Pacific Ethanol, Inc. to Implement Corn Oil Technology

SACRAMENTO, Calif., June 21, 2012 (GLOBE NEWSWIRE) -- Pacific Ethanol, Inc. (Nasdaq:PEIX), the leading marketer and producer of low-carbon renewable fuels in the Western United States, announced it will install corn oil separation technology at the Pacific Ethanol Magic Valley plant with the intention to further implement corn oil separation at the other Pacific Ethanol Plants by the end of the first quarter of 2013. The company has awarded ICM Inc., a leading provider of innovative technologies, solutions, and services to sustain agriculture and advance renewable energy, with a turn-key installation contract for its patented Advanced Oil Separation System™, which is expected to be installed at the Magic Valley plant by the close of 2012. The company anticipates corn oil separation will begin generating revenue in the first quarter of 2013.

Neil Koehler, the company's president and CEO, stated: "Consistent with our efforts to further diversify our revenue streams and improve plant performance, we will install corn oil separation technology at our Magic Valley plant. We expect to soon award future contracts for the three other Pacific Ethanol plants. Corn oil is a high value product for the Pacific Ethanol plants. The Magic Valley plant is expected to produce approximately 12 million pounds of corn oil per year, which at current prices would contribute as much as $4.5 million, or seven cents per gallon, of operating income annually."

About Pacific Ethanol, Inc.

Pacific Ethanol, Inc. (Nasdaq:PEIX) is the leading marketer and producer of low-carbon renewable fuels in the Western United States. Pacific Ethanol also sells co-products, including wet distillers grain (WDG), a nutritional animal feed. Serving integrated oil companies and gasoline marketers who blend ethanol into gasoline, Pacific Ethanol provides transportation, storage and delivery of ethanol through third-party service providers in the Western United States, primarily in California, Arizona, Nevada, Utah, Oregon, Colorado, Idaho and Washington. Pacific Ethanol has a 34% ownership interest in New PE Holdco LLC, the owner of four ethanol production facilities. Pacific Ethanol operates and manages the four ethanol production facilities, which have a combined annual production capacity of 200 million gallons. The facilities in operation are located in Boardman, Oregon, Burley, Idaho and Stockton, California, and one idled facility is located in Madera, California. The facilities are near their respective fuel and feed customers, offering significant timing, transportation cost and logistical advantages. Pacific Ethanol's subsidiary, Kinergy Marketing LLC, markets ethanol from Pacific Ethanol's managed plants and from other third-party production facilities, and another subsidiary, Pacific Ag. Products, LLC, markets WDG. For more information please visit www.pacificethanol.net.

The Pacific Ethanol, Inc. logo is available at https://www.globenewswire.com/newsroom/prs/?pkgid=5940

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

With the exception of historical information, the matters discussed in this press release including, without limitation, the ability of Pacific Ethanol to continue as the leading marketer and producer of low-carbon renewable fuels in the Western United States; the successful installation of corn oil separation technologies, the resulting yields and revenue, and contribution to operating income and the timing of the foregoing are forward-looking statements and considerations that involve a number of risks and uncertainties. We have tried to identify forward-looking statements by using words like "believe," "expect," "may," "will," "could," "seek," "estimate," "continue," "anticipate," "intend," "future," "plan" or variations of those terms, including their use in the negative. You should not place undue reliance on these forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, adverse economic and market conditions; changes in governmental regulations and policies; and other events, factors and risks previously and from time to time disclosed in Pacific Ethanol's filings with the Securities and Exchange Commission including, specifically, those factors set forth in the "Risk Factors" section contained in Pacific Ethanol's Form 10-K filed with the Securities and Exchange Commission on March 8, 2012.

CONTACT: Company IR Contact:
         Pacific Ethanol, Inc.
         916-403-2755
         866-508-4969
         Investorrelations@pacificethanol.net

         IR Agency Contact:
         Becky Herrick
         LHA
         415-433-3777

         Media Contact:
         Paul Koehler
         Pacific Ethanol, Inc.
         503-235-8241
         paulk@pacificethanol.net

Released June 21, 2012