TexCom, Inc. Obtains $10.6 Million Equity Commitment From U.S. Renewables Group for Houston Biodiesel Plant

    HOUSTON and LOS ANGELES, Aug. 9 /PRNewswire-FirstCall/ -- TexCom, Inc.
 (OTC Pink Sheets:   TEXC) today announced that it has executed a Membership
 Interest Purchase Agreement and associated documents with U.S. Renewables
 Group, LLC (USRG). Under the agreement, USRG will provide $10.6 million in
 equity funding to Houston Biodiesel LLC, a TexCom affiliate. TexCom will
 contribute an additional $3.5 million to complete the equity component of
 the funding. TexCom will also act as Asset Manager for the project to
 construct a 35 million gallon per year biodiesel production facility at the
 LBC Terminal in Seabrook, Texas. In addition, TexCom will receive a
 significant carried interest and ownership in the plant, and be responsible
 for operations.
     "USRG is an ideal equity partner for TexCom's first biodiesel
 production facility, adding additional financial strength to the venture,"
 said Lou Ross, President of TexCom. "The competitive advantages of the
 project are many, including rail, highway, barge and deep vessel access,
 coupled with being ideally located in the large Texas diesel fuel market."
     "USRG's investment in TexCom for Houston Biodiesel LLC is the first
 milestone in what we intend to be a long partnership," said USRG Managing
 Partner James McDermott. "The new realities of the 21st century energy
 industry demand alternatives to fossil fuels. At USRG we believe renewable
 energy and other 'carbon-lite' technologies are the future."
     Lurgi PSI (Memphis) will construct the Houston Biodiesel plant in
 accordance with a lump sum, turnkey Engineering, Procurement & Construction
 Agreement. LBC Houston, owner and operator of the terminal facility at
 Seabrook, will lease tankage and other terminal assets and provide certain
 terminal services to Houston Biodiesel under a long-term lease agreement.
     About TexCom, Inc.
     Headquartered in Houston, Texas, TexCom, Inc. is pursuing investment
 opportunities in certain energy related businesses and developing them to
 their logical and full commercial potential. For more information, please
 visit the company Web site at http://www.texcomresources.com .
     About U.S. Renewables Group
     U.S. Renewables Group, LLC ("USRG") is an investment company
 capitalizing on the fastest-growing segments of the $650B energy
 marketplace. USRG acquires, develops and operates renewable stationary
 power generation and clean fuel assets primarily in North America. USRG
 operates nationally from headquarters in Los Angeles and offices in New
 York. For more information, please visit the company Web site at
 http://www.usregroup.com .
     Forward-Looking Statements
     Statements contained herein and the information incorporated by
 reference herein may be forward-looking statements within the meaning of
 Section 21E of the Securities Exchange Act of 1934 (the "Exchange Act").
 Forward-looking statements can be identified by the use of forward-looking
 terminology such as, but not limited to, "may," "will," "expect,"
 "anticipate," "estimate," "would be," "believe," or "continue" or the
 negative or other variations of comparable terminology. We intend such
 forward-looking statements to be covered by the safe harbor provisions
 applicable to forward-looking statements contained in Section 21E of the
 Exchange Act. Such statements (none of which is intended as a guarantee of
 performance) are subject to certain assumptions, risks and uncertainties,
 which could cause our actual future results, achievements or transactions
 to differ materially from those projected or anticipated.
     Forward-looking statements include statements concerning plans,
 objectives, goals, strategies, future events, or performance and underlying
 assumptions and other statements, which are other than statements of
 historical facts. These statements are subject to uncertainties and risks
 including, but not limited to, product and service demands and acceptance,
 changes in technology, economic conditions, the impact of competition and
 pricing, and government regulation and approvals. TexCom cautions that
 assumptions, expectations, projections, intentions, or beliefs about future
 events may, and often do, vary from actual results and the differences can
 be material. Some of the key factors which could cause actual results to
 vary from those TexCom expects include changes in natural gas and oil
 prices, the timing of planned capital expenditures, availability of
 acquisitions, uncertainties in estimating proved reserves and forecasting
 production results, operational factors affecting the commencement or
 maintenance of producing wells, the condition of the capital markets
 generally, as well as our ability to access them, and uncertainties
 regarding environmental regulations or litigation and other legal or
 regulatory developments affecting our business.
     Our expectations, beliefs and projections are expressed in good faith
 and are believed to have a reasonable basis, including without limitation,
 our examination of historical operating trends, data contained in our
 records and other data available from third parties. There can be no
 assurance, however, that our expectations, beliefs or projections will
 result, be achieved, or be accomplished. Readers are cautioned not to place
 undue reliance on these forward-looking statements, which speak only as of
 the date hereof. We undertake no duty to update these forward-looking
 statements.
 
 

SOURCE TexCom, Inc.

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