Pacific Ethanol Announces Effectiveness of One-for-Seven Reverse Stock Split

Pacific Ethanol PEIX, announced today that it has filed an amendment to its Certificate of Incorporation to effect a one-for-seven reverse stock split of its issued and outstanding shares of common stock. The reverse stock split will be effective as to stockholders of record at 12:01 a.m. Eastern Time on Wednesday, June 8, 2011. Trading of the Company's common stock on a split-adjusted basis is expected to begin at the open of trading on June 8, 2011. As a result of the reverse stock split, every seven shares of pre-split common stock will automatically be reclassified as and converted into one share of post-split common stock. The reverse stock split, which was approved by the Company's stockholders on May 19, 2011, will reduce the number of shares of the Company's outstanding common stock from approximately 135.2 million shares to approximately 19.3 million shares. Any fractional shares resulting from the reverse stock split will be rounded up to the nearest whole share. The Company's common stock will continue to trade on The NASDAQ Capital Market under the symbol "PEIX," with the fifth character "D" added to the end of the trading symbol, beginning on Wednesday, June 8, 2011, for a period of 20 trading days to indicate that the reverse split has occurred. The Company's common stock will revert to trading under its original symbol "PEIX" after the 20 trading day period.