Badger State Ethanol , LLC

Badger State Ethanol intends to build a corn-based grain processing facility that will produce ethanol and two (or three) other co-products. The project will be located in Monroe, Wisconsin, 40 miles south of Madison. Upon completion during the fall of 2002, the project expects to produce 40 million gallons per year of denatured fuel grade ethanol for sale to the Midwest markets. Some of the attributes of the project are enumerated below: Badger State Ethanol expects be a top-twenty ethanol producer after the project is completed. Badger State Ethanol will be a low cost ethanol producer. BSE will achieve this by building a plant with good economies of scale and by locating its plant close to the markets for its ( www.badgerstateethanol.com )