Southern States Power Co. Initiates Property Lease For Phoenix Area Biodiesel Production...

Business Editors

RIVERSIDE, Calif.--(BUSINESS WIRE)--Sept. 16, 2002

Southern States Power Co. Inc. (OTCBB:SSPC), a member of the National Biodiesel Board, today announced that it has entered into an agreement to lease property for the purpose of developing a regional biodiesel

The production facility is slated to be the main distribution point for SSPC's EPA-registered OxEG Biodiesel to the Arizona, Nevada and Colorado markets.

SSPC will lease the property on an existing trans-loading facility equipped with rail sidings, some existing storage capacity and truck loading for handling chemical products. The facility is owned by Bulk Transportation and is located in Buckeye, on the outskirts of Phoenix. Dispatchers from Bulk Transportation's Buckeye location ship products by rail and truck to and from their customers in Arizona, New Mexico, Nevada and Colorado.

Harrison A. McCoy, III president and chief executive officer of SSPC, commented: "The company has maintained a strong presence in Arizona, supplying customers such as the Deer Valley Unified School District, one of the largest school districts in the state. Arizona is a market in which there is significant legislative and public support for biodiesel, and management anticipates further growth into Nevada and Colorado, two additional markets well within reach of the Buckeye facility.

"Putting our own production into this potentially lucrative market should allow for significant revenue generation from the Buckeye facility, and compliment the other facilities SSPC is developing as a business development company."

About Southern States Power Co. Inc.

Southern States Power Co. is a business development company whose core focus is to invest in alternative energy projects, particularly the production of biodiesel fuel. Biodiesel, including the company's own EPA-registered OxEG Biodiesel, is a clean, renewable fuel that can be used in diesel engines with virtually no modifications to the engines, vehicles or ground fueling equipment.

All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of Southern States Power Co., are forward-looking statements. Such statements are necessarily subject to risks and uncertainties, some of which are significant in scope and nature beyond the Southern States Power Co.'s control. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Actual results may differ materially depending on many factors, including those described above. Southern States Power Co. cautions that historical results are not necessarily indicative of the future performance.