Press Release for September 9, 2004

Lincolnway Energy LLC announces stages are set for completion of equity drive campaign with final equity drive meetings set - Nevada, Iowa

Equity Drive yields 70% of equity need in less than five weeks.

Matt Crouse, Project Coordinator for Lincolnway Energy LLC, announced Thursday that the company’s equity drive that kicked off on August 9 has reached 70% of the total equity needed for the $ 83 M dollar, 50 MGY coal fired ethanol plant to be located near Nevada, Iowa - in five weeks.

The company’s leadership anticipated that there would be a good deal of interest from Iowans to buy membership interest in the development of the facility, but results have exceeded expectations. As a result, project development schedules have been moved up including permitting, design, and working with the City of Nevada, the Union Pacific Railroad and Alliant Energy for the most efficient plant layout to tie into their infrastructure.

“Bill Couser, President of Lincolnway Energy commented, “Membership investment has not slowed since we first started the drive for equity and although we will finish our Investor Meeting schedule in Nevada on Monday night and our special offer discount will end in a couple weeks, I would not be surprised if we reached our equity goal and closed our equity offering before the discount period deadline, and possibly as early as next week. The end is in sight.”

Lincolnway Energy has several more days of Investor Informational Meetings remaining. Investment in the company is open to qualified Iowa individuals and companies. Final meetings will be:

Thursday, Sept. 9:
9:00 am - Woodward at the Wells Fargo Bank
1:30 pm – Slater at The Log Cabin
7:30 pm – Urbandale at the Clarion Hotel & Conference Center

Friday, Sept. 10:
9:00 am – Maxwell at the Maxwell Area Community Center

Monday, Sept. 13:
7:30 pm – Nevada at Gates Hall.