-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 S/MtQ83ypNIyaAjr1Egv4Fr+6F3ZxNaIJGG3N57F7KmZTf2PTtzP5LqndCRzkKBD
 D1bdRDZ2pgjZpGjAvSnjGQ==

<SEC-DOCUMENT>0001104659-09-019329.txt : 20090323
<SEC-HEADER>0001104659-09-019329.hdr.sgml : 20090323
<ACCEPTANCE-DATETIME>20090323154437
ACCESSION NUMBER:		0001104659-09-019329
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		4
CONFORMED PERIOD OF REPORT:	20090320
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20090323
DATE AS OF CHANGE:		20090323

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BioFuel Energy Corp.
		CENTRAL INDEX KEY:			0001373670
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL ORGANIC CHEMICALS [2860]
		IRS NUMBER:				205952523
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-33530
		FILM NUMBER:		09698783

	BUSINESS ADDRESS:	
		STREET 1:		1801 BROADWAY, SUITE 1060
		CITY:			DENVER
		STATE:			CO
		ZIP:			80202
		BUSINESS PHONE:		303-592-8110

	MAIL ADDRESS:	
		STREET 1:		1801 BROADWAY, SUITE 1060
		CITY:			DENVER
		STATE:			CO
		ZIP:			80202
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a09-8295_18k.htm
<DESCRIPTION>8-K
<TEXT>

<html>

<head>





</head>

<body lang="EN-US">

<div style="font-family:Times New Roman;">

<div style="border-bottom:solid windowtext 1.0pt;border-left:none;border-right:none;border-top:solid windowtext 3.0pt;padding:1.0pt 0in 1.0pt 0in;">

<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">UNITED STATES</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">SECURITIES AND EXCHANGE COMMISSION</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Washington,
DC&nbsp; 20549</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div align="center" style="margin:0in 0in .0001pt;text-align:center;"><hr size="1" width="25%" noshade color="black" align="center"></div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">FORM&nbsp;8-K</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">CURRENT REPORT</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">PURSUANT TO SECTION&nbsp;13 OR 15(d)&nbsp;OF
THE</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="3" face="Times New Roman" style="font-size:12.0pt;font-weight:bold;">SECURITIES EXCHANGE ACT OF 1934</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date of report (Date of earliest event
reported): <b>March&nbsp;20, 2009</b></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="5" face="Times New Roman" style="font-size:18.0pt;font-weight:bold;">BioFuel Energy Corp.</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Exact Name of Registrant as Specified in
Charter)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div align="center">

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Delaware</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">001-33530</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">20-5952523</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(State or Other
  Jurisdiction <br>
  of Incorporation)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Commission <br>
  File Number)</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="32%" valign="top" style="padding:0in 0in 0in 0in;width:32.0%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(IRS Employer <br>
  Identification No.)</font></p>
  </td>
 </tr>
</table>

</div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">1600
Broadway, Suite&nbsp;2200</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Denver,
CO&nbsp; 80202</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Address of Principal Executive Offices) (Zip
Code)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Registrant&#146;s telephone number, including area
code: <b>(303)&nbsp;592-8110</b></font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">N/A</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(Former Name or Former Address, if Changed
Since Last Report)</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Check the appropriate box below if the Form&nbsp;8-K
filing is intended to simultaneously satisfy the filing obligation of the
registrant under any of the following provisions (see General Instruction A.2.
below):</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font>&nbsp; Written communications pursuant to Rule&nbsp;425
under the Securities Act (17 CFR 230.425)</p>

<p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font>&nbsp; Soliciting material pursuant to Rule&nbsp;14a-12
under the Exchange Act (17 CFR 240.14a-12)</p>

<p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font>&nbsp; Pre-commencement communications
pursuant to Rule&nbsp;14d-2(b)&nbsp;under the Exchange Act (17 CFR
240.14d-2(b))</p>

<p style="margin:0in 0in .0001pt .25in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt .25in;"><font size="2" face="Wingdings" style="font-size:10.0pt;">o</font>&nbsp; Pre-commencement communications
pursuant to Rule&nbsp;13e-4(c)&nbsp;under the Exchange Act (17 CFR
240.13e-4(c))</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="border-bottom:solid windowtext 3.0pt;border-left:none;border-right:none;border-top:solid windowtext 1.0pt;padding:1.0pt 0in 1.0pt 0in;">

