Renewable Fuel Corp Receives $22 Million Equity

• Press Release
• Source: Renewable Fuel Corp
• On 12:33 pm EST, Wednesday December 3, 2008

LAS VEGAS, NV--(MARKET WIRE)--Dec 3, 2008 -- Renewable Fuel Corp, Inc (RFC) a worldwide producer for biodiesel and biodiesel blended fuels for North America and International markets and Oilcorp Berhad are announcing today that they have entered an agreement valued at $22,111,664. Oilcorp Berhad (Oilcorp) is a diversified international corporation and is active in oil and gas, special projects, hotel, resort operation and property investment, and deep-sea fishing.

The strategic agreement between RFC and Oilcorp is an opportunity to leverage the unique expertise of both companies in green energy. As the world searches for new and better ways to fuel its economies RFC is critically positioned to deliver renewable sustainable biodiesel. The RFC B100 biodiesel product uses only renewable and sustainable agricultural feedstocks produced in the world's newest and most technically advanced facility in Kuantan, Malaysia.

"The agreement with RFC will enable Oilcorp to have a critical stake in the booming biodiesel and blended fuel industry in the US and key international markets," said Sunny Ng Huat Tian, Group Managing Director of Oilcorp Berhad. "RFC is an emerging leader in a very important industry, with its vertical upstream and downstream approach to the biodiesel industry they are able to better leverage the markets, control critical margins and take advantage of the worldwide requirement for green fuels, Oilcorp will profit along with RFC."

"We have a shared vision for supplying the world with clean fuels that is far better for the environment." said William Van Vliet, Chairman of Renewable Fuel Corp. "This major agreement and endorsement from the Oilcorp Board is a critical step in RFC's growing worldwide presence. It is my goal for the company to be the leader in the worldwide movement to biodiesel. The Oilcorp endorsement puts us a step closer to fulfilling this strategy."

"With Oilcorp we will have business relationship that will serve RFC for years to come," said Richard Henderson, President of Renewable Fuel Corp. "As we continue to grow our infrastructure and distribution facilities, Oilcorp will be a pivotal partner in that effort."

About Renewable Fuel Corporation

Renewable Fuel Corp is a premier provider of biodiesel and fuel solutions worldwide. The company operates a biodiesel facility in Kuantan, Malaysia that produces biodiesel for sale in the United States and Europe. Renewable Fuel Corporation produces all of its biodiesel to ASTM and EN diesel standards. Additionally Renewable Fuel Corporation distributes diesel fuel and provides custom biodiesel blends to customer requirements for renewable fuel mandates in the United States and worldwide.

About Oilcorp Berhad

Oilcorp Group is a well-diversified group of companies with core business activities in oil & gas, special projects, hotel, resort operation, property investment, and deep-sea fishing. While the oil & gas special projects are specific in nature, both the hotel and property investment and deep-sea fishing activities provide the Group with recurring income. The company trades on the Bursa Malaysia exchange. It is a major provider of infrastructure and components to the oil and gas industry world wide and is a second level company in offshore platform fabrication. The company operates as a holding company for four subsidiaries.

Final shareholder voting occurs at the December extraordinary general meeting.

     For Information Contact:
     Renewable Fuel Corporation
     +1.702-989-8978 ext. 1040
     Email Contact
      
     For Information Contact:
     Oilcorp Berhad.
     http://www.oilcorp.com.my