GPRE announces progress on new ethanol plant

Las Vegas, NV, May 8, 2006 — Green Plains Renewable Energy Inc. announced that its second ethanol project near Superior, Iowa is progressing as planned. GPRE purchased 68 acres of land near Superior where the company intends to build a 50 million gallon, fuel grade ethanol plant.

The exact location of the plant has been cited by Agra Industries of Merrill, WI, GPRE’S design builder for the Superior project. An application for an air permit needed prior to the commencement of construction was submitted to the Iowa Department of Natural Resources on April 19, 2006, by NRG (Natural Resource Group) of Minneapolis, Minnesota. NRG is the consulting firm engaged by GPRE to do such work for the Company. NRG obtained GPRE’s air permit for its first 50 Million Gallon Ethanol project in Shenandoah, Iowa.

GPRE received a letter from the Union Pacific Corp. indicating to GPRE that Union Pacific has agreed to supply rail service to the Superior site. This determination is contingent upon the final rail design and layout meeting all UP Engineering and Operating design standards. This authorization was necessary for the project to proceed.

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