AlgoDyne Ethanol Announces Private Placement Offering.

LAS VEGAS -- AlgoDyne Ethanol Energy Inc. ("AlgoDyne" or the "Company") (OTCBB:ADYN) is pleased to announce its plans to raise US $1,000,000 through the issuance of shares in the capital stock of AlgoDyne Ethanol Energy Inc. at $0.70 per share. The shares to be offered in the Private Placement will not be registered under the United States Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements. The Company intends to issue the shares solely to United States residents who qualify under the accredited investor exemption from registration requirements. The Company intends to use the proceeds from the Private Placement to fund the acquisition of additional agricultural land in Saskatchewan and for working capital. The Private Placement, which is subject to regulatory approval, is expected to close on or about May 5, 2007.

Notice Regarding Forward-Looking Statements 

This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, the estimation, expectation and/or claim, as applicable, that: (i) AlgoDyne may close a US $1,000,000 private placement financing; (ii) the private placement financing will close on the date set out above; (iii) the private placement financing will be solely offered to US accredited investors; and (iv) AlgoDyne intends to use the proceeds from the private placement financing to acquire additional agricultural lands in Saskatchewan. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include: (i) the inherent uncertainties and speculative nature associated with the ethanol industry; (ii) any number of events or causes which may delay or cease AlgoDyne's business operations such as weather, mechanical failures, safety concerns, labour problems and financing problems; (iii) changes in economic conditions, adverse exchange rates and financial markets; (iv) the risk that AlgoDyne does not execute its business plan; (v) the inability to retain key employees; (vi) changes in the prices of ethanol; (vii) AlgoDyne's inability to finance its operations or growth; and (viii) the inability to obtain all necessary government, environmental and regulatory approvals. These forward-looking statements are made as of the date of this news release and AlgoDyne assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although AlgoDyne believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in AlgoDyne's periodic reports filed from time to time with the Securities and Exchange Commission and available at www.sec.gov.