OMAHA, NE – The Scoular Company announced today that it has entered into a Letter of Intent with Fagen, Inc. of Granite Falls, Minnesota in connection with Scoular’s development of a 100-million gallon ethanol production facility in Plainview, Texas.  Scoular expects to have the Fagen/ICM plant operational in 2007.

The plant will be connected to and will utilize Scoular’s existing grain facility served by the BNSF Railway.  That facility has storage capacity for 2.5 million bushels of grain and sufficient track to unload trains of 110 cars.  In addition to being the project developer and lead investor, Scoular will supply grain procurement and risk management services to the plant.

John Heck, Senior Vice President at Scoular, said that “the plant will continue Scoular’s expansion into the renewable fuels market segment and will bring the value of its extensive grain shuttle network to the plant’s operation.”  Mr. Heck said that Scoular expects the financing for the plant to be completed in time for site preparation to begin in the spring.