Philippines Royal Oil & Alternative Energy, Inc. Becomes BIO-Genex Laboratories, Inc. Under Symbol BGNX

Philippines Royal Oil & Alternative Energy, Inc. (PINKSHEETS: PROL) (FRANKFURT: 3HD) (XETRA: 3HD) (PINKSHEETS: BGNX) announces the completion of its corporate reorganization. This corporate action will take effect at the open of business Tuesday 5/19/2009. The new symbol on this date will be BGNX.

BIO-Genex Laboratories, Inc. reduced the number of all its Issued & Outstanding shares of the Common Shares of Philippines Royal Oil & Alternative Energy, Inc. (Symbol: PROL) by a 500 to 1 Reverse Split on the effective date, May 19th, as set by FINRA MDI NASDAQ. There will be no fractionated shares meaning that all shareholders holding 500 or less of pre-split common shares of PROL will round up to receive twenty five (25) post split common shares, of the new name BIO-Genex Laboratories, Inc. (Symbol: BGNX). Subsequently, BIO-Genex is paying a Restricted Dividend of 10 for 1 ratio to shareholders of record date of July 19, 2009, so that no shareholder will own less than 250 common shares post reverse split and restricted dividend. The company will commence issuing the restricted dividends on August 19, 2009.

BIO-Genex is very optimistic of the future of the company, especially with the development and implementation of the special stem cell research for heart disease, stroke, hypertension, tuberculosis, leprosy and diabetes, among others. BGNX is a cutting edge bio-engineering company with the application of unique alternative healing medicines.

http://www.BioGenexLab.com

ABOUT THE COMPANY:

BIO-Genex Laboratories, Inc. (BGNX) is a diverse alternative healing industry that focuses in the bio-genetic engineering, as well as in the geo-physical analytical services. BGNX emphasis are on the stem cell R & D, a research and development firm for the cures of stroke, heart disease, hypertension, tuberculosis and leprosy and is considered to be in the cutting edge of this preventative medicine revolution.

BGNX is an industry that had focused on the geophysical, analytical and commercial laboratory services with more emphasis on research and development, production, manufacturing and marketing of the "Gift of Health" from the wild tropical fruits and plants of the Philippine Archipelago. Our overall focus is in the manufacture of herbal medicine, to enhance the development and production of the rich herbal resources in the Philippines. BGNX is exploring new medicinal resources from fruits of edible plants and herbs that are naturally growing in the 7,100 islands of the Philippines for further identification and innovation. Our business concept was originally envisioned in 2007 and finally formulated into fruition in 2009 comprising three (3) Laboratory Specialty Divisions. BIO-Genex is a genetic engineering and an analytical commercial laboratory company to be recognized as the leading source of accurate and high-quality laboratory practices in the field of genetic engineering, biotechnology, geophysical services, oil and mineral analysis, chemical and water analysis.

FORWARD-LOOKING STATEMENTS:

Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding the Company's projections regarding research and developments, manufacturing and production in future periods. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to estimates of production costs; research and development risks; the risk of commodity price fluctuations; political and regulatory risks; risks of obtaining required operating permits and other risks and uncertainties. Penny Stocks are very highly speculative and may be unsuitable for all but very aggressive investors. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: IR Bernie Almodovar Phone # 1-888-573-8885 e-mail: Email Contact URL: www.BIOGenexLab.com