BIOPETROL INDUSTRIES AG
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BIOPETROL successfully launches convertible bond

NB: Please note the disclaimer at the end of this press release

Zug, 1 February 2007. BIOPETROL INDUSTRIES AG announces that it has successfully issued €75m senior, unsecured, convertible notes with a 5 year maturity ("the Notes"). The coupon on the Notes will be 4% payable annually in arrears and the initial conversion price will be €10.1382 representing a premium of 27.5% to the reference price of €7.9515 determined by the concurrent sale of BIOPETROL Ordinary Shares by Dresdner Kleinwort, in connection with the Offering. The Notes are convertible into 7,397,790 shares representing 19.99% of Biopetrol's current issued share capital.

The issue of the Notes will finance the further expansion of BIOPETROL. The company will commence construction of a third plant, which is expected to start production in autumn 2007. Following this the company will increase its aggregate annual capacity at Rotterdam, Rostock and Schwarzheide from 350,000 to 1,000,000 tons for biodiesel and to 110,000 tons for glycerines by 2008. BIOPETROL has issued the Notes to benefit from the attractive financing opportunities currently available in the convertible bond market.

The Notes were offered to institutional investors outside the United States in reliance on Regulation S under the US Securities Act of 1933, as amended. Settlement is expected to take place on or around 21 February 2007. Application will be made to list the Notes on the Luxembourg Stock Exchange (EuroMTF segment). Dresdner Kleinwort is acting as sole bookrunner of the Offering.

For further information please contact Mr Jörg-Alexander Seidel at Dresdner Kleinwort, Phone +49 (0) 69 7131 4407

Disclaimer
This announcement does not constitute an offer to sell, exchange or transfer any securities of Biopetrol or Biopetrol Finance B.V. and is not soliciting an offer to purchase, exchange or transfer such securities in any jurisdiction where the offer, sale, exchange or transfer is not permitted or to any person or entity to whom it is unlawful to make that offer, sale, exchange or transfer. The securities may not be offered or sold in the United States to, or for the account or benefit of U.S. persons (as such term is defined in Regulation S under the U.S. Securities act of 1933) unless they are registered or exempt from registration. There will be no public offer of securities in the United States. In the United Kingdom this announcement is directed exclusively at persons who fall within article 19 or 49 of the financial services and markets act 2000 (financial promotion) order 2005 or to whom this announcement may otherwise be directed without contravention of section 21 of the financial services and markets act 2000. The bonds referred to in this announcement shall be issued only to such persons. Stabilisation/fsa

About the company:
BIOPETROL INDUSTRIES AG, based in Zug, Switzerland, produces and distributes with its German and Dutch subsidiaries biodiesel and pharmaceutical grade glycerine of the highest quality. Its customers include the mineral oil industry and oil traders, large fleet operators, public transport, agriculture and the construction industry. In addition, glycerine is supplied to the pharmaceuticals and cosmetics industries.

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