AE Biofuels Announces Key Management Appointments

Business Wire,  June 24, 2008  

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* Parkash Ahuja named COO, AE Biofuels, Inc.

* Andy Foster named President and COO of American Ethanol, the ethanol subsidiary of AE Biofuels

* Scott Janssen hired as Senior VP of Finance

* Todd Waltz hired as Controller

* Todd Capser promoted to VP of Project Development

CUPERTINO, Calif. -- AE Biofuels, Inc., (OTCBB:AEBF), a vertically integrated biofuels company, today announced the appointment of Parkash Ahuja as Chief Operating Officer. Andy Foster has been promoted to President and Chief Operating Officer of American Ethanol, the ethanol subsidiary of AE Biofuels, where he will lead the commercialization of the company's patent-pending cellulosic ethanol technology. Scott Janssen has been appointed Senior Vice President of Finance, Todd Waltz joins the company as Controller, and Todd Capser has been promoted to Vice President of Project Development for cellulosic ethanol projects.

In announcing the new positions, Eric McAfee, Chairman and CEO of AE Biofuels, Inc., commented, "I am excited about the depth of knowledge and experience this team brings to AE Biofuels. Parkash is a seasoned executive and has a track record of successful strategy development and execution with multi-billion dollar companies. In Andy's new role as President and COO of American Ethanol, he will be completing our cellulosic ethanol demonstration plant, and launching our commercial production."

He continued, "We have further strengthened our finance function with the addition of Scott Janssen as Senior VP of Finance, and Todd Waltz as Controller. Todd Capser has contributed significantly to the company's progress including project management of our cellulosic ethanol demonstration plant in Butte, Montana."

Before joining AE Biofuels, Parkash Ahuja served in Senior Executive roles at Charles Schwab & Co., (NASDAQ:SCHW), Citadel Investment Group, Sprint, (NYSE:S), and Sun Microsystems, (NASDAQ:JAVA).

Scott Janssen has over 15 years in corporate finance and public accounting, with significant experience with IPO's, mergers and acquisitions, and debt financing. Mr. Janssen has held positions with Avanex, (NASDAQ:AVNX), and Ernst & Young LLP.

Todd Waltz has served as interim Controller for AE Biofuels since July 2007. Prior to joining the company, Mr. Waltz spent 12 years at Apple Inc., (NASDAQ:AAPL), most recently managing all financial aspects for the .Mac and Online Services businesses.

For additional biographical information about AE Biofuels' management team, please visit www.aebiofuels.com/management.php

About AE Biofuels

AE Biofuels, Inc. is a global vertically integrated biofuels company developing sustainable solutions to the world's renewable energy needs. The company is commercializing its patent-pending next-generation cellulosic ethanol technology that enables the production of biofuels from both non-food and traditional materials. AE Biofuels owns or has optioned five permitted ethanol plant sites in the United States, and its Universal Biofuels subsidiary owns a 50 million gallon biodiesel facility on the east coast of India. For additional information about AE Biofuels, please visit www.aebiofuels.com.

Forward-Looking Statements

The information contained herein includes forward-looking statements. These statements relate to future events or to the company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements.

Investors should not place undue reliance on forward-looking statements since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond the company's control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements.

Any forward-looking statement reflects the company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity, and in particular our ability to obtain project finance for the project, market conditions, and government laws and regulations. The company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.

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