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Gulf Ethanol Corporation Expands South American Business Markets

Posted on: Tuesday, 29 August 2006, 15:00 CDT

Gulf Ethanol Corporation (Pink Sheets:GFET) expands South American business markets for raw ethanol and blended fuels required for E85 and flex fuel vehicles. Flourishing business developments have allowed the expansion of Gulf Ethanol's supplier network into Brazil and surrounding countries, where total producing and potential deliverables reach over 1.65 billion gallons per year of blended fuel and raw ethanol for distribution.

"Recent acceleration through the energy retail sales sector and transportation manufacturing industry is blowing the doors off the ethanol markets," stated David Mordekhay, President of Gulf Ethanol.

As recently as August, General Motors, Ford, and DaimlerChrysler have all said that they are committed to doubling their production of Flex Fuel vehicles by 2010. More than 5 million vehicles on the road can run on the blend and car manufacturers say they are making more models that can use it. Yet the fuel is sold by just over 600 retailers across the nation, mainly independents rather than chains. The National Ethanol Vehicle Coalition keeps a list of E85 stations (www.e85refueling.com) online. Philip J. Lampert, the executive director, says the number of stations has doubled in the past two years.

"We expect to see the ethanol market grow faster than we can deliver. With oil prices steadily increasing as well as Flex Fuel Vehicle production, the ethanol marketplace is making history," said Mr. Mordekhay. "Gulf Ethanol will deliver on those demands. We are committed to the renewable energy resources that keep our country strong and secure," he continued.

Gulf Ethanol Corporation's business objective is to supply cost-effective and environmentally sustainable bio-fuels for America's energy needs. Operations primarily involve the purchase, marketing, sale, and distribution of ethanol on an international level. The Company's home office is in Houston, Texas where it maintains a state-of-the-art facility in support of its sales, marketing, and logistics activities. GFET intends to provide ethanol blenders a reliable supply of imported ethanol at the greatest economic advantage, while responding attentively to its customers' demand schedules and logistics requirements. For more information please visit our homepage at: www.GulfEthanolCorp.com.

Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward-looking statements are further qualified by other factors. The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise.

Source: Business Wire

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