Dr. Eric von Hofe appointed Generex VP for Product Development & Scientific Affairs

TORONTO, October 7, 2004 -- Generex Biotechnology Corporation (NASDAQ:
GNBT) announced today that Dr. Eric von Hofe, Ph.D., an executive with the Company’s Antigen Express subsidiary, has been appointed as the Company’s Vice-President in charge of Product Development and Scientific Affairs.

“We are pleased that Dr. von Hofe has agreed to assume this important role on our team,” said Anna Gluskin, the Company’s President and Chief Executive Officer. “In conjunction with our on-going implementation of the global clinical and regulatory program for Oralin™, Dr. von Hofe will spearhead the development of other applications of our proprietary oral spray formulation drug delivery technology such as heparin, fentanyl and morphine, which should offer patent extensions for many current drug products.”

Dr. von Hofe will continue to act as Vice-President of Technology Development at the Company’s Antigen Express subsidiary, focusing on the development of therapeutic vaccines for cancer, AIDS and other autoimmune diseases.

Prior to joining Antigen Express in November, 2003, Dr. von Hofe was Director of Programs & Operations, Discovery Research at Millennium Pharmaceuticals. There he presided over technology development projects which contributed to bringing in approximately $75 million per year in technology transfer projects with Monsanto and Aventis.

Previously, Dr. von Hofe was Director, New Targets at Hybridon, Inc.
(AMEX: HBY) where he coordinated in-house and collaborative research that critically validated gene targets for novel antisense medicines.

Dr. von Hofe received his Ph.D. from the University of Southern California in Experimental Pathology and was a postdoctoral fellow at both the University of Zurich and Harvard School of Public Health. His work has been published in twenty-eight articles in peer-reviewed journals and he has been an inventor on four patents.

Dr. von Hofe was also Assistant Professor of Pharmacology at the University of Massachusetts Medical School where he received a National Cancer Institute Career Development Award for defining mechanisms by which alkylating carcinogens create cancers.

Dr. von Hofe will be making a presentation today on behalf of Generex at BioContact Québec 2004, a biopharmaceutical partnership symposium gathering more than 1200 participants in Québec City.


About Generex

Generex is engaged in the research and development of drug delivery systems and technology. To date, it has focused on developing a platform technology for the buccal delivery -- delivery to the oral cavity for absorption through the inner mouth mucosa -- of drugs that historically have been administered only by injection. Generex's buccal delivery technology has application to a large number of drugs. This release and oral statements made from time to time by Generex representatives concerning 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. Known risks and uncertainties 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 claims the protection of the safe harbor for forward-looking statements that is contained in the Private Securities Litigation Reform Act.

Shayne Gilliatt of Generex Biotechnology Corporation, 1-800-391-6755, or
+1-416-364-2551; or Ken Sgro of CEOcast, Inc.,
+1-212-732-4300, or kensgro@ceocast.com , for Generex Biotechnology
Corporation