PURE BIOFUELS INAUGURATES ITS 52.5 MMGY PORT CALLAO BIODIESEL PRODUCTION FACILITY

LOS ANGELES and LIMA, PERU (August 18, 2008) – Pure Biofuels Corp. (OTCBB: PBOF) today announced that it has opened its main biodiesel production facility at Port Callao near Lima, Peru, kicking off the event with an inaugural celebration on Friday, August 15, which was attended by the United States Ambassador to Peru Peter Michael McKinley. The facility, which has a nameplate capacity of 52.5 million gallons per year, is expected to ramp up production as the year progresses.

President of Pure Biofuels Alberto Pinto said, “We are very proud to celebrate the opening of our main biodiesel production plant and very grateful for the support we received from the Peruvian government and our investors, who recognized that Peru's economic growth and expansion make it an attractive geography for alternative fuel production and development. We look forward to meeting the growing demand for alternative fuels and contributing to economic growth of Peru.”

Chris Tewell, Chairman of the Board, stated, “Our goal is to provide our customers with a renewable and biodegradable fuel option. We are pleased to have completed our flagship facility in time for the Peruvian mandate for 2% biodiesel that will take effect on January 1, 2009. This amount will be raised to 5% by 2011. As a next step, we look forward to carrying out our unique feedstock strategy in which we are cultivating Jatropha with the goal of meeting 80% of our feedstock needs with company-owned and harvested Jatropha by the year 2015. Our main goal is to work with raw materials not used for human consumption, therefore not requiring us to compete with water for farming or fields traditionally used for growing food.”

Besides the biodiesel production facility, the infrastructure includes a mooring facility capable of receiving Panamax vessels of up to 60,000 MT of bulk liquid cargo, and the two longest underwater pipes in Peru, running 4.1 kilometers both with a 14” diameter. The pipelines run to Pure’s tank farm, for reception and delivery of raw materials, and allow access to other fuels for blending, and for terminaling services. The site also sits near the La Pampilla Refinery, Peru’s largest refinery.

About Pure Biofuels Corporation Pure Biofuels is committed to becoming a leader in Latin America's rapidly emerging biofuels industry. In December 2006, Pure Biofuels acquired the land necessary to build the Callao Port biodiesel refinery, which encompasses approximately 4.7 hectares (almost 12 acres) of land close to the Port of Callao, the largest port on the Pacific Coast of South America. In December 2007, the Company acquired the 7.5 MMgy InterPacific refinery and recently completed its upgrade to 10 MMgy. The InterPacific Plant is located in Chorrillos and is expected to commence production and ramp up to full 10 MMgy capacity within the next several weeks. The combined output of Pure Biofuels’ new 52.5 MMgy biodiesel facility in the Port of Callao and the InterPacific Oil biodiesel facility total 62.5 MMgy, making Pure Biofuels one of Latin America’s largest producers of biodiesel. For more information about Pure Biofuels, please visit: www.purebiofuels.com.

Notice Regarding Forward-Looking Statements This news release contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Since the forward-looking statements relate to future developments, results or events, these statements are highly speculative and involve risks, uncertainties and assumptions that are difficult to assess. You should not construe any of these statements as a definitive or invariable expression of what will actually occur or result. Such forward-looking statements include, among others, the expectation and/or claim, as applicable, regarding the construction of the Callao Port refinery. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, (i) Pure Biofuels’ ability to raise the necessary capital to complete construction of the biodiesel refinery on time and within budget; (ii) Pure Biofuels’ ability to obtain any necessary government, regulatory or other permits or approvals; (iii) Pure Biofuels’ ability to keep pace with technological advances and correctly identify and invest in the technologies that become commercially accepted; (iv) Pure Biofuels’ ability to operate the biodiesel refinery, if and when construction is completed, efficiently, without work stoppages, labor disputes, equipment/mechanical break-downs, political, economic and social unrest and in compliance with new governmental regulations; (v) Pure Biofuels’ ability to comply with environmental, health and safety laws; and (vi) Pure Biofuels’ ability to negotiate binding agreements for the sale of biodiesel, if and when production commences. These forward-looking statements are made as of the date of this news release and the company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forwardlooking statements. Although the company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the company's periodic reports filed from time to time with the Securities and Exchange Commission and available at www.sec.gov.