Green Plains Announces Agreement to Sell Agribusiness Assets

Green Plains Announces Agreement to Sell Agribusiness Assets

OMAHA, Neb., Oct. 29, 2012 (GLOBE NEWSWIRE) -- Green Plains Renewable Energy,
Inc. (Nasdaq:GPRE) announced today that it has entered into an asset purchase
agreement to sell 12 grain elevators located in northwestern Iowa and western
Tennessee to The Andersons, Inc. (Nasdaq:ANDE). The sale involves
approximately 32.6 million bushels, or 83%, of the Company's reported
agribusiness grain storage capacity and all of its agronomy and retail
petroleum operations.

The estimated sales price for the facilities and certain related working
capital is $133.1 million, including the assumption at closing of term debt of
approximately $28.3 million. In addition, the Company expects to realize net
proceeds from the liquidation of retained working capital of approximately
$86.7 million before the repayment of approximately $85.2 million under a
revolving credit facility and inventory financing arrangements. Working
capital and amounts outstanding under debt and inventory financing
arrangements are based on September 30, 2012 balances and will be adjusted to
final amounts at closing. Net cash proceeds, including working capital
liquidation, are expected to be approximately $103.8 million.

"We continually evaluate options to maximize shareholder value and this
transaction is about opportunistically realizing that value," stated Todd
Becker, President and CEO of Green Plains. "While we have referred to this as
a strategic part of our business, we are by no means exiting U.S. agriculture.
We will continue to participate with our remaining grain handling assets and
through future grain storage expansions at or near our ethanol plants. Once
closed, this transaction will add more than $100 million in cash to our
balance sheet and reduce outstanding debt by more than $113 million. Our
continued focus is to ensure that Green Plains is positioned to take advantage
of growth opportunities throughout our platform."

The closing of the transaction, which is expected to occur during the fourth
quarter of 2012, is subject to customary closing conditions and regulatory
approvals. XMS Capital Partners served as financial advisor to Green Plains in
the transaction.

About Green Plains Renewable Energy, Inc.

Green Plains Renewable Energy, Inc. (Nasdaq:GPRE) is North America's fourth
largest ethanol producer. The Company markets and distributes approximately
one billion gallons of renewable motor fuel on an annual basis. Green Plains
owns and operates grain handling and storage assets and provides complementary
agronomy services to local grain producers through its agribusiness segment.
Green Plains owns BlendStar LLC, a biofuels terminal operator with locations
in the southern U.S. Green Plains is a joint venture partner in BioProcess
Algae LLC, which was formed to commercialize advanced photo-bioreactor
technologies for growing and harvesting algal biomass.

Safe Harbor

This news release contains forward-looking statements within the meaning of
the Private Securities Litigation Reform Act of 1995, as amended. Such
statements are identified by the use of words such as "anticipates,"
"believes," "estimates," "expects," "goal," "intends," "plans," "potential,"
"predicts," "should," "will," and other words and terms of similar meaning in
connection with any discussion of future operating or financial performance.
Such statements are based on management's current expectations and are subject
to various factors, risks and uncertainties that may cause actual results,
outcome of events, timing and performance to differ materially from those
expressed or implied by such forward-looking statements. Green Plains may
experience significant fluctuations in future operating results due to a
number of economic conditions, including, but not limited to, the completion
of the sale of 12 grain elevators and related agronomy and retail petroleum
operations, competition in the ethanol and other industries in which the
Company operates, commodity market risks including those that may result from
current weather conditions, financial market risks, counter-party risks, risks
associated with changes to federal policy or regulation, risks related to
closing and achieving anticipated results from acquisitions, risks associated
with the joint venture to commercialize algae production and the growth
potential of the algal biomass industry, and other risks detailed in the
Company's reports filed with the Securities and Exchange Commission, including
its Annual Report on Form 10-K for the year ended December 31, 2011, and in
the Company's subsequent filings with the SEC. In addition, the Company is not
obligated, and does not intend, to update any of its forward-looking
statements at any time unless an update is required by applicable securities

CONTACT: Jim Stark, Vice President - Investor and Media Relations
         Green Plains Renewable Energy, Inc.
         (402) 884-8700
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