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BIOE – Rights Issue

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					News release 2008-04-11



BIOE – Rights Issue
Biofuel Energy ASA ("Biofuel") Rights Issue to existing shareholders.

The Company shall raise in a combination of Rights Issue and Bridge Loan a minimum of NOK
250,000,000 and a maximum of NOK 357,700,000 of paid-in capital in a combination of new
equity (up to NOK 357,700,000) and a bridge loan (up to NOK 255,500,000).

Both the Rights Issue and the Bridge Loan will be offered to each of the Company's shareholders
registered in the VPS as of 2 April 2008.

The Subscription Period for the Rights Issue and the Bridge Loan will commence on 11 April
2008 at 09:00 hours (CET) and expire at 16:30 hours (CET) on 25 April 2008. The Subscription
Period may not be extended.

The subscription price in the Rights Issue has been set at NOK 20 per share.

In addition, the Board of Directors of Biofuel will in a private placement, after the EGM held on 25
April 2008, offer warrants to be attached to the Bridge Loan to the subscribers in the Bridge Loan.

Financial advisors are First Securities ASA and Pareto Securities AS.

The Information Memorandum prepared for the Offering will be distributed to all shareholders in
the Company by post. In addition the Information Memorandum will be available at the Company,
the financial advisors and Wikborg, Rein & Co's offices:

–   Biofuel Energy ASA,Bolette Brygge 1, Tjuvholmen Postal adresse: BOX 1795 Vika, 0122
    Oslo, Tel: +47 23 30 83 00.
–   First Securities ASA, Fjordalléen 16, Aker Brygge, PO Box 1441 Vika, N- 0115 Oslo, Tel: +47
    23 23 80 00, Fax: +47 23 23 80 01.
–   Pareto Securities AS, Dronning Mauds gate 3, PO Box 1411 Vika, N-0115 Oslo, Tel: +47 22
    87 87 00, Fax: +47 22 83 43 09.
–   Wigborg & Rein Advokatfirma DA, Kronprinsesse Märthas pl. 1, , PO Box 1513 Vika, N-0160
    Oslo, Tel: +47 22 82 75 00, Fax.: +47 22 82 75 01

For further information please contact:

George Windecker
Wikborg, Rein & Co
tel: +47 930 26 202
email: gwi@wr.no

				
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