SAFE Fuels Plans Name Change to Safe Renewables Corporation

August 2006

SAFE Fuels plans to change its name to Safe Renewables Corporation (SRC) to more accurately reflect its business focus on the rapidly expanding market for renewable fuels in the United States.  With petroleum production generally considered to be peaking globally, continuing increased demand for fuel is driving the development of renewable sources of energy as opposed to fossil fuels.  The name change will be formally approved by the company's shareholders in late October 2006.