X0202 4 2008-05-31 0 0000875729 BION ENVIRONMENTAL TECHNOLOGIES INC BNET 0001385614 Bloom George 641 LEXINGTON AVENUE 17TH FLOOR NEW YORK NY 10022 0 1 0 0 COO of Bion Technologies Stock Options (Right to Buy) 2 2008-05-31 2008-05-31 4 D 0 5000 D 2005-08-31 2009-03-08 Common Stock 5000 195000 D Stock Options (Right to Buy) 2 2008-05-31 2008-05-31 4 D 0 5000 D 2005-11-30 2009-03-08 Common Stock 5000 190000 D Stock Options (Right to Buy) 2 2008-05-31 2008-05-31 4 D 0 5000 D 2006-02-28 2009-03-08 Common Stock 5000 185000 D Stock Options (Right to Buy) 2 2008-05-31 2008-05-31 4 D 0 5000 D 2006-05-31 2009-03-08 Common Stock 5000 180000 D Stock Options (Right to Buy) 2.5 2008-05-31 2008-05-31 4 D 0 25000 D 2005-05-01 2015-05-01 Common Stock 25000 155000 D Stock Options (Right to Buy) 2.5 2008-05-31 2008-05-31 4 D 0 25000 D 2006-05-01 2015-05-01 Common Stock 25000 130000 D Stock Options (Right to Buy) 2.5 2008-05-31 2008-05-31 4 D 0 25000 D 2007-05-01 2015-05-01 Common Stock 25000 105000 D Stock Options (Right to Buy) 2.5 2008-05-31 2008-05-31 4 D 0 25000 D 2008-05-01 2015-05-01 Common Stock 25000 80000 D Stock Options (Right to Buy) 3 2008-05-31 2008-05-31 4 D 0 40000 D 2003-08-31 2008-07-31 Common Stock 40000 40000 D Stock Options (Right to Buy) 3 2008-05-31 2008-05-31 4 D 0 5000 D 2003-11-30 2008-07-31 Common Stock 5000 35000 D Stock Options (Right to Buy) 3 2008-05-31 2008-05-31 4 D 0 5000 D 2004-02-29 2008-07-31 Common Stock 5000 30000 D Stock Options (Right to Buy) 3 2008-05-31 2008-05-31 4 D 0 5000 D 2004-05-31 2008-07-31 Common Stock 5000 25000 D Stock Options (Right to Buy) 3 2008-05-31 2008-05-31 4 D 0 5000 D 2004-08-31 2008-07-31 Common Stock 5000 20000 D Stock Options (Right to Buy) 3 2008-05-31 2008-05-31 4 D 0 5000 D 2004-11-30 2008-07-31 Common Stock 5000 15000 D Stock Options (Right to Buy) 3 2008-05-31 2008-05-31 4 D 0 5000 D 2004-02-28 2008-07-31 Common Stock 5000 10000 D Stock Options (Right to Buy) 3 2008-05-31 2008-05-31 4 D 0 5000 D 2005-05-31 2008-07-31 Common Stock 5000 5000 D Stock Options (Right to Buy) 3 2008-05-31 2008-05-31 4 D 0 5000 D 2005-08-31 2008-07-31 Common Stock 5000 0 D Stock Options (Right to Buy) 2 2008-05-31 2008-05-31 4 A 0 20000 A 2008-09-30 2015-12-31 Common Stock 5000 20000 D Stock Options (Right to Buy) 3 2008-05-31 2008-05-31 4 A 0 5000 A 2008-09-30 2015-12-31 Common Stock 5000 25000 D Stock Options (Right to Buy) 2.5 2008-05-31 2008-05-31 4 A 0 25000 A 2008-12-31 2015-12-31 Common Stock 25000 50000 D Stock Options (Right to Buy) 2.5 2008-05-31 2008-05-31 4 A 0 25000 A 2009-03-31 2015-12-31 Common Stock 25000 75000 D Stock Options (Right to Buy) 2.5 2008-05-31 2008-05-31 4 A 0 25000 A 2009-06-30 2015-12-31 Common Stock 25000 100000 D Stock Options (Right to Buy) 2.5 2008-05-31 2008-05-31 4 A 0 25000 A 2009-09-30 2015-12-31 Common Stock 25000 125000 D Stock Options (Right to Buy) 3 2008-05-31 2008-05-31 4 A 0 25000 A 2009-12-31 2015-12-31 Common Stock 40000 150000 D Stock Options (Right to Buy) 3 2008-05-31 2008-05-31 4 A 0 15000 A 2010-03-31 2015-12-31 Common Stock 5000 165000 D Stock Options (Right to Buy) 3 2008-05-31 2008-05-31 4 A 0 10000 A 2010-03-31 2015-12-31 Common Stock 5000 175000 D Stock Options (Right to Buy) 3 2008-05-31 2008-05-31 4 A 0 25000 A 2010-06-30 2015-12-31 Common Stock 5000 200000 D Stock Options (Right to Buy) 3 2008-05-31 2008-05-31 4 A 0 12500 0 A 2008-12-31 2012-07-01 Common Stock 12500 212500 D Stock Options (Right to Buy) 3 2008-05-31 2008-05-31 4 A 0 12500 0 A 2009-06-30 2012-07-01 Common Stock 12500 225000 D Stock Options (Right to Buy) 3 2008-05-31 2008-05-31 4 A 0 12500 0 A 2009-12-31 2012-07-01 Common Stock 12500 237500 D These transactions involved amendment of outstanding options to extend the expiration of the options. This is part one of two parts of a filing dated 5/31/08. /s/ George W. Bloom 2008-06-08