BFC Biofuels

RNS Number:3260X
Biofuels Corporation PLC
29 May 2007



Biofuels Corporation plc
(the "Company")


Financing update


In its announcement of 28 March 2007 the Board confirmed that it was
investigating a range of options to restructure the current debt in order to
secure the Company's longer term future.  The Board can confirm that it has
received outline proposals from Barclays.  The Board intends to hold further
discussions with Barclays as soon as possible regarding the proposals.


Given the Company's current debt levels of circa #100million, shareholders are
reminded that in the event that there is any restructuring they would very
likely see their shareholding significantly diluted.  In addition, any
restructuring could lead to the Company seeking a cancellation of its listing.


The Company also indicated in its announcement of 28 March, that it would
require additional funding from 1 June 2007.  Barclays have indicated that they
will remain supportive of the Company with additional facilities made available
to meet the Company's medium-term requirements and a further announcement in
this regard will be made shortly.


                                                                     29 May 2007

ENQUIRIES:


College Hill                                 020 7457 2020

Mark Garraway

Gareth David



                      This information is provided by RNS
            The company news service from the London Stock Exchange
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