Update- proposed acquisition

Ethanol Investments PLC
03 April 2008



                            Ethanol Investments plc
                            ('EI' or 'the Company')

                                     Update

Ethanol Investments plc ('EI' or 'the Company'), notes the announcement made
earlier today by Libra Natural Resources plc ('LNR'), concerning the proposed
acquisition by EI, through its wholly owned subsidiary, of a portfolio of assets
from LNR.

EI is pleased to confirm, in line with the announcement made by the Company on
18 December 2007, that this proposed transaction forms part of a larger series
of acquisitions, which EI is currently in the final stages of negotiating.

The proposed acquisitions will comprise a reverse takeover of the Company under
the AIM Rules, and an admission document, containing full details of the
proposals and convening a general meeting of the Company, is expected to be
dispatched to shareholders in the near future.



For further information:
Ethanol Investments plc
Peter Greensmith, Chief Executive             Tel: [phone]

Seymour Pierce Ltd
Nominated Advisor & Broker                    Tel: [phone]
Jonathan Wright/Matthew Thomas

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