BPG Bpi Energy Holdings,

BPI Energy Holdings, Inc. (NYSE Alternext US: BPG), an independent energy company engaged in the exploration, production and commercial sale of coalbed methane (CBM) in the Illinois Basin, today announced that, on Nov. 17, 2008, it received notification from the NYSE Alternext US LLC (�Exchange�), formerly the American Stock Exchange (AMEX), that the company no longer complies with one or more of the Exchange�s continued listing standards and that its securities are, therefore, subject to being delisted from the Exchange. The Exchange halted trading in BPI�s common stock on Nov. 6, 2008. The notice specifically indicates that BPI is in violation of the NYSE Alternext US Company Guide (the �Company Guide�) Section 1003(a)(iv) in that it has sustained losses which are so substantial in relation to its overall operations or its existing financial resources, or its financial condition has become so impaired that it appears questionable, in the opinion of the Exchange, as to whether the Company will be able to continue operations and/or meet its obligations as they mature. Moreover, based on the press release issued on Oct. 30, 2008, stating that it is currently insolvent and given the current market value of the Company�s common stock, pursuant to Section 1003(c)(3) of the Company Guide the Exchange will normally consider suspending dealings in, or removing from the list securities, of an issuer whenever advice has been received, deemed by the Exchange to be authoritative, that the security is without value. The notice also cited the company�s SEC disclosure that it was unable to file its Annual Report on Form 10-K for the year ended July 31, 2008, when due, and the extension period afforded by filing Form 12b-25 ended on Nov. 13, 2008. The timely filing of such reports is a condition for the Company�s continued listing on the Exchange, as required by Sections 134 and 1101 of the Company Guide. BPI is currently evaluating its option to appeal this determination and request a hearing before a committee of the Exchange to present a plan to regain compliance with NYSE Alternext US listing standards; however, there can be no assurance that the company�s request for continued listing will be granted. The company today filed a report on Form 8-K, which is available from the Securities and Exchange Commission at http://www.sec.gov or on the Investor Relations page of BPI�s website at http://www.bpi-energy.com. About BPI Energy BPI Energy (BPI) is an independent energy company engaged in the exploration, production and commercial sale of coalbed methane (CBM) in the Illinois Basin, which covers approximately 60,000 square miles in Illinois, southwestern Indiana and northwestern Kentucky. The company controls a large CBM position in the Illinois Basin at approximately 534,280 acres. To be added to BPI Energy�s e-mail distribution list, please click on the link below: http://www.clearperspectivegroup.com/clearsite/bpi/emailoptin.html News releases and other information on the company are available on the Internet at: http://www.bpi-energy.com or http://www.bpi-industries.com/newlibrary.htm?b=1320&1=1 Some of the statements contained in this report that are not historical facts, including statements containing the words �believes,� �anticipates,� �expects,� �intends,� �plans,� �should,� �may,� �might,� �continue� and �estimate� and similar words, constitute forward-looking statements under the federal securities laws. These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, or the conditions in our industry, on our properties or in the Basin, to be materially different from any future results, performance, achievements or conditions expressed or implied by such forward-looking statements. Some of the factors that could cause actual results or conditions to differ materially from our expectations include, but are not limited to: (a) our inability to raise the funds necessary to satisfy our existing accounts payable and accrued liabilities; (b) a refusal by GasRock Capital LLC (�GasRock�) to make any additional advances under the GasRock Credit Agreement, which are at GasRock�s discretion; (c) our inability to repay or refinance the amounts advanced to us by GasRock when such amounts become due on Jan. 30, 2009; (d) a breach by us of a covenant under the GasRock Credit Agreement or other event of default that allows GasRock to accelerate our outstanding obligations; (e) our inability to obtain sufficient financing that would enable us to fund our future operations; (f) our failure to accurately forecast CBM production; (g) a decline in the prices that we receive for our CBM production; (h) our failure to accurately forecast operating and capital expenditures and capital needs due to rising costs or different drilling or production conditions in the field; (i) our inability to attract or retain qualified personnel with the requisite CBM or other experience; (j) unexpected economic and market conditions, in the general economy or the market for natural gas; (k) limitations imposed on us by the GasRock Credit Agreement; and (l) potential exposure to losses caused by our derivative contract. We caution readers not to place undue reliance on these forward-looking statements.