Valcent Products Inc.: Shareholders Approve Corporate Restructuring

VANCOUVER, BRITISH COLUMBIA, Jun 24 (MARKET WIRE) --
Valcent Products Inc. (the "Company", or "Valcent") (OTCBB: VCTPF)
announces that it is in the process of restructuring both its equity and
debt as it continues its aggressive Verticop(TM) worldwide sales and
marketing program.

A reverse share consolidation was approved at a shareholders meeting held
on June 22, 2009 where 18 old shares will be replaced with 1 new share.
The consolidation will take effect subject to regulatory approval whereby
the Company will reduce the number of shares issued and outstanding from
591,094,636 shares to 32,838,591 shares, which includes 29,829,451 post
consolidated shares for settlement of US $11,105,780 of debt. These
shares for debt are subject to an eighteen month Lockup Agreement with
staged releases beginning January 1, 2010.

As previously reported the Company has raised US $2,000,000 for
16,000,000 post consolidation shares which will increase the number of
shares issued to a total of 48,838,591.

The Global economic recession has had an impact on Valcent, as it has on
many companies, including those in the algae biofuel sector. At this time
the Company is evaluating third party involvement from academia as well
as partnership initiatives for Vertical Algae Technology. Valcent remains
committed to its algae biofuel research program.

If you would like further information on the corporate restructuring and
the Company please email info@valcent.net, or call one of representatives
as listed below.

Safe Harbor for Forward Looking Statements: This press release contains
forward-looking information, in that it describes events and conditions,
which Valcent Products, Inc. reasonably expects to occur in the future,
and statements including opinions, assumptions and estimates.
Forward-looking statements include information that does not relate
strictly to historical or current facts. When used in this document, the
words "seeks", "anticipate", "believe", "estimate", "expect", "forecast",
"intent", "may", "project", "plan", "potential", "should" and similar
expressions are intended to be among the statements that identify
forward-looking statements. Forward-looking statements are not guarantees
of future performance and are subject to a wide range of known and
unknown risks and uncertainties, including inability to complete sales in
process or develop positive cash flow from anticipated product sales, and
although the Company believes that the expectations represented by such
forward-looking statements are reasonable, there can be no assurance that
such expectations will be realized. We have attempted to identify
important factors that could cause actual results, performance or
achievements to vary from those current expectations or estimates
expressed or implied by the forward-looking information. The risks and
uncertainties that could affect future events or the Company's future
financial performance are more fully described in the Company's quarterly
reports (on Form 6-K filed in the US and the financial statements and
Form 51-102F1 filed in Canada), the Company's annual reports (on Form
20-F filed in the US and the financial statements and Form 51-102F1 filed
in Canada) and the other recent filings in the US and Canada. These
filings are available at www.sec.gov in the US and www.sedar.com in
Canada. For all such forward-looking statements, we claim the safe
harbour for forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Valcent disclaims any
obligation to update any forward-looking statement made herein.

Contacts:
Valcent Products Inc.
Gerry Jardine
Investor Relations
(800) 877-1626 or (888) 506-7979 or worldwide (604) 630-2941

Valcent Products Inc.
Mike Parker
Investor Relations
(800) 877-1626 or (888) 506-7979 or worldwide (604) 630-2941
info@valcent.net

Vorticom Public Relations
Nancy Tamosaitis
Media Relations
(212) 532-2208
Nancyt@vorticom.com

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