ALL Fuels & Energy to Acquire 46MM Gallons of Annual Ethanol Production

ALL Fuels & Energy Company (PINKSHEETS: AFSE) today announced it has signed an exclusive letter of intent to acquire Ace Ethanol, LLC for $102.5 million. Ace Ethanol operates a 46 MM gallon per year Delta T design production facility in Stanley, WI.

"We are pleased to have reached this stage in our purchase of a quality ethanol producer with over $100 million in revenues and EBITA of over $33 million in 2006. ACE fits our model and strategically moves us closer to producing our goal of 500 MM gallons per year. We have worked with Ace for many months to structure terms that are beneficial for our shareholders as well as theirs. We look forward to the ACE member vote and the closing of this acquisition," said Dean Sukowatey, AFSE's President.

About ALL Fuels & Energy Company

Visit the company online at: www.allfuelsandenergy.com .

ALL Fuels & Energy Company (AFSE) recently acquired ALL Energy Company, a development-stage ethanol company organized to operate as an ethanol producer, focusing primarily on the production and sale of ethanol and its co-products. AFSE has adopted the business plan of ALL Energy Company. To date, AFSE has: obtained $2 million in private equity funding; purchased 150 acres on which to build its proposed ethanol production facility in Manchester, Iowa; signed a five-plant engineering and design agreement with Delta-T Corporation (Delta-T is a Virginia-based company with over twenty years of experience in the ethanol industry that management believes possesses superior expertise and superior technologies in the ethanol production space); engaged Natural Resources Group to handle water-related environmental matters relating to the proposed Manchester ethanol production facility; through the efforts of its air-related environmental consultant, Yaggy-Colby, obtained the final Air Quality Construction Permit, relating to the proposed Manchester ethanol production facility; and investigated and become involved in the potential acquisition of one or more existing ethanol production facilities, including Ace Ethanol.

Forward-Looking Statements

Certain matters discussed in this press release are "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words such as "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe AFSE's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the ability of AFSE to obtain needed financing, as well as the financial performance of AFSE, which could cause actual results to differ materially from those anticipated. Although AFSE believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, it cannot give any assurance that such expectations will be fulfilled. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Certain factors could cause results and conditions to differ materially from those projected in these forward-looking statements. These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. These forward-looking statements are only made as of the date of this press release, and AFSE does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

Contact: ALL Fuels & Energy Company Dean Sukowatey President 515-331-6509 allenergycompany@gmail.com