Grant of Option

Clean Energy Brazil PLC

Grant of Option to Acquire Shares in Unialco M/S

25 November 2011

Clean Energy Brazil plc ("CEB") announces that it has granted a second option to Unialco S/A to purchase its entire interest in Unialco M/S and that CEB and Unialco S/A have agreed to a standstill until the expiration of the option period. The option gives Unialco S/A the right to acquire, on or before 12 December 2011, CEB's entire interest in Unialco MS for US$16 million payable in cash on completion. Unialco M/S is CEB's last remaining investment.

Further enquiries:

IOMA Fund & Investment Management Limited (Administrator)

Philip Scales Tel: +44 (0)1624 681250

Singer Capital Markets (Nominated Adviser)

Claes Spang ` Tel: +44 (0) 203 205 7500