Interim Results

Ethanol Investments PLC
29 September 2006



                            Ethanol Investments plc
                            ('EI' or 'the Company')
                                        
            Interim Results for the Six Months Ended 30th June 2006

Ethanol Investments plc (AIM: ENT), the ethanol investment company, today 
announces un-audited interim results for the six months ended 30th June 2006.

CHAIRMAN'S STATEMENT

The Company remained an investment company throughout the period under review, 
with net cash and short term investments of approximately £800,000 as of 30 
June 2006.

The audited results for the six months ended 30 June 2006 show that your Company
incurred a loss, both before and after taxation of £123,000 (30 June 2005:
£100,000), resulting in a loss per share of 0.01 pence. During the period under
review, costs remained tightly controlled, despite the obvious need to
facilitate the growing amount of due diligence associated with your Company's
recent change of strategy.

Business Review

This is the first set of results for the Company following its Annual General 
Meeting held on 25 July 2006, which approved the change of investment strategy 
and a change of name for the Company to Ethanol Investments plc. As I reported 
at the time, pursuant to this new strategy, your Board has been reviewing a 
number of potential investment opportunities in the ethanol services and 
production sector. Whilst we continue to monitor several possible opportunities, 
I am pleased to report that in the period since 30 June 2006, your Company has 
narrowed down this review, and has entered into exclusive negotiations on one 
particular potential investment, in the North American ethanol marketplace. 
These negotiations are expected to be concluded, one way or other, within the 
next four to six weeks. Should they prove successful, it is it is anticipated 
that some or all of the investment consideration will be satisfied by the issue 
of new ordinary shares in the Company at a premium to the current share price.

We will report back on the outcome of these specific negotiations as soon as
practicable.

Your Board continues to view the ethanol marketplace as offering exceptionally
attractive potential investment opportunities. The quality and range of such
proposals being received by your Company is such that we are increasingly
confident of our ability to create a major investment force in this exciting
sub-sector of the renewable energy sector.

P J Greensmith

Chairman

29 September 2006

                            ETHANOL INVESTMENTS PLC
                            PROFIT AND LOSS ACCOUNT
                 FOR THE PERIOD 1 JANUARY 2006 TO 30 JUNE 2006

                                         1 January     1 January          Year
                                              2006          2005         ended
                                        to 30 June    to 30 June   31 December
                                              2006          2005          2005
                                        (Unaudited)   (Unaudited)     (Audited)
                                               £000          £000         £000

Turnover                                          -             -            -

Cost of sales                                     -             -            -
                                         ----------     ----------    ---------
Gross loss                                        -             -            -

Administrative expenses                        (142)          (80)        (173)
                                         ----------     ----------    ---------
Operating loss                                 (142)          (80)        (173)

Interest receivable                              19             -            1
Interest payable                                  -           (20)         (25)
                                         ----------     ----------    ---------
Loss on ordinary activities before
and after tax and loss for the financial
period                                         (123)         (100)        (197)

Loss per share - basic and diluted            (0.01)p       (0.05)p      (0.06)p



Notes:

1.                  Basic loss per share has been calculated using a loss for
the financial period of £123,000 (£197,000 loss for the year ended 31 December
2005 and £100,000 for the six month period ended 30 June 2005) and a weighted
average number of ordinary shares in issue during the period 1 January 2006 to
30 June 2006 of 1,402,491,371 (341,077,882 for the year ended 31 December 2005
and 203,305,780 for the six month period ended 30 June 2005).

Exercise of the Company's share options would not result in any dilution in the
loss per share.

2.                  The Company has no liability to current taxation due to the
existence of tax losses. The Company has no potential liability to deferred
taxation.

                            ETHANOL INVESTMENTS PLC
                                 BALANCE SHEET

                               AS AT 30 JUNE 2006

                                            30 June        30 June 31 December
                                               2006           2005        2005
                                        (Unaudited)    (Unaudited)   (Audited)
                                               £000           £000        £000

Current assets
Debtors                                           9              4           3
Cash at bank                                    785              1         925
                                         ----------     ----------    ---------                                    
                                                794              5         928
Creditors: amounts falling due within
one year                                        (70)          (431)        (81)
                                         ----------     ----------    ---------
Net assets/(liabilities)                        724           (426)        847
                                         ==========     ==========    =========
Capital and reserves                      
Called up share capital                         538            508         538
Share premium account                         1,952            612       1,952
Profit and loss account                      (1,766)        (1,546)     (1,643)
                                         ----------     ----------    ---------
Shareholders' funds/(deficit)                   724           (426)        847
                                         ==========     ==========    =========

Notes                                     

1.                  The interim financial statements have not been audited and
they do not constitute full financial statements within the meaning of s240 of
the Companies Act 1985.

2.                  The interim financial statements have been prepared in
accordance with applicable accounting standards.

3.                  Copies of this interim report are being posted to all of the
Company's shareholders. Further copies can be obtained by writing to The Company
Secretary, Ethanol Investments plc, Number 14, The Embankment, Vale Road, Heaton
Mersey, Stockport, Cheshire, SK4 3GN.



                            ETHANOL INVESTMENTS PLC

                              CASH FLOW STATEMENT
                 FOR THE PERIOD 1 JANUARY 2006 TO 30 JUNE 2006

                                       
                                         1 January       1 January        Year
                                              2006            2005    ended 31
                                        to 30 June      to 30 June    December
                                              2006            2005        2005
                                        (Unaudited)    (Unaudited)   (Audited)
Reconciliation of operating loss to            £000           £000        £000
net cash outflow from operating
activities
Operating loss                                 (142)           (80)       (173)
Intellectual property impairment                  -             17          17
Expenses satisfied by the issue of
shares                                            -                         47
Increase in debtors                              (6)            (3)         (2)
(Decrease)/increase in creditors                (11)             3          33
                                         ----------     ----------   ---------    
Net cash outflow from operating
activities                                     (159)           (63)        (78)

Returns on investment and servicing
of finance
Interest received                                19              -           1
                                         ----------     ----------   ---------
Cash outflow before financing                  (140)           (63)        (77)
                                         ----------     ----------   ---------
Financing
Issue of ordinary share capital                   -              -         956
Expenses of share issues                          -              -         (30)
Loans received                                    -             30          42
Loans advanced                                    -              -           -
                                         ----------     ----------   ---------
                                                  -             30         968
                                         ----------     ----------   ---------
(Decrease)/increase in cash for the
period                                         (140)           (33)        891
                                         ==========     ==========   =========
                                          


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