Gulf Ethanol Evolves to Gulf Alternative Energy Corporation

Gulf Alternative Energy Corporation (PinkSheets:GAEC) announced today that it has completed the process of changing its name from Gulf Ethanol Corp. The change is indicative of the Company�s move to advance its biomass processing technology beyond the ethanol industry. As the technology has developed, the company realized that there could be other alternative energy applications that would fit within the parameters of the technology platform.

Gulf Alternative Energy Corp. is developing a system that processes biomass, such as sorghum or switchgrass, into a fine powder. The Company expects this to increase the speed and efficiency of processing biomass into ethanol and other fuels. Only simple sugars can be fermented into ethanol so efficient conversion of the materials is essential to cellulosic ethanol production.

About Gulf Alternative Energy Corporation

Gulf Alternative Energy is an alternative energy company focused on the development of the cellulosic ethanol industry with a particular emphasis on Texas and the Gulf Coast.

For more information, visit www.gulfethanolcorp.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.

Gulf Alternative Energy (CE) (USOTC:GAEC)
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