PanGenex Focuses on Developing Immune-Boosting Spirulina-Based Products

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Wednesday December 2, 2009

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CLEARWATER, Fla.--(CRWENEWSWIRE)--PanGenex Corporation (Pink Sheets:PGCX - News), a global nutraceutical and dietary supplement manufacturer and marketer, announced today that the Company is actively identifying new product development opportunities that will initially focus on the immune-boosting properties of Spirulina. The Company recently entered into a licensing agreement to begin producing the highest quality, purest form of Spirulina using a state-of-the-art closed loop growing system.

With a 60% protein content, Spirulina is a fresh water algae that contains more protein than red meat and soy. Spirulina also contains high concentrations of the antioxidant beta carotene, iron, vitamin B-12, and the rare gamma-linolenic acid (GLA), an essential fatty acid for cellular health. Over the past 15 years, extensive research on Spirulina supports a growing world acceptance of the algae for use in dietary supplements. Scientists in the U.S., Japan and China have independently discovered that small amounts of Spirulina, when added to animal feed, greatly helped animals resist infections.

“Research on Spirulina continues to support the beneficial properties of this human 'superfood.' With our overuse of antibiotics, prescribed medicines are increasingly becoming ineffective. All-natural remedies and dietary supplements sales are booming despite the national recession. We believe our entry into the Spirulina market coincides with very attractive consumer healthy living trends. We are now working closely with our scientific advisors and product consultants to capitalize on the immune-boosting properties of Spirulina to develop a whole range of commercially viable products for the over-the-counter market,” said John Stanton, Chairman of PanGenex.

About PanGenex Corporation

PanGenex pursues business opportunities in the $70 billion nutraceutical and dietary supplement industry. With a focus on the cardiovascular health segment, PanGenex develops and markets sector-leading, patented or patent pending, condition-specific nutraceuticals and topical over-the-counter (OTC) drugs and personal care products. Many of its products contain the purest grade of nutraceutical components available anywhere without a prescription. Since 2006, PanGenex has voluntarily submitted its product labels for review by the FDA without incidence. PanGenex products are currently sold to healthcare practitioners in 20 U.S. states, Canada, Puerto Rico, Brazil and Australia, in fine retail establishments and on the Internet including: www.PanGenex.com, www.Calgenex.com and www.HeartHealthyWorld.com.

Disclaimer:

CAUTIONARY STATEMENT ABOUT FORWARD-LOOKING STATEMENTS

This press release contains "forward-looking statements," which are statements related to future, not past, events. In this context, the forward-looking statements often include statements regarding our goals, plans, projections and guidance regarding our financial position, results of operations, market position, pending and potential future acquisitions and business strategy, and often contain words such as "expects," "anticipates," "intends," "plans," "believes," "seeks" or "will." Any such forward-looking statements are not assurances of future performance and involve risks and uncertainties that may cause results to differ materially from those set forth in the statements. These risks and uncertainties include, among other things, (a) general economic and business conditions, (b) the level of strategic partner incentives, (c) the future regulatory environment, (d) our cost of financing, (e) our ability to complete acquisitions and dispositions and the risks associated therewith, and (f) our ability to retain key personnel. These factors, as well as additional factors, could affect our forward-looking statements. We urge you to carefully consider this information. We undertake no duty to update our forward-looking statements, including our earnings outlook. The statements in this press release have not been evaluated by the Food and Drug Administration. This product is not intended to diagnose, treat, cure or prevent any disease.

Contact:

PanGenex Corporation

Mindy Rippeto, 813-623-5268

investor@pangenex.com

or

Bulova Technologies Group, Inc.

Beverly Mercer, 727-451-6560

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