OriginOil, Inc. Report to Shareholders: As Oil Falls, Biofuels Take Off

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A potential bonanza for algae-based fuels and proteins as oil prices slide

Animal feed proteins such as fish and soy diverge from crude oil prices

Wild, isn't it! Cost of gas goes down, people use more gas... and now there's not enough biofuels to go around.

OriginOil Inc. (OTC/QB: OOIL), developer of Electro Water Separation (EWS), the high-speed, chemical-free process to clean up large quantities of water, announced today that in a letter to shareholders, CEO Riggs Eckelberry reported that biofuels prices are benefiting from increased gas consumption as oil prices fall. With corn-based fuels already being produced at their maximum, this opens up the market for advanced biofuels such as algae.

This is why OriginOil is planning national laboratory and university partnerships in a funded program issued by the Department of Energy that seeks to make algae a competitive fuel.

The CEO's full report is now available on OriginOil.com's website at http://www.originoil.com/ceos-update/as-oil-falls-biofuels-take-off

CEO Eckelberry also reported that the continuing rise of fish meal prices adds a protein business model for algae, which can be made for about a third the price of fish meal.

Safe Harbor Statement:
Matters discussed in this release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein, and while expected, there is no guarantee that we will attain the aforementioned anticipated developmental milestones. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors detailed in reports filed by the Company.

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