Clean Global Energy Limited (ASX:CGV) Receives Letter Of Intent To Fund US$30 Million Stage 1 Of A Commercial UCG Plant In Inner Mongolia And Coal Lease Acquisition

Sydney, July 2, 2010 AEST (ABN Newswire) - The Board of Clean Global Energy Limited (ASX:CGV) is pleased to update the market following our announcement to the market earlier this week on China.

Clean Global Energy Limited has received a Letter of Intent (LOI) to fund the US$30m Stage 1 of AuSino Energy's commercial UCG plant in China, Stage 1 being a 7PJ enriched air UCG Syngas Plant. AuSino Energy is the Hong Kong Incorporated entity which will be used to implement the joint venture in China.

In addition to providing the funding for Stage 1, after reviewing the information regarding the proposed purchase of the Inner Mongolia coal lease, the Letter of Intent also includes a proposal to fund the coal lease acquisition should negotiations with the mining lease owners be successful.

Significant progress is being made in China and new opportunities are opening up as we develop our Chinese business arm. This is a positive step forward for the company and our shareholders. We look forward to bringing our shareholders and the market further positive news on our activities in China in the coming weeks and months.

Contact

John Harkins Chairman/CEO Clean Global Energy Limited Tel: +61-2-9230-0318 www.cleanglobalenergy.com.au