This is the second target of the GeoBio Energy roll up strategy for acquiring profitable petroleum wholesale distribution and haulage companies in the Southwestern United States, and is expected to compliment GeoBio Energy’s first proposed target, a third generation fuel distributor serving customers in Utah, Arizona and Colorado, announced April 3, 2008. Within the next 12 months, GeoBio Energy intends to acquire 3 – 4 additional distributors, each offering positive synergies and combined total revenues in excess of $150+ million and with contributing positive EBITDA. The Letter Agreement requires the parties complete preliminary due diligence prior to entering a definitive agreement.

“This marks the second milestone toward the completion of several planned acquisitions of fuel distribution and haulage companies in the Southwestern United States,” said CEO, Ken Bennett.

About GeoBio Energy:

Through a vertical integration strategy GeoBio Energy intends to become a plant to pump solution in the quest for energy independence and a cleaner environment. The company’s business model emphasizes the acquisition of existing, profitable wholesale distribution and haulage companies, with the goal of increasing profitability through economies of scale and introducing available, alternative fuels to their customers. The company is working to develop and grow feed stocks for the production of low cost, alternative fuels that will not compete with acreage or resources dedicated to food crop production. GeoBio intends to focus on algae as a feedstock that, when produced on a commercial scale, has the potential to provide a low cost feedstock, non-competitive to food based sources, for the production of bio-fuel and offers a commercial scale solution for CO2 sequestration and other environmental challenges.

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Forward-Looking Statements

“Forward-looking statements,” as defined in the Private Securities Litigation Reform Act of 1995, may be included in this press release. These statements relate to future events and/or our future financial performance. These statements are only predictions and may differ materially from actual future events or results. GEOBIO disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. Please refer to the documents filed by GEOBIO with the Securities and Exchange Commission, which identify important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with our ability to (i) increase revenues, (ii) obtain profitability, (iii) obtain additional financing, (iv) manage changes in general economic and business conditions (including in the asset management and asset tracking industries), (v) react to actions of our competitors, (vi) develop new services and markets for our services, (vii) properly quantify the time and expense involved in such development activities, (viii) identify and manage risks in connection with acquisitions (ix) evaluate the level of demand and market acceptance of our services and (x) make necessary changes to our business strategies.

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