Corn procurement policy of Glacial Lakes Corn Processors is designed to give management the ability to maximize profits and dividends, and to also give price incentives to member shareholders to make their own corn marketing.
           
Under the delivery agreement, members must deliver corn annually to GLCP/GLE plants in portion to common stock owned. Annual delivery will be tied to a processing year that starts September 1 and ends on August 31 of the following year. The actual bushels per share for a processing year will be established by GLCP’s board of directors, based on the corn processing needs of the ethanol plants and the number of shares of common stock outstanding.
           
For fiscal year 2008, the committed bushel call will be 0.2 bushels per share if we complete the sale of at least the minimum amount in this offering. If we achieve annual ethanol production capacity of 315 million gallons by the end of calendar year 2008, we expect our committed bushel call may approach 0.5 - 0.6 bushels per share in fiscal year 2009.
           

The Board and Management reserves the right to modify the GLCP Corn Procurement Policy.