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   that will enhance our shareholders' position is a top priority.
   For good measure, management must revise its previous timeline
   forecast."

-- The progress of Gold Horse International and Lotus Pharmaceuticals,
   Genesis' equity partners, is excellent.  In less than 90 days, both
   companies could be trading, thus dramatically increasing the net
   asset value of Genesis.  Genesis provides a full circle, turn-key
   service for partner companies.  Genesis could have an admirable
   equity position in five to 10 new public companies within the next
   nine months in addition to its six current investments.   When
   partner companies begin to increase in market cap, as anticipated,
   the net asset value of Genesis will increase as well.  Prospective
   investors can invest in Genesis, thus investing in as many as 10
   different companies.  If investors determine to invest only in
   Lotus Pharmaceuticals, for example, Genesis would still receive
   direct benefit.

-- From February 1st to the third week of May, the Company increased
   in value about 500%.  Seldom do public -- especially NASDAQ Bulletin
   Board -- companies show straight line growth, as GTEC rose as much
   as 1000% during the interim period. Management is unconcerned
   about the vagaries of the day-trading market, as it is only
   increasingly confident about the Company's successful business
   model and future achievements. Management adheres to "let the
   market be your guide" and that the long view is the only
   significant perspective.



Chairman Gary Wolfson summarized the two hour, bilingual summit: "In our first four years as a listed company, 2006 is, by far, our best year to date. We are confident that our model will only improve, providing an excellent return to shareholders. We could not be more encouraged. We discussed the three major interest points: the Company's performance since February 1st, the status of the avidly discussed merger opportunity, and -- perhaps most important -- what we believe the future holds."
Kenneth Clinton, Genesis President, said: "Our New York auditor completed a 3-week visit to China, and our CFO joined us here now. These companies should be listed companies in the U.S. -- to the benefit of Genesis, Gold Horse and Lotus shareholders -- in 2006. Of course, we expect to announce several new Chinese clients promptly that could, in turn, be trading by year end."
A full power point of the proceedings is available on the company's website at www.genesis-technology.net

aus www.marketwatch.com/tools/quotes/...ec&siteid=mktw&dist=mktwqn

BOCA RATON, Fla., Jul 3, 2006 (PRIMEZONE via COMTEX) -- Genesis Technology Group, Inc. (GTEC : genesis technology group inc com
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Get up to 50 free trades at TD AMERITRADE.GTEC0.19, +0.01, +2.7%) announced that it has terminated negotiations with the western Chinese conglomerate to complete a merger with one of its subsidiaries. Genesis management stated that it has upgraded the required qualifications for merger candidates, as the Company finds itself in a significantly improved position from last December, when such negotiations commenced.
Gary L. Wolfson, Genesis Chief Executive Officer, commented: "Frankly, we did not anticipate our Company's improvement to occur so rapidly in 2006. The merger proposal formulated in mid-December was not nearly as attractive this spring. Genesis terminated negotiations only after performing arduous due diligence to reach this conclusion.
"Management is dedicated to increasing shareholder value, and we remain convinced that a merger with a qualified Chinese company should accelerate that goal. With our well-defined Chinese partners program, we can now consider new Genesis merger candidates on a regular basis. Additionally, with three quarters of solid performance, significant cash reserves, and appreciating equity holdings, Genesis will be in an enviable position to complete such a merger in the future."
Dr. Shaohua Tan, Director of China Operations, added: "Our revitalized business model is moving forward at full throttle. Of our contract partner companies, Lotus Pharmaceuticals, will be the first to be publicly traded. The audit is in its final stages. Gold Horse International will follow soon thereafter. New partner companies will be announced shortly, and we remain confident that each completed contract could result in about $2 million to the Genesis bottom line."
CHANGE OF ADDRESS NOTICE: Effective July 1, 2006, the main office for all China operations shall be Oriental Plaza, Level 6, Tower W2, One East Chang An Avenue, Dong Cheng District, Beijing 100738, People's Republic of China.