<p style="border:none;margin:0in 0in .0001pt;padding:0in;"><font size="1" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>

</div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\c900299\09-8295-1\task3437844\8295-1-ba.htm',USER='c900299',CD='Mar 21 00:37 2009' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 5.02. Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On March&nbsp;18,
2009, BioFuel Energy Corp. received notice from Thomas J. Edelman that he was
resigning as the Company&#146;s Chairman and Chairman of the Board of Directors effective
March&nbsp;20, 2009.&#160; Mr.&nbsp;Edelman
had served as the Company&#146;s Chairman and Chairman of the Board since its
formation and informed the Board that he was stepping down to meet the growing
requirements of another business commitment.&#160;
Mr.&nbsp;Edelman has agreed to continue to assist the Company&#146;s Board
and management on an unpaid basis for the foreseeable future.&#160; Simultaneously, the Company received notice on
March&nbsp;19, 2009 that Todd Q. Swanson, a Director who had served as Third
Point LLC&#146;s representative on the Board since March&nbsp;2008, had resigned effective
March&nbsp;20,&nbsp;2009.&#160; Mr.&nbsp;Swanson
recently left Third Point to join Barclays Capital.&#160; He informed the Board that he was stepping down
at the request of his new firm.&#160; As of
the date of the resignations, the number of Directors constituting the Board was
reduced to seven.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On March&nbsp;20,
2009, the Company announced that Mark W. Wong, a Director of the Company since January&nbsp;2008,
had been appointed Chairman of the Board to replace Mr.&nbsp;Edelman.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">A copy of the
Company&#146;s press release announcing the resignations of Mr.&nbsp;Edelman and Mr.&nbsp;Swanson
and the appointment of Mr.&nbsp;Wong is attached hereto as Exhibit&nbsp;99.1.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 5.03. Amendments to Articles of Incorporation or Bylaws; Change in
Fiscal Year.</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">On March&nbsp;20,
2009, the Board of Directors of the Company approved an amendment and
restatement of the Amended and Restated By-laws of BioFuel Energy Corp. (the &#147;<u>Amendment</u>&#148;),
which Amendment became effective immediately. &#160;The Amendment provides that the Chairman of
the Board of Directors may be, but is not required to be, an officer of the
Company.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The
description of the changes effected by the Amendment are qualified in their
entirety by reference to the copy of the Amended and Restated By-laws filed as Exhibit&nbsp;3.2
to this Current Report on Form&nbsp;8-K, which is incorporated herein by
reference.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Item 9.01.</font></b><b><font size="1" style="font-size:8.5pt;font-weight:bold;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Financial Statements and Exhibits.</b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(d)</font><font size="1" style="font-size:8.5pt;">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>Exhibits.</p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="93%" style="border-collapse:collapse;margin-left:.5in;width:93.34%;">
 <tr>
  <td width="9%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:9.52%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Exhibit&nbsp;No.</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="88%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:88.12%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Description</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="9%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:9.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.2</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:88.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amended and Restated By-laws of the Company</font></p>
  </td>
 </tr>
 <tr>
  <td width="9%" valign="top" style="padding:0in 0in 0in 0in;width:9.52%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.36%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="88%" valign="top" style="padding:0in 0in 0in 0in;width:88.12%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Press Release of the Company dated March&nbsp;20, 2009</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\c900299\09-8295-1\task3437844\8295-1-ba.htm',USER='c900299',CD='Mar 21 00:37 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">SIGNATURES</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="50%" colspan="4" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">BIOFUEL ENERGY CORP.</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="7%" colspan="3" valign="top" style="padding:0in 0in 0in 0in;width:7.26%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="42%" valign="top" style="padding:0in 0in 0in 0in;width:42.74%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Date: March&nbsp;20, 2009</font></p>
  </td>
  <td width="3%" valign="top" style="padding:0in 0in 0in 0in;width:3.62%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">By:</font></p>
  </td>
  <td width="46%" colspan="3" valign="top" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:46.38%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">/s/ Kelly Maguire</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:6.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Name:</font></p>
  </td>
  <td width="44%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:44.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Kelly Maguire</font></p>
  </td>
 </tr>
 <tr>
  <td width="50%" valign="top" style="padding:0in 0in 0in 0in;width:50.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="6%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:6.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Title:</font></p>
  </td>
  <td width="44%" colspan="2" valign="top" style="padding:0in 0in 0in 0in;width:44.0%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice President and Chief Financial Officer</font></p>
  </td>
 </tr>
 <tr height="0">
  <td width="374" style="border:none;"></td>
  <td width="27" style="border:none;"></td>
  <td width="18" style="border:none;"></td>
  <td width="9" style="border:none;"></td>
  <td width="320" style="border:none;"></td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\c900299\09-8295-1\task3437844\8295-1-ba.htm',USER='c900299',CD='Mar 21 00:37 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">EXHIBIT
INDEX</font></b></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="7%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:7.78%;">
  <p style="margin:0in 0in .0001pt;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Exhibit<br>
  Number</font></b></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:1.0pt;font-weight:bold;">&nbsp;</font></b></p>
  </td>
  <td width="89%" valign="bottom" style="border:none;border-bottom:solid windowtext 1.0pt;padding:0in 0in 0in 0in;width:89.66%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="1" face="Times New Roman" style="font-size:8.0pt;font-weight:bold;">Description</font></b></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:7.78%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
  <td width="89%" valign="top" style="border:none;padding:0in 0in 0in 0in;width:89.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.78%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3.2</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="89%" valign="top" style="padding:0in 0in 0in 0in;width:89.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Amended and Restated Bylaws of the Company</font></p>
  </td>
 </tr>
 <tr>
  <td width="7%" valign="top" style="padding:0in 0in 0in 0in;width:7.78%;">
  <p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">99.1</font></p>
  </td>
  <td width="2%" valign="bottom" style="padding:0in 0in 0in 0in;width:2.56%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="89%" valign="top" style="padding:0in 0in 0in 0in;width:89.66%;">
  <p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Press Release of the Company dated March&nbsp;20,
  2009</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='4',FILE='C:\JMS\c900299\09-8295-1\task3437844\8295-1-ba.htm',USER='c900299',CD='Mar 21 00:37 2009' -->


