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(BSNS WIRE) Southern States Power Company Inc. Announces $5 Million U.S. Fi
Southern States Power Company Inc. Announces $5 Million U.S. Financing
Agreement


Business Editors

ONTARIO, Calif.--(BUSINESS WIRE)--March 6, 2002--Southern States
Power Co. Inc. (OTCBB:SSPC), a provider of alternative fuels and a
member of the National Biodiesel Board, today announced that the
company has entered into an Equity Line of Credit with Cornell Capital
Partners, L.P.
The proceeds generated will be used to increase production and
distribution capability, enlarge Southern States' client base, and
expand brand recognition for the company's OxEG Biodiesel. Pursuant to
the Equity Line of Credit, the company may, at its discretion,
periodically sell to the Cornell Capital Partners shares of common
stock for a total purchase price of $5 million (U.S.).
Harrison A. McCoy III, Chairman and CEO of Southern States Power
Co., commented: "This equity line of credit provides the company with
the foundation and financial backing in order to achieve our stated
goal of becoming a leading producer and distributor of premium
biodiesel fuel. The company has already put into motion several steps
of this strategy thanks, in part, to the knowledge that we have the
capital backing integral to our success."
Southern States recently announced approval of its application for
up to $7.5 million in subsidies for the production of biodiesel from
soy oil. The company has announced plans for additional production
facilities in California, Arizona and Nevada, in addition to the
development of a more effective distribution system for its OxEG
Biodiesel.

About Southern States Power Co.

Southern States Power Co. is a fully reporting publicly traded
company, whose core business is to develop, produce and distribute
alternative fuels, particularly its OxEG Biodiesel.
Southern States Power Co. has two synergistic divisions: one for
the production and sale of biodiesel and the other devoted to the
generation of power using alternative fuels. Tightening clean air
standards and growing fossil fuel costs are forcing municipal and
private commercial fleets to look toward alternative fuel products.
Major biodiesel initiatives have been passed at the federal and state
levels across the United States.
More information can be found at the company's Web site:
www.sspowerco.net or call 909/476-3575, or e-mail Investor Relations
at: [e-mail].

Safe Harbor Statement

The foregoing news release may include numerous forward-looking
statements concerning the company's business and future prospects and
other similar statements that do not concern matters of historical
fact. The Federal securities laws provide a limited safe harbor for
certain forward-looking statements. Forward-looking statements in this
news release relating to product development, business prospects, and
development of a commercial market for technological advances are
based on the company's current expectations. The company's current
expectations are subject to all of the uncertainties and risks
customarily associated with new business ventures including, but not
limited to, market conditions, successful product development and
acceptance, competition and overall economic conditions, as well as
the risk of adverse regulatory actions. The company's actual results
may differ materially from current expectations. Readers are cautioned
not to put undue reliance on forward-looking statements. The company
disclaims any intent or obligation to update publicly these
forward-looking statements, whether as a result of new information,
future events or for any other reason.

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CONTACT: Southern States Power Co.
Investor Relations, 909/476-3575
Fax: [phone]
E-mail: [e-mail]

KEYWORD: CALIFORNIA
INDUSTRY KEYWORD: ENERGY ENVIRONMENT OIL/GAS
SOURCE: Southern States Power Co.

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