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D1 Oils Plc (NEOS)

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Thursday 25 May, 2006

D1 Oils Plc

AGM Statement

D1 Oils Plc
25 May 2006


RNS Release
                              Annual General Meeting

25 May 2006

D1 Oils plc (D1), the UK-based global producer of biodiesel, today will hold its
Annual General Meeting.

Opening the meeting, Chairman Karl Watkin will make the following statement:

During 2005, the first full year of D1's operation as a public company, we made
good progress in establishing the foundations on which to build our global
biodiesel business. We achieved our key planting and refining targets and learnt
much about where and how to prioritise our activities. Since the year end, our
management, led by a new Chief Executive, reaffirmed our intention to be a
global leader in biodiesel and we are now striving to take advantage of the
growing international push for renewable fuels. Our strategy is firmly set on
delivering value from earth to engine through our three core activities of
agronomy, refining and trading.

In agronomy, we are pioneering the science, planting and production of inedible
vegetable oils to significantly enhance crop yields. We announced in our most
recent quarterly update on 26 April, that, as of 31 March 2006, we have planted
or obtained the rights to offtake from a total of 42,100 hectares of jatropha
planting worldwide. We anticipate further planting under existing arrangements
each year, and we continue to enter into further planting that will deliver
greater value. We expect the bulk of this planting to be focused on low capital
intensive contract farming and seed purchase and oil supply agreements.


Our refining business has delivered a practical, modular biodiesel refinery, the
D1 20, which is now arousing significant interest worldwide and I am delighted
to announce today that :

• The first D120 is now producing biodiesel on Teesside and production is being
  increased to full capacity of 8,000 tonnes a year

• Units 2 and 3 have been delivered and a fourth will be delivered to the site
  today for commissioning

• The first four units will be in full production by the end of September 2006,
  creating an interim capacity of 32,000 tonnes per annum

• We will deploy to Middlesbrough the five additional units we have committed to
  produce by the end of this year, creating an installed interim capacity of
  72,000 tonnes per annum by year end

• During 2007 we intend to deploy integrated combinations of D1 20 units in the
  UK, adding approximately 150,000 tonnes of new capacity. Although this process
  is at an early stage, we intend our total UK biodiesel production capacity to 
  exceed 220,000 tonnes by the end of 2007

• With an operating capacity of this scale, we will be in a position to meet a
  major proportion of the growing demand for biodiesel created by the 
  introduction of the UK's Renewable Transport Fuel Obligation (RTFO)

• Our target is to refine a minimum of 150,000 tonnes of biodiesel in calendar
  year 2007

• Our analysis indicates that our combination refineries can produce biodiesel
  on terms which are competitive with larger plants. In addition our refineries
  can be ordered, installed and made operational in a significantly shorter time
  frame, and at lower risk and lower cost than larger plants, enabling refinery
  operators to generate revenue more quickly

• The market is recognising the performance and flexibility of the modular D1
  20. We expect therefore to build on the success of the recently announced
  Australia-New Zealand franchise in other areas soon

• D1 has created 10,000 new jobs in areas designated as suffering from rural
  poverty, making a very real difference to the economies of developing countries

We are exploring a number of options to put in place a trading business which
will source, transport and trade the commodities necessary to support our
agronomy and refining operations.

The operational management of the business has been considerably strengthened
under Elliott's stewardship, and the Board believes the business to be firmly
set to deliver its earth to engine global strategy.


Contacts:


D1 Oils:

Graham Prince, Head of Corporate Communications
Tel: +44 (0) 1642 755580
Mobile: +44 (0) 7973 323840


Brunswick Group:
Gill Ackers, Partner
Tel: +44 (0) 20 7404 5959



Notes to Editors


D1 Oils plc is a UK-based global producer of biodiesel. We are building a global
supply chain and network that is sustainable and delivers value from
'earth-to-engine'. Our operations cover agronomy, refining and trading. We are
pioneering the science, planting and production of inedible vegetable oils; we
design, build, own, operate and market biodiesel refineries; and we source,
transport and trade seeds and seedlings, seedcake, crude vegetable oils and
biodiesel. Our vision is to be the world's leading biodiesel business.



                      This information is provided by RNS
            The company news service from the London Stock Exchange