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-3.2
<SEQUENCE>2
<FILENAME>a09-8295_1ex3d2.htm
<DESCRIPTION>EX-3.2
<TEXT>

<html>

<head>





</head>

<body lang="EN-US">

<div>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;3.2</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">BYLAWS</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">OF</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">BIOFUEL ENERGY CORP.</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">AMENDED AND RESTATED AS OF MARCH&nbsp;20,
2009</font></b></p>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE I</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-decoration:underline;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Offices</font></u></h1>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;1.01.&#160; <u>Registered
Office.</u>&#160; The registered office of
BioFuel Energy Corp. (hereinafter the &#147;<u>Corporation</u>&#148;) in the State of
Delaware shall be in the City of Wilmington, County of New Castle, and the
resident agent in charge thereof shall be Corporation Service Company, or such
other office or agent as the Board of Directors of the Corporation (the &#147;<u>Board</u>&#148;)
shall from time to time select.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;1.02.&#160; <u>Other
Offices.</u>&#160; The Corporation may also
have an office or offices, and keep the books and records of the Corporation,
except as may otherwise be required by law, at such other place or places,
either within or without the State of Delaware, as the Board may from time to
time determine or the business of the Corporation may require.</font></h2>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE II</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-decoration:underline;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Meetings of Stockholders</font></u></h1>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;2.01.&#160; <u>Place of
Meetings.</u>&#160; The meetings of the
stockholders shall be held at such time and place, either within or without the
State of Delaware, as shall from time to time be fixed by the Board.&#160; Any previously scheduled meeting of the
stockholders may be postponed by action of the Board taken prior to the time
previously scheduled for such meeting of stockholders.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;2.02.&#160; <u>Annual
Meetings.</u>&#160; The annual meeting of the
stockholders for the election of directors, and for the transaction of such
other business as may properly come before the meeting, shall be held on such
date and at such hour as shall from time to time be fixed by the Board.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;2.03.&#160; <u>Special
Meetings.</u>&#160; Except as otherwise
required by law or by the Amended and Restated Certificate of Incorporation of
the Corporation (the &#147;<u>Certificate</u>&#148;) and subject to the rights of the
holders of any series of Preferred Stock, special meetings of the stockholders
for any purpose or purposes may be called only (i)&nbsp;by the Chairman of the
Board, by the Chief Executive Officer or by the President or (ii)&nbsp;pursuant
to a resolution adopted by the majority of the Board.</font></h2>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\c900235\09-8295-1\task3437897\8295-1-ki-01.htm',USER='c900235',CD='Mar 21 00:41 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;2.04.&#160; <u>Notice of
Meetings.</u>&#160; Except as otherwise
provided by law or by the Certificate, notice of each meeting of the
stockholders, whether annual or special, shall be given not less than 10 nor
more than 60&nbsp;days before the date of the meeting to each stockholder of
record entitled to notice of the meeting.&#160;
If mailed, such notice shall be deemed given when deposited in the
United States mail, postage prepaid, directed to the stockholder at such
stockholder&#146;s address as it appears on the records of the Corporation.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">To
the extent permitted by the General Corporation Law of the State of Delaware
(the &#147;<u>DGCL</u>&#148;) and without limiting the manner by which notice otherwise
may be given effectively to stockholders, any notice to stockholders given by
the Corporation under applicable law, the Certificate of Incorporation or these
