28.4.2006: Meldung: Former UBS PaineWebber Chairman to Provide Strategic Guidance to Xethanol

Xethanol Corporation, a biotechnology driven ethanol company, announced today that it has named Joseph Grano, Jr., former Chairman and Chief Executive Officer of UBS PaineWebber, to the Company"s Advisory Board.

The Advisory Board consults with and advises Xethanol"s Board of Directors and Management on a range of business matters including strategic alliances, growth opportunities and corporate financings.

Christopher d"Arnaud-Taylor, Chairman and CEO of Xethanol, commented: "We are fortunate to have an individual of Mr. Grano"s caliber advising Xethanol. As we execute our growth strategy to build Xethanol into a premier biofuels company, Mr. Grano"s global experience in finance, business development and government relations, will provide invaluable benefits to the Company."

Mr. Grano stated: "I am impressed with Xethanol"s business strategy and management. It is time that we in the private sector engage in the critical task of developing alternative energy sources. Ethanol is considered one our viable fuel options and I am excited with the prospect of contributing to its further development and usage to reduce dependency on foreign oil. I look forward to working with the Board of Directors and Management of Xethanol in furtherance of these objectives."

Mr. Grano has been one of the financial service industry"s leading executives over the past 30 years. He currently heads Centurion Holdings, LLC and formerly served as Chairman of the President"s Homeland Security Advisory Council. Previously, Mr. Grano was Chairman and CEO of UBS PaineWebber. Prior to the merger of the two companies, Mr. Grano was President of the PaineWebber Group where he oversaw the acquisition of Kidder, Peabody and J.C. Bradford and was instrumental in the merger of PaineWebber and UBS.

About Xethanol Corporation

Xethanol Corporation"s goal is to be the leader in the emerging biomass-to-biofuels industry. Xethanol"s mission is to optimize the use of biomass in the renewable energy field and convert biomass that is currently being abandoned or land filled into ethanol and other biofuels. Xethanol"s strategy is to deploy proprietary biotechnologies that will extract and ferment the sugars trapped in these biomass waste concentrations. Xethanol"s strategic value proposition is to produce ethanol and other biofuels cost effectively with production facilities located closer to biomass and waste sources. In Iowa, Xethanol owns two ethanol facilities, where it is deploying these technologies. For more information about Xethanol, please visit its website at http://www.xethanol.com. To receive information on Xethanol in the future, please click on the following link: http://www.xethanol.com/alerts.htm?b=1387&l=1

Forward-Looking Statements

Certain matters discussed in this press release are "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words, such as "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe Xethanol"s future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the financial performance of Xethanol, as appropriate, which could cause actual results to differ materially from those currently anticipated. Although Xethanol believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it cannot give any assurance that their expectations will be attained. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Certain factors could cause results and conditions to differ materially from those projected in these forward-looking statements, and some of these factors are discussed below. These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. These forward-looking statements are only made as of the date of this press release and Xethanol does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

Martin E. Janis & Company, Inc.
Beverly Jedynak (Media), 312-943-1100 (ext. 12)
Amy Ruffalo (Media), 312-943-1100 (ext. 15)
Capital Group Communications, Inc.
Anthony Evans/Mark Bernhard (Investors), 415-332-7200

Source: Xethanol Corporation
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