This Bulletin Board allows you to post your interest in buying or selling the Units of Membership Interest (“Units”) in Siouxland Ethanol, L.L.C. (the “Company”) and to potentially identify persons who may have an interest in selling Units that you want to buy, or in buying Units you may be willing to sell.  The steps required for interested parties to buy or sell Units are:

• The company will determine whether the requested transfer of Units satisfies all requirements of the Company’s Operating Agreement.  In most cases, the transfer will require the approval of the Company’s Board of Directors.  A transfer will be denied if it does not conform to the Operating Agreement in all respects.
• If the transfer is approved; the Company will issue a certificate to the buyer for the transferred Units and will issue a certificate to the Seller representing any unsold Units.  The Company will also make appropriate changes to its Unit holder registry. 

If you wish to post your interest in buying or selling Membership Units of Siouxland Ethanol, L.L.C. (the “Company”) on the Bulletin Board, please contact  Corporate  at (866) 687-8020 or by email siouxlandethanol@siouxlandethanol.com .  If you are interested in responding to a posting on the Bulletin Board, please contact the poster directly using the contact information provided.  The Company will not arrange or facilitate communications between posters on the Bulletin Board and persons interested in buying or selling Units.

• The Company is not a registered national securities exchange, securities information processor, broker, dealer or investment advisor.  The Company provides this Bulletin Board merely as a convenient method for potential sellers and buyers of its Units to contact one another.  The Company makes no representations or warranties with respect to any information posted on the Bulletin Board, including any statements as to the price at which Units may be bought or sold between parties using the Bulletin Board.
• The information set forth on the Bulletin Board does not consist of firm offers to buy or sell Units, but rather is merely a list of the names and contact information of persons interest in selling or buying Units, the number of Units offered or desired to be purchased and, in some cases, a price at which they would propose a transaction to occur.  No one makes a market in the Units and there is no assurance that you will be able to buy or sell Units or that a sale or purchase will occur as to any particular price.  All transactions in Units will be negotiates between the parties and will be executed only on terms to which they agree.   
• All applicable state and federal securities laws (including the anti-fraud and anti-manipulation provisions) apply to any offer or sale of Units between parties using the Bulletin Board.     
•  All postings on the Bulletin Board must have a date reflecting when they were posted (a “Posting Date”).                        
•  Sellers cannot enter into binding agreements to sell the Units until the 15^th day after the Posting Date for his or her Units and closing of such sale may not occur prior to the 45^th day after the Posting Date.            
• A potential seller’s information will be removed 120 days after its Posting Date and cannot be reposted on the Bulletin Board for at least 60 days after its removal.    Any person who posts information on the Bulletin Board that is a broker-dealer, an associated person of a broker-dealer, or who has a state securities license is responsible for identifying that fact.                  
• Transfer will occur following the first of the month after Board approval and financial obligations are completed.     
•  
• "Two-sided quotes” in which a person indicates a bid to buy Units at one price and an offer to sell Units at another price where prohibited.              
•  By posting information of the Bulletin Board, you agree to indemnify, defend and hold harmless Siouxland Ethanol, L.L.C., and its directors, employees, agents and members from any and all claims of any kind arising in any manner out of your use of the Bulletin Board or any transaction that results there from. 
•  Units are illiquid and inherently risky.  Before buying and selling Units, you should obtain and read the most recent reports filed by the Company. 
•  The Company will not approve any transfer of Units which does not comply with the terms of the Operating Agreement as determined by the Company in its sole discretion.  Any purported transfer of Units not in compliance with the Operating Agreement will not be recognized for any purpose.     
• THE COMPANY RESERVES THE RIGHT TO REMOVE ANY POSTINGS FROM THE BULLETIN BOARD AT ANY TIME IN ITS SOLE DISCRETION.  HOWEVER, THE FAILURE TO REMOVE A POSTING SHALL NOT BE DEEMED TO BE A REPRESENTATION BY THE COMPANY THAT THE POSTING COMPLIES WITH THE FOREGOING REQUIREMENTS.                             

I have read the foregoing and understand it fully. I agree to be bound by the terms outlined above.

I agree