Aventine Makes Second Quarterly Distribution of Common Stock

Aventine Renewable Energy Holdings, Inc. (AVRW) has commenced a pro rata quarterly distribution of shares of the company's common stock to holders of the company's former 10% senior unsecured notes due 2017, or the old notes, and to holders of allowed general unsecured claims against the bankruptcy estate of the company. In connection with the quarterly distribution of shares, 32,935 shares of common stock are being distributed to holders of old notes and 10,896 shares are being distributed to holders of allowed general unsecured claims. The shares are being distributed pursuant to the terms of the Debtors' First Amended Joint Plan of Reorganization Under Chapter 11 of the Bankruptcy Code Dated as of January 13, 2010, confirmed by the U.S. Bankruptcy Court for the District of Delaware on February 24, 2010, under which the company emerged from Chapter 11 bankruptcy protection on March 15, 2010. Including this quarterly distribution the company will have issued approximately 7.4 million shares of common stock, with approximately 1.2 million shares left for further distributions. As of September 30, 2010, approximately 20 claims of recovery from the company's bankruptcy case remain disputed, although the claims continue to be reduced by virtue of the ongoing claims reconciliation process.