Generex Announces Extension of Global Medical Direct Acquisition Closing Date

Generex Biotechnology Corporation (www.generex.com) (OTC Bulletin Board: GNBT) today announced an agreement to extend the closing date of its previously announced acquisition of a controlling interest in Global Medical Direct, LLC (www.globalmeddirect.com) to June 1, 2011. The Company also announced its receipt on December 17, 2010 of the decision of the Nasdaq Listing and Hearing Review Council affirming the decision of the Nasdaq Hearings Panel to suspend the listing of the Company's securities on The Nasdaq Capital Market.