Genoil Announces Director Resignation

CALGARY, ALBERTA -- (MARKET WIRE) -- 05/27/08 -- Genoil Inc. (TSX VENTURE: GNO) (OTCBB: GNOLF) has announced that Harry Bloomfield has tendered his resignation as director, member of the Audit Committee, and member of the Compensation Committee of the Corporation, such resignation to be effective as of May 27, 2008.

The Corporation's directors are currently reviewing candidates to assume Mr. Bloomfield's roles and responsibilities within the Corporation. Information respecting any such candidates identified prior to the date of the Corporation's upcoming Annual and Special Meeting of Shareholders (the "Meeting") is expected to be circulated by future press release with such candidates expected to be proposed for nomination by way of amendment from the floor at the Meeting. The Corporation's directors wish to express their gratitude to Mr. Bloomfield for his contributions to the Corporation during the period of his service with the Corporation.

About Us

Genoil Inc. is an international engineering technology development company based in Alberta, Canada, that develops innovative hydrocarbon, oil and water separation, and marine technologies.

The TSX Venture Exchange has neither approved nor disapproved of the information contained herein.

Contacts: Genoil Inc. David Lifschultz Chairman and CEO (212) 688-8868 Website: www.genoil.net

2008-05-27 20:02:04 0371148 MARKETWIRE