VANCOUVER, BRITISH COLUMBIA , a biofuel technology company converting biomass into ethanol and other alcohols, reported today that inquiries relating to its catalyst technologies have risen sharply.

Michael Jackson, President/Chairman of Syntec Biofuel Inc., "We are experiencing an unusual level of inquiries concerning our proprietary catalyst technology. We are attributing it to increasing interest in thermo-chemical Fischer-Tropsch based biomass to biofuel technologies over corn ethanol processes due to the rapidly changing economics of corn as a feedstock."

"Record corn prices are creating worldwide debate over the use of food stock as feedstock for fuel. From cost comparison models based on USDA data with the price at $4.98 a bushel - well below current prices - Syntec's process has edged firmly ahead in competitiveness over corn fermentation methods."

"The cost of corn today at $5.20 a bushel is making corn ethanol production only marginally profitable at their estimated production levels of 92 gpt. That is a conservative figure for us as we have already achieved 105 gallons with the potential for us to further increase yields up to 150 gpt. The equivalent cost of biomass feedstock based on a bushel of wood waste is approx. $1.00. We have therefore concluded that the cost of corn feedstock per gallon of alcohol is $1.89 whereas cost of biomass feedstock per gallon of alcohol is $0.33."

"Using food stock such as corn, sugar and/or wheat to produce ethanol is creating major negative impacts as more and more farmers are switching from food production to ethanol feedstock production. This has resulted in significant increases in the price of certain food products such as corn syrup, animal feed, and corn flour for tortillas. The switch is also contributing to the detriment of other crops, rising food costs and inflation as well as monopolizing farmland and is contributing to global food shortages. Using food as a fuel source is not a practical long-term solution."

"It is important to remember," continued Jackson, "that the Syntec technology can use a wide variety of cheap, waste biomass without any impact on food supply."

ABOUT THE SYNTEC PROCESS

Syntec Biofuel is a leading technology company with proprietary catalysts and processes that produce ethanol, methanol and higher order alcohols from a wide variety of waste biomass and/or biogas. Based in Vancouver, Canada, this cellulosic ethanol process reduces lifecycle GHG emissions by approx. 90% and does not use valuable food stock such as corn, wheat, sugar or vegetable oils.

This press release contains statements about future performance, events or developments, which are also known as "forward-looking statements." Forward-looking statements are based on current expectations, estimates, forecasts and projections about us, our future performance and the industries in which we operate as well as on our management's assumptions and beliefs. Statements that contain words like "expects", "anticipates", "targets", "goals", "projects", "intends", "plans", "believes", "seeks", "estimates" or variations of such words and similar expressions are forward-looking statements. Since they 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. Actual outcomes and results may differ materially from what is expressed or forecasted in such forward- looking statements. Some of the risks and uncertainties include: our ability to achieve commercialization, the social, political and economic risks of our operations; changes to existing regulations or technical standards; existing and future litigation; our ability to protect our intellectual property rights and exposure to infringement claims by others; and compliance with environmental, health and safety laws. For a description of these and some other risks and uncertainties, you should read the reports we have filed with the Securities and Exchange Commission, including periodic reports on Forms 10-K, 10-Q and 8-K. Except as required under the federal securities laws and the rules and regulations of the SEC, we do not have any intention or obligation to update publicly any forward-looking statements we make, even if new information, future events, changes in assumptions or any other reason would alter those statements. Furthermore, we urge you not to invest in our company if in the event the company failed your investment loss would affect your living standards.

Contacts: Syntec Biofuel Inc. Nancy Ross (604) 648-2092 (604) 648-2091 (FAX) Email: info@syntecbiofuel.com Website: www.syntecbiofuel.com

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