Green Plains Renewable Energy: Redemption of 5.75% Convertible Senior Notes Due 2015

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OMAHA, Nebraska - Green Plains Renewable Energy, Inc. (Nasdaq:GPRE) announced that it has given notice of its intention to redeem all of the outstanding 5.75% Senior Convertible Notes due 2015 (CUSIP 393222AB0) (the "2015 Convertible Notes") pursuant to the provisional "optional redemption" right in the indenture governing the 2015 Convertible Notes. As of February 13, 2014, there was $90.0 million aggregate principal amount of the 2015 Convertible Notes outstanding.

Any 2015 Convertible Notes outstanding on March 20, 2014 will be redeemed in cash for 100% of the principal amount, plus accrued and unpaid interest to, but excluding, the redemption date. The 2015 Convertible Notes are convertible at any time prior to 5:00 p.m. Eastern time on March 19, 2014 into shares of Green Plains common stock. The current conversion rate is 72.5846 shares per $1,000 principal amount, including the make whole shares (equivalent to a conversion price of approximately $13.78). Green Plains will make an adjustment to the conversion rate as a result of a recently announced cash dividend on its common stock immediately after the record date of February 28, 2014. On February 13, 2014, the closing price for Green Plains common stock was $24.70.

A Notice of Redemption was distributed to all registered holders of the 2015 Convertible Notes on February 14, 2014.

About Green Plains Renewable Energy, Inc.

Green Plains Renewable Energy, Inc. (Nasdaq:GPRE), which is North America's fourth largest ethanol producer, markets and distributes over one billion gallons of ethanol annually. Green Plains owns and operates grain storage assets in the corn belt and biofuel terminals in the southern U.S. Green Plains is a joint venture partner in BioProcess Algae LLC, which was formed to commercialize advanced photo-bioreactor technologies for growing and harvesting algal biomass.

Jim Stark; VP - Investor & Media Relations, Green Plains Renewable Energy. (402) 884-8700
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