Pacific Ethanol, Inc. Completes Resale Registration for May 2006 Private Offering

July 11, 2006

FRESNO, Calif., July 11 /PRNewswire-FirstCall/ — Pacific Ethanol, Inc. (Nasdaq: PEIX), today announced that it has completed the registration of the resale of an aggregate of 8,244,880 shares of common stock, including 5,496,583 outstanding shares of common stock, and 2,748,297 shares of common stock underlying warrants, that were issued in the Company’s May 2006 private offering.

The Company had agreed with its investors to file a registration statement on Form S-3 within 30 days after the closing of the May 2006 private offering to register the resale of the shares of common stock issued at the closing and the shares of common stock underlying the warrants.The May 2006 private offering, which resulted in net proceeds of $138 million (not including any proceeds that may be received from the exercise of the warrants), involved the sale of 5,496,583 shares of common stock at a price of $26.38 per share. Investors in the offering also acquired warrants under which they have the right to purchase an additional 2,748,297 shares of common stock at $31.55 per share during the period commencing six months after the closing and ending nine months after the closing.

About Pacific Ethanol, Inc.

The primary goal of Pacific Ethanol, Inc. is to become a leader in the production, marketing and sale of ethanol and other renewable fuels in the Western United States. Established in 2003, Pacific Ethanol is constructing its first large-scale ethanol production facility in Madera County, California, and is developing four additional ethanol production facilities on the West Coast. Kinergy Marketing, LLC, a wholly-owned subsidiary of Pacific Ethanol, is the largest West Coast-based marketer of ethanol. In addition, Pacific Ethanol is working to identify and develop other renewable fuel technologies, such as cellulose-based ethanol production and bio-diesel.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995

With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. The actual future results of Pacific Ethanol could differ from those statements. Factors that could cause or contribute to such differences include, but are not limited to, the ability of Pacific Ethanol to obtain all necessary financing to complete construction of its planned ethanol production facilities and, assuming all such funding is obtained, the ability of Pacific Ethanol to successfully complete construction of those facilities; the ability of Pacific Ethanol to successfully capitalize on its internal growth initiatives; the price of ethanol relative to the price of gasoline; and those factors contained in the “Risk Factors” section of Pacific Ethanol’s Registration Statement on Form S-3 filed with the Securities and Exchange Commission on June 23, 2006.


Source: Pacific Ethanol, Inc.

Source: Yahoo

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