Syntroleum Corporation to Explore Strategic Alternatives

Syntroleum Corporation to Explore Strategic Alternatives

TULSA, Okla., July 17, 2013 (GLOBE NEWSWIRE) -- Syntroleum Corporation
(Nasdaq:SYNM) announced today that its Board of Directors is evaluating
strategic alternatives to enhance value for the shareholders of the Company
related to its renewable and natural gas-to-liquids businesses.

There can be no assurances as to whether any particular strategic alternative
for the Company will be recommended by the Board of Directors or undertaken
or, if so, upon what terms and conditions. The Company does not intend to
disclose developments with respect to the progress of its evaluation of any
strategic alternatives until such time as the Board of Directors has approved
a transaction or otherwise deems disclosure appropriate.

Piper Jaffray & Co. is serving as exclusive independent financial advisor to
assist the Board of Directors in the evaluation of possible strategic
alternatives.

About Syntroleum (Nasdaq:SYNM)

Syntroleum Corporation owns the Syntroleum® Process for Fischer-Tropsch (FT)
conversion of synthesis gas into liquid hydrocarbons, the Synfining® Process
for upgrading FT liquid hydrocarbons into refined petroleum products, the
Bio-Synfining® technology for converting renewable feedstocks into drop-in
fuels and a 50% interest in Dynamic Fuels LLC, which owns the 75mm gallon per
year Geismar, Louisiana renewable fuels plant using the Bio-Synfining®
technology. For additional information, visit the Company's web site at
www.syntroleum.com.

This document may contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, as well as historical facts.
These forward-looking statements include statements relating to the
Fischer-Tropsch ("FT") process, Syntroleum ® Process, Synfining ® Process, and
related technologies including, gas-to-liquids ("GTL"), coal-to-liquids
("CTL") and biomass-to-liquids ("BTL"), our renewable fuels Bio-Synfining ®
Technology (hereinafter "Technologies"), plants based on these Technologies,
anticipated cost and schedule to design, construct and operate plants,
expected production of fuel, obtaining required financing for these plants and
other activities, the value and markets for products, testing, certification,
characteristics and use of plant products, the continued development of our
Technologies, use of proceeds from our equity offerings, anticipated revenues,
availability of catalyst, our support of and relationship with our licensees,
and any other forward-looking statements including future growth, cash needs,
capital availability, operations, business plans and financial results. When
used in this document, the words "anticipate," "believe," "estimate,"
"expect," "intend," "may," "plan," "project," "should" and similar expressions
are intended to be among the statements that identify forward-looking
statements. Although we believe that the expectations reflected in these
forward-looking statements are reasonable, these kinds of statements involve
risks and uncertainties. Actual results may not be consistent with these
forward-looking statements. Syntroleum undertakes no obligation to update or
revise forward-looking statements to reflect changed assumptions, the
occurrence of unanticipated events or changes to future operating results over
time. Important factors that could cause actual results to differ from these
forward-looking statements are described under "Item 1A. Risk Factors" and
elsewhere in our 2012 Annual Report on Form 10K.

®"Syntroleum", "Synfining", and "Bio-Synfining" are registered as trademarks
and service marks in the U.S. Patent and Trademark Office.

CONTACT: Ron Stinebaugh
         Syntroleum Corporation
         (281) 224-9862
         www.syntroleum.com
        
         J. Thomas Halverson, Jr.
         Piper Jaffray & Co.
         (612) 303-6371
         www.piperjaffray.com
        
         Jamie Moser / Andrew Siegel
         Joele Frank, Wilkinson Brimmer Katcher
         (212) 355-4449
         www.joelefrank.com

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