Core Ventures, LLC and Consolidated Biofuels Execute a Consulting and Management Agreement for 30 Million Gallon Biodiesel Plant.

DALLAS -- Consolidated Biofuels, Inc. (OTC:CBIO), an alternative fuel producer, announced today that it has signed a consulting agreement with Core Ventures, LLC. Under the agreement, Core Ventures will supply experienced management to oversee the location, construction and operation of the Company's first biodiesel production facility. Core Ventures will also assist the Company in securing contracts for feedstock and chemical procurement; as well as contracts for sales of biodiesel and glycerin.

The first of six planned by the Company, each facility will utilize a proven continuous flow process that will enable the Company to be competitive with other larger facilities in the region. Consolidated is also investigating several other applicable technologies to improve efficiencies as well as exploring other feedstock sources to integrate into the new facilities.

The National Biodiesel Board (www.biodiesel.org) in a news release titled Biodiesel Production Soars stated that it "anticipates 75 million gallons of biodiesel production in 2005. That's three times the 25 million gallons produced just one year earlier."

Christopher Sharon, President and CEO, stated "We are excited to be working with an organization as experienced as Core Ventures. This agreement will allow us to get our first facility underway and know we will have an experienced management staff to operate and oversee all aspects of the business."

About Consolidated Biofuels

Consolidated Biofuels is in the alternative fuels and energy field and is dedicated to a cleaner America by increasing the availability of competitive biodiesel fuel nationwide and expanding the effort to reduce pollution caused by petroleum derived diesel fuels.

Through tactical relationships, and by merging strategically located independent biodiesel production facilities located in the United States, Consolidated will amalgamate its resources to greatly enhance the facilities' capabilities, allowing producers to realize economies of scale advantages. Additional advantages encompass everything from improved management systems and practices to advanced technical solutions, infrastructure design and deployment.

For further information visit: http://www.consolidatedbiofuels.com

About Core Ventures, LLC

Core Ventures is an energy construction services company and has been engaged to assist Consolidated Biofuels in operations of its facility. Core Ventures offers energy construction services and financial consulting providing clients with the following services:

1) Construction planning and estimating,

2) Plant management energy services related to biodiesel, ethanol, wind and natural gas,

3) Seed stock procurement and energy product marketing/sales,

4) Construction financial modeling of construction site and plant operations, and

5) Assistance in fundraising of equity/debt.

For further information visit: http://www.c-ventures.com

This press release contains some forward-looking statements. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise. Forward-looking statements in this document should be evaluated together with the many uncertainties that affect our business.