Bylaws shall be effective if given by a form of electronic transmission to the
extent permitted under the rules&nbsp;and regulations of the U. S. Securities
and Exchange Commission (&#147;SEC&#148;) or any national securities exchange (as defined
by the rules&nbsp;and regulations of the SEC) on which the Corporation&#146;s stock
is then listed, or if otherwise consented to by the stockholder to whom the
notice is given. Any such consent shall be revocable by the stockholder by
written notice to the Corporation. Any such consent shall be deemed to be
revoked if (a)&nbsp;the Corporation is unable to deliver by electronic
transmission two consecutive notices by the Corporation in accordance with such
consent and (b)&nbsp;such inability becomes known to the Secretary or Assistant
Secretary of the Corporation or to the transfer agent, or other person
responsible for the giving of notice; provided, however, that the inadvertent
failure to treat such inability as a revocation shall not invalidate any
meeting or other action. Notice given by electronic transmission, as described
above, shall be deemed given: (i)&nbsp;if by facsimile telecommunication, when
directed to a number at which the stockholder has consented to receive notice; (ii)&nbsp;if
by electronic mail, when directed to an electronic mail address at which the
stockholder has consented to receive notice; (iii)&nbsp;if by a posting on an
electronic network, together with separate notice to the stockholder of such
specific posting, upon the later of (A)&nbsp;such posting and (B)&nbsp;the
giving of such separate notice; and (iv)&nbsp;if by any other form of
electronic transmission, when directed to the stockholder.</font></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&#147;Electronic
transmission&#148; shall mean any form of communication, not directly involving the physical
transmission of paper that creates a record that may be retained, retrieved and
reviewed by a recipient thereof, and that may be directly reproduced in paper
form by such a recipient through an automated process.</font></p>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each such notice shall state the place, date and hour of the meeting,
and, in the case of a special meeting, the purpose or purposes for which the
meeting is called.&#160; Notice of any meeting
of stockholders shall not be required to be given to any stockholder who shall
attend such meeting in person or by proxy without protesting, prior to or at
the commencement of the meeting, the lack of proper notice to such stockholder
or who shall waive notice thereof as provided in Article&nbsp;VI of these
Bylaws.&#160; Notice of adjournment of a
meeting of stockholders need not be given if the time and place to which it is
adjourned are announced at such meeting, unless the adjournment is for more
than 30&nbsp;days or, after adjournment, a new record date is fixed for the
adjourned meeting.</font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">2</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='2',FILE='C:\JMS\c900235\09-8295-1\task3437897\8295-1-ki-01.htm',USER='c900235',CD='Mar 21 00:41 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;2.05.&#160; <u>Quorum.</u>&#160; Except as otherwise provided by law or by the
Certificate, the holders of a majority of the votes entitled to be cast by the
stockholders entitled to vote generally, present in person or by proxy, shall constitute
a quorum at any meeting of the stockholders; <u>provided</u>, <u>however</u>,
that in the case of any vote to be taken by classes or series, the holders of a
majority of the votes entitled to be cast by the stockholders of a particular
class or series, present in person or by proxy, shall constitute a quorum of
such class or series.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;2.06.&#160; <u>Adjournments.</u>&#160; The chairman of the meeting may adjourn the
meeting from time to time whether or not a quorum is present.&#160; In the event that a quorum does not exist with
respect to any vote to be taken by a particular class or series, the chairman
of the meeting may adjourn the meeting with respect to the vote(s)&nbsp;to be
taken by such class or series.&#160; At any
such adjourned meeting at which a quorum may be present, any business may be
transacted which might have been transacted at the meeting as originally
called.&#160; If the adjournment is for more
than 30&nbsp;days, or if after adjournment a new record date is fixed for the
adjourned meeting, notice of the adjourned meeting shall be given to each
stockholder of record entitled to vote at the meeting.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;2.07.&#160; <u>Order of
Business.</u>&#160; At any annual meeting of
stockholders, only such business shall be conducted as shall have been brought
before the annual meeting (a)&nbsp;by or at the direction of the Board, (b)&nbsp;specified
in the notice of meeting (or any supplement thereto) given by or at the
direction of the Board (or any duly authorized committee thereof) or (c)&nbsp;by
any stockholder who is a holder of record at the time of the giving of the
notice provided for in this Section&nbsp;2.07, who is entitled to vote at the
meeting and who complies with the procedures set forth in this Section&nbsp;2.07.&#160; At any special meeting of stockholders, only
such business shall be conducted as shall have been brought before the special
meeting specified in the notice of meeting (or any supplement thereto) given by
or at the direction of the Board.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">At each meeting of the stockholders, the
Chairman of the Board or, in the absence of the Chairman of the Board, the President
or, in the absence of the Chairman of the Board and the President, such person
as shall be selected by the Board shall act as chairman of the meeting.&#160; The order of business at each such meeting
shall be as determined by the chairman of the meeting.&#160; The chairman of the meeting shall have the
right and authority to prescribe such rules, regulations and procedures and to
do all such acts and things as are necessary or desirable for the proper
conduct of the meeting, including the establishment of procedures for the
maintenance of order and safety, limitations on the time allotted to questions
or comments on the affairs of the Corporation, restrictions on entry to such
meeting after the time prescribed for the commencement thereof and the opening
and closing of the voting polls.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For business properly to be brought before an
annual meeting by a stockholder, the stockholder must have given timely notice
thereof in proper written form to the Secretary.&#160; To be timely, a stockholder&#146;s notice must be
delivered to, or mailed and received at, the principal executive offices of the
Corporation not less than 90&nbsp;days nor more than 120&nbsp;days prior to the
first anniversary of the date of the immediately preceding annual meeting; <u>provided</u>,
<u>however</u>, that in the event that the date of the annual meeting </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">3</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='3',FILE='C:\JMS\c900235\09-8295-1\task3437897\8295-1-ki-01.htm',USER='c900235',CD='Mar 21 00:41 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">is more than 30&nbsp;days
earlier or more than 60&nbsp;days later than such anniversary date, notice by
the stockholder to be timely must be so delivered or received not earlier than
the 120th&nbsp;day prior to such annual meeting and not later than the close of
business on the later of the 90th&nbsp;day prior to such annual meeting and the
10th&nbsp;day following the day on which public announcement of the date of
such meeting is first made.&#160; To be in
proper written form, a stockholder&#146;s notice to the Secretary shall set forth in
writing as to each matter the stockholder proposes to bring before the annual
meeting:&nbsp;&nbsp;(a)&nbsp;a brief description of the business desired to be
brought before the annual meeting and the reasons for conducting such business
at the annual meeting; (b)&nbsp;the name and address, as they appear on the
Corporation&#146;s books, of the stockholder proposing such business; (c)&nbsp;the
class and number of shares of the Corporation which are beneficially owned by
the stockholder; (d)&nbsp;any material interest of the stockholder in such
business; and (e)&nbsp;if the stockholder intends to solicit proxies in support
of such stockholder&#146;s proposal, a representation to that effect.&#160; The foregoing notice requirements shall be
deemed satisfied by a stockholder if the stockholder has notified the
Corporation of his or her intention to present a proposal at an annual meeting,
and