Xethanol Corporation (AMEX:XNL - News), a renewable biofuels company, today announced that three leading University of Georgia scientists in biomass fuel production have signed consulting agreements with the Company. The scientists are Dr. Elliot Altman, Director of the Center for Molecular Bioengineering; Dr. Thomas Adams, Director of the Outreach Service of the Faculty of Engineering; and Dr. Mark Eiteman, Professor of Engineering, all of UGA in Athens, Georgia.

Their primary work plan is aimed at microbial methods of making ethanol efficiently, using natural materials and feedstocks to assist private industry to produce cellulosic ethanol at an acceptable and profitable cost. The second focus of their work involves the conversion of starch waste, such as bakery waste, into ethanol. The team's first project for Xethanol is expected to focus on the rapid assessment of commercial viability for technology to convert bakery waste into ethanol fuel to be added to gasoline for motor vehicles. Much of that bakery waste is now collected regionally and made into animal feed.

About Xethanol Corporation

Xethanol Corporation is a renewable energy company focused on the production of ethanol and co-products. The company is developing and executing a two-pronged business strategy - a technology strategy in which it works with leading scientists to license, acquire and commercialize innovative technologies; and a production strategy in which it plans to develop operating facilities located at or near the source of waste biomass and in proximity to high demand ethanol markets. For more information about Xethanol, please visit its website at http://www.xethanol.com.

Some of the statements made in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and include known and unknown risks, uncertainties and other factors, many of which the company is unable to predict or control, that may cause the company's actual results or performance to differ materially from any future results or performance expressed or implied by such forward-looking statements. These statements involve risks and uncertainties, including risks and uncertainties associated with the research to be performed by the UGA scientists; the parameters of the research to be undertaken; the time it will take to perform the research; and the ultimate results of the research, particularly whether the technology will prove to be commercially viable. These risks and uncertainties are in addition to other factors detailed from time to time in the company's filings with the SEC, including the section entitled "Risk Factors" in its annual report on Form 10-KSB for the year ended December 31, 2006, as amended. The company is not responsible for updating the information contained in this press release beyond the published date, or for changes made to this document by wire services or Internet services.