Press Release for week of August 2, 2004

Lincolnway Energy, LLC was formed for the purpose of building; owning and operating a coal fired dry mill ethanol plant to be located near Nevada, Iowa. Lincolnway Energy Board of Directors determined that the production facility should be designed for 50 million gallon annual capacity and that coal should replace natural gas as the plants primary power source.

The ethanol produced from approximately 18.5 million bushels of corn feedstock will be sold for blending with gasoline as an octane enhancer, and as a fuel oxygenate to meet federal fuel blending standards mandated in the Clean Air Act of 1990. The distiller’s grains co-product, which are the remnants of the corn after the ethanol-producing starch is removed, will be sold to livestock & poultry producers as a valuable protein feed supplement.

Lincolnway Energy was given approval on July 21, 2004 by the State of Iowa to offer memberships for sale in the limited liability company. This investment opportunity is open to all qualified Iowa investors. Lincolnway Energy is not going to be strictly farmer owned, or cooperative owned, but owned by all qualified Iowa investors that take advantage of this investment opportunity.

The kick-off meeting for our equity drive will be hosted at Gates Hall, 825 15th St, Nevada, Iowa on August 9, 2004 at 7:30 p.m. We will be honored with Patty Judge, Iowa Secretary of Agriculture, as our guest speaker. Other local and state dignitaries will also be on hand to show support of this project.

We have over 55 meetings scheduled across a sixteen county area in Iowa to help Iowans decide if this investment opportunity is right for them. The last meeting will be held at Gates Hall in Nevada, IA on September 13, 2004 at 7:30 p.m.

In the meantime, look for information in your mailbox, in the local newspapers, and on the radio because we will be giving information about the meetings specific to your area. If you’d like to hear a list of weekly meetings please call 515-382-6437, these meetings will be updated Friday of each week for the following week. You can also log on to our website for more information www.lincolnwayenergy.com