forward-looking statement. No forward-looking statement is a
guarantee of future results or events, and one should avoid placing undue
reliance on such statements. Generex undertakes no obligation to update publicly
any forward-looking statements, whether as a result of new information, future
events or otherwise. Generex cannot be sure when or if it will be permitted by
regulatory agencies to undertake additional clinical trials or to commence any
particular phase of clinical trials. Because of this, statements regarding the
expected timing of clinical trials cannot be regarded as actual predictions of
when Generex will obtain regulatory approval for any "phase" of clinical trials.
Generex claims the protection of the safe harbor for forward-looking statements
that is contained in the Private Securities Litigation Reform Act.

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