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News Admin
 
Date
 23/03/2007
News Provider
 Mahamad Rodzi Abdul Ghani
News Source
 Business Wires
Headline
 Pure Biofuels Announces Plans for Land Lease of 60 Thousand Hectares for Palm Oil Cultivation

21/3/07 LOS ANGELES--(BUSINESS WIRE)--Pure Biofuels (OTCBB:PBOF - News) today announced its plans to lease 60,000 hectares near the city of Pucallpa in central Peru for the cultivation of Palm Oil to provide feedstock for its Callao Port biodiesel production facility on the coast near Lima. The land, currently empty and degraded, is being made available to Pure Biofuels under a sanction agreement with the government of Peru. The company expects to complete its application process and finalize its lease in the coming months.

"The lease of this land provides Pure Biofuels with a unique, vertical self-supply capability that will help sustain our production capacity at levels unattainable by other producers in the region," stated Pure Biofuels' President, Luis Goyzueta. "We're confident that the African Palms we intent to cultivate will find a healthy environment in the central Peruvian forests. It's a hearty plant that thrives in the tropical environment. Our ability to self-supply our feedstock will contribute to our independence and protection from outside market conditions and commodity price fluctuations and will undoubtedly help Pure Biofuels prosper."

About Pure Biofuels

Pure Biofuels is committed to being a leader in Latin America's rapidly emerging biofuels industry. Pure Biofuels' flagship project, the Callao Port biodiesel refinery near Lima, Peru, is scheduled to commence production during the fourth quarter of 2007. The Callao Port refinery will process biodiesel from crude palm oil feedstock. Pure Biofuels has secured memorandums of understanding with local fuel distributors for all of Callao Port's annual biodiesel production. For more information about Pure Biofuels, please visit: http://www.purebiofuels.com/home.html

About Biodiesel

Biodiesel is a clean and renewable energy source derived from vegetable oil that can be used in unmodified diesel engines. Biodiesel improves overall engine performance, is 100% compatible with existing diesel vehicles and infrastructure, and has proven reliable in over 50 million miles of road testing. Biodiesel significantly reduces harmful exhaust emissions, which contribute to global warming, is non-toxic at any level, and is the first and only fuel to have passed the Clean Air Act. The United Nations expects biofuels to account for a full 25% of world energy needs by 2025.

Notice Regarding Forward-Looking Statements

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Since the forward-looking statements relate to future developments, results or events, these statements are highly speculative and involve risks, uncertainties and assumptions that are difficult to assess. You should not construe any of these statements as a definitive or invariable expression of what will actually occur or result. Such forward-looking statements include, among others, the expectation and/or claim, as applicable, that the Callao Port refinery is scheduled to commence production during the fourth quarter of 2007.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, (i) Pure Biofuels' ability to raise the necessary capital to complete construction of the biodiesel refinery; (ii) Pure Biofuels' ability to obtain any necessary government, regulatory or other permits or approvals; (iii) Pure Biofuels' ability to operate effectively in a highly competitive industry with many participants; (iv) Pure Biofuels' ability to keep pace with technological advances and correctly identify and invest in the technologies that become commercially accepted; (v) Pure Biofuels' ability to protect its intellectual property rights and exposure to infringement claims by others; (vi) Pure Biofuels' ability to operate the biodiesel refinery, if and when construction is completed, efficiently, without work stoppages, labor disputes, equipment/mechanical break-downs, political, economic and social unrest and in compliance with new governmental regulations; (vii) Pure Biofuels' ability to comply with environmental, health and safety laws; and (viii) Pure Biofuels' ability to negotiate binding agreements for the sale of biodiesel, if and when production commences. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the Company's periodic reports filed from time to time with the Securities and Exchange Commission and available at www.sec.gov.

ECONOMICS & INDUSTRY DEVELOPMENT DIVISION
Malaysian Palm Oil Board ( MPOB ) Lot 6, SS6, Jalan Perbandaran, 47301 Kelana Jaya, Selangor Darul Ehsan, MALAYSIA.
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