BIZ.P Berkeley Capital Corp

Berkeley Capital Corp. II ("Berkeley") (TSX VENTURE:BIZ.P), a capital pool
company, is pleased to announce the completion today of its previously announced
Qualifying Transaction with Med BioGene Inc. ("Med BioGene"), subject to receipt
of final approval from the TSX Venture Exchange. Pursuant to the Qualifying
Transaction, Berkeley completed a private placement investment into Med BioGene
of all of its available cash reserves after payment of expenses related to the
Qualifying Transaction, consisting of $620,600. The Company waived the condition
to closing requiring that there be an aggregate of $650,000 in Med BioGene units
included in the private placement, other than those being purchased by the
Company. As of today, Med BioGene has closed on an aggregate of $1,233,879 of
units in the private placement and has firm indications for additional
investments, which together with the investments closed today, is expected to
exceed the minimum $1,300,000. Med BioGene intends to complete the sale and
issuance of such additional units of Med BioGene as promptly as possible.


The Qualifying Transaction remains subject to Berkeley filing final
documentation with the TSX Venture Exchange.


The approval of a majority of the minority of the Berkeley shareholders for the
Qualifying Transaction was obtained at the annual and special meeting of
shareholders of Berkeley held today. In connection with the approval of the
Qualifying Transaction, the shareholders of Berkeley also approved the reduction
of stated capital and return of capital by Berkeley ratably among the
shareholders according to their rights and interest in Berkeley and the
voluntary dissolution of Berkeley.


Concurrently with the completion of the private placement investment into Med
BioGene, Berkeley has distributed all of the securities underlying the units of
Med BioGene purchased in the private placement to the shareholders of Berkeley
of record as of May 11, 2009. As a result, each shareholder of record will
receive from Med BioGene's transfer agent approximately 0.7052 of a common share
of Med BioGene and approximately 0.3526 of a warrant for each common share of
Berkeley held by them. Each whole warrant entitles the holder thereof to
purchase one additional Med BioGene common share at a price of $0.10 for a
period of 24 months from today. All such securities of Med BioGene are subject
to a four-month hold period.


The common shares of Berkeley will remain halted pending final TSX Venture
Exchange approval of the Qualifying Transaction and the issuance by the TSX
Venture Exchange of a Final Exchange Bulletin. Upon final approval, Berkeley
will be de-listed and dissolved and all outstanding equity rights in Berkeley
will be cancelled. Any securities of Med BioGene distributed to shareholders of
Berkeley whose Berkeley securities have been held in escrow will also be held in
escrow under the same terms and conditions as such Berkeley securities.


Additional details regarding the Qualifying Transaction, return of capital to
the shareholders and the dissolution are available in the management information
circular of Berkeley dated May 11, 2009, which has been filed with the TSX
Venture Exchange and is available on SEDAR at www.sedar.com.


Cautionary Note Regarding Forward-looking Statements

This news release contains forward-looking statements that involve risks and
uncertainties that could cause the results of Berkeley to differ materially from
management's current expectations. Actual results may differ materially due to a
number of factors including, among others: the sale and issuance of additional
Med BioGene units in the private placement, the timing of the return of capital
to the shareholders and the dissolution of Berkeley. The matters discussed in
this news release also involve risks and uncertainties described in Berkeley's
documents filed from time to time with the Canadian securities regulatory
authorities. Berkeley assumes no obligation to update the forward-looking
information contained in this new release.

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