Generex Provides Clarification for Special Meeting Voting

Oct 14, 2010, 12:17 ET from Generex Biotechnology Corporation

WORCESTER, Mass., Oct. 14 /PRNewswire/ -- Generex Biotechnology Corporation (Nasdaq: GNBT) (www.generex.com) advises its stockholders that votes cast in respect of the reverse stock split proposal put forward at the Annual Meeting of the Company's stockholders held on July 28, 2010 DO NOT COUNT as votes cast in respect of the reverse stock split proposal being put forward at the Special Meeting of stockholders scheduled for 10 a.m. EDT on Friday, October 15, 2010.  In order to vote in respect of the current reverse stock split proposal, stockholders must cast their votes using the proxy form issued for the Special Meeting.

Stockholders whose stock is held on their behalf by brokerage houses may not have received the proxy solicitation materials, including proxy forms, in respect of the Special Meeting.  Those stockholders are urged to contact their brokers or the brokerage proxy department in order to vote their stock at the Special Meeting.

Stockholders may also fax completed proxy forms for the Special Meeting (with the control number(s) and both sides of the proxy form) to Generex at 1-416-364-9363 up until 10 a.m. EDT tomorrow.

Questions

Should stockholders have any questions regarding the proxy voting procedures (including changing previously cast votes), please contact Legend Securities, Inc. by telephone at 877-317-7526 or via email at gnbtproxy@legendsecurities.com for US residents. Non-US residents should contact Generex directly at 800-391-6755 or contact their broker/dealer.

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). Generex's proprietary liquid formulations allow drugs typically administered by injection to be absorbed into the body by the lining of the inner mouth using Generex's proprietary RapidMist™ device. Generex's buccal insulin spray product (Generex Oral-lyn™), which has been approved in India, Lebanon, Algeria, 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. Antigen Express, Inc. is a wholly owned subsidiary of Generex. The core platform technologies of Antigen Express comprise immunotherapeutic vaccines for the treatment of malignant, infectious, allergic, and autoimmune diseases. For more information, visit the Generex website at www.generex.com or the Antigen Express website at www.antigenexpress.com. Information contained in, or accessible through, the websites of Generex or Antigen Express is not incorporated herein and is not a part of the proxy soliciting material.

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. Such risks and uncertainties include the risks that: Generex will not obtain the stockholder approval of the reverse stock split; and the reverse stock split, if implemented, will fail to have the desired effect of sufficiently raising the common stock price to meet The NASDAQ Capital Market's $1.00 minimum bid price requirement for continued listing of Generex's stock. Known risks and uncertainties also 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 or ultimate regulatory approval cannot be regarded as actual predictions of when Generex will obtain regulatory approval for any "phase" of clinical trials or when it will obtain ultimate regulatory approval by a particular regulatory agency. Generex claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act.

SOURCE Generex Biotechnology Corporation



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