An air permit application for a further 50 million gallon plant at the existing
Rochelle site is expected to receive draft approval in early December 2006 with
full approval expected to follow in January 2007. Preliminary negotiations have
commenced with Fagen Inc. regarding the potential expansion of our Rochelle
capacity. Subject to the raising of finance, the expansion would be intended to
commence construction in the second quarter of 2007.
In addition the Company is currently progressing engineering work to investigate the feasibility of building ethanol plants at two other US sites. Whilst this work is promising, any decision to proceed with it will depend upon full economic assessments and the availability of financing. It may be some time before the Board decides whether to proceed with either or both of these projects, in the best interests of our shareholders
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