BioFuels Journal

Sacramento, CA—Pacific Ethanol, Inc. (NASDAQ GM: PEIX), the leading West Coast-based marketer and producer of ethanol, announced November 17 an adjustment to its previously reported financial results for the quarter ended September 30, 2008.

Full Pacific Ethanol Adjusted 3Q Earnings Report

The Company previously reported a non-cash asset impairment charge of $26.6 million related to its suspended Imperial Valley ethanol plant construction project, which represented $43.8 million in property and equipment less $17.2 million in construction-related liabilities.

The Company increased its impairment charge by $14.3 million to a total of $40.9 million.

The increase represents impairment on the gross amount of $43.8 million in property and equipment less estimated future undiscounted cash flows.

This increase will result in future non-cash gains to the extent the Company is discharged from its construction-related liabilities.

The Company’s independent registered public accounting firm has completed its review of the Company’s financial statements for the period and the Company expects to file its Form 10-Q for the period on November 17, 2008.

For more information, call 916-403-2123.