HUN.L Regulatory News (HUN)

30 March 2012

GEM BIOFUELS PLC

("GEM" or the "Company")

Directorate Change

GEM BioFuels Plc (AIM: GBF), the biofuel plantation business, announces the resignation of Paul Benetti as Chief Executive Officer with immediate effect. Mr Benetti is leaving to pursue other interests. However, he remains one of the Company's largest shareholders and has agreed to provide on-going assistance to the Company on an as needed basis.

Simon Hunt, non executive chairman, will become Executive Chairman. The Company is actively looking to strengthen the board in the near future. Malcolm Williams will remain non executive director. The Board of GEM would like to thank Mr Benetti for his contribution.

For clarification, despite shareholders having approved a change of name to TerraRossa Plantations plc on 24th June 2010, it was decided not to proceed with this change for the time being. Shareholders will be fully notified on any future changes at the appropriate time.

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