Genetic Technologies Provides Update Regarding Trading Suspension

Genetic Technologies Limited GENE provides the following update to the market regarding its present suspension from trading and proposed capital raising. Before the formal request for a trading halt in the Company's shares (12 July 2011 AEST), Genetic Technologies had been in the process of reviewing its capital management program and planned to conduct an equity capital raising. Prior to proceeding with that capital raising, the Company experienced a significant rise in its share price. In response to a query from both the NASDAQ and ASX on 12 July 2011 regarding the price rise, the Company requested a trading halt in its shares in order to allow sufficient time to conduct the capital raising process and ensure an orderly market. At the expiration of the trading halt period, the Company was still in the process of formalising the capital raising structure and, accordingly, a voluntary suspension of trading in its shares was sought on 14 July 2011 to enable the Company to conclude its discussions concerning the proposed capital raising. Genetic Technologies now expects that the capital raising will be finalised on 22 July 2011, when a further announcement is expected to be made by the Company in compliance with the ASX listing rules, and at which time the Company expects to recommence trading on both the ASX and NASDAQ.