Diversified Ethanol a Division of James Monroe Capital Corporation Begins Assembling First Ethanol Plant.

CHICAGO -- Diversified Ethanol a Division of James Monroe Capital Corporation (Pink Sheets:JMCP) has purchased components to begin building its first small-batch ethanol plant, and begins component construction today.

The company selected a proven engineering design, known for its energy efficiency and cost effectiveness, and has begun purchasing tanks, pumps, and is building heat exchangers already. Diversified CEO Taylor Moffitt said, "We are still receiving bids on many of the components, but we intend to have this plant operational ASAP so we can move on to expanding it."

The company is in talks with a city development officials in Iowa towns regarding special incentives, such as tax breaks or forgivable loans, to bring jobs to the area. The company is building plant components in a temporary location until a permanent location can be been finalized.

Moffitt said, "The design we have chosen is literally a prize winner, so we know what to expect. After OPEC's leader made a statement on Friday that there has been too much oil in the market, we figured that meant they might cut oil production. We want to be producing ethanol this summer."

This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.