GNB New Gen Biofuels

Company Releases 2008 Achievements HOUSTON, June 30 /PRNewswire-FirstCall/ -- New Generation Biofuels Holdings, Inc. (AMEX:GNB), a development stage renewable fuels provider, is pleased to announce Mr. Phillip R. Cherry Jr. has been appointed to the position of Vice President, Engineering and Operations. Cherry joins New Generation Biofuels as the company completes test burn programs with three leading utility companies and begins production to fulfill its first fuel contract for a power generation customer who has chosen New Generation Biofuels as its renewable energy option. Cherry will be directly responsible for the site selection and construction of the first commercial scale biofuel plant for New Generation Biofuels. Cherry, recently with the ethanol producer VeraSun, brings a wealth of biofuel technology knowledge to his role in overseeing all aspects of the design, development, construction, and operation of New Generation Biofuels' production facilities. David A. Gillespie, President and CEO of New Generation Biofuels, said, "We are excited to have Mr. Cherry on-board, and we believe his talents will complement the direction and growth of New Generation Biofuels. The company has reached several key milestones within the past 12 months. These include successful test burn programs with three leading utility scale power producers. The successful test burns led to its first sales contract to supply up to 1.7 million gallons annually of biofuel to a major west coast independent power producer. Now is the time to bring Phillip Cherry on board to manage operational growth." "Our power generation customer response to New Generation Biofuel is excellent," states Gillespie. "Overall emissions are lower, including Nitrogen Oxide (NOx) reductions in excess of 40% and our biofuel can be burned without significant modification to existing facilities. We have also been working towards reducing reliance on food source feedstocks by utilizing recycled vegetable oils in many of our test burns. "On April 15, 2008, New Generation Biofuels was listed on the American Stock Exchange. We believe this listing will not only provide greater recognition for New Generation Biofuels in the investment community, but also a more liquid, efficient market for our stock, reinforcing our objective of maximizing shareholder value," stated David Gillespie. On Friday, June 27th, New Generation Biofuels joined the Russell Microcap Index, which provides for the inclusion of our common stock in a number of growth and value style funds tied to the Russell Microcap Index. About New Generation Biofuels Holdings, Inc. New Generation Biofuels is a development stage renewable fuels provider. We hold an exclusive license for North America, Central America and the Caribbean to commercialize proprietary technology to manufacture alternative biofuels from vegetable oils and animal fats that we intend to market as a new class of biofuel for power generation, heavy equipment, marine use and as heating fuel. We believe our proprietary biofuel can provide a cheaper, renewable alternative energy source with significantly lower emissions than traditional fuels. Our business model calls for establishing direct sales from manufacturing plants that we may purchase or build and sublicensing our technology to qualified licensees. Forward Looking Statements This news release contains forward-looking statements. These forward-looking statements concern our operations, prospects, plans, economic performance and financial condition and are based largely on our current beliefs and expectations. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results expressed or implied by such forward-looking statements. The risks and uncertainties related to our business include all the risks attendant a development stage business in the volatile energy industry, including, without limitation, the risks set forth under the caption "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2007. All forward-looking statements included in this news release are based on information available at the time of the release. We are under no obligation to update or alter our forward-looking statements, whether as a result of new information, future events or otherwise. CONTACT: David Gillespie, President & CEO New Generation Biofuels, Inc. 713-973-5720 Rob Schatz Wolfe Axelrod Weinberger Associates, LLC 212-370-4500 DATASOURCE: New Generation Biofuels Holdings, Inc. CONTACT: David Gillespie, President & CEO, New Generation Biofuels, Inc., +1-713-973-5720; Rob Schatz, Wolfe Axelrod Weinberger Associates, LLC, +1-212-370-4500

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