"Agri Energy Limited – Update of ActivitiesThe Board of Agri...

"Agri Energy Limited – Update of Activities
The Board of Agri Energy Limited (AAE or the Company) announces the following update to
the Group’s activities following the voluntary request for suspension of trading on 24
December 2007.
Sale of USCB
The Company has entered into a Letter of Intent to sell all of its interests in the United States,
through the sale of 100% of the issued shares of wholly owned United States company, US
Canadian Biofuels Inc. for US$42.5 million.
The assets of USCB include:100% of the issued shares of Beatrice Biodiesel LLC, the limited
liability company which owns the Beatrice Biodiesel Project and 100% of the issued shares
of Beatrice Ethanol LLC, the limited liability company which owns the proposed Beatrice
Ethanol development project; plus land and buildings located at Beatrice, Nebraska. The
sale will be to a special purpose company, Beatrice Biodiesel Acquisition Company LLC
(“BBAC”), established by a consortium of US investors including part of the Group’s United
States management and Pangaea Technology Finance LLC (“Pangaea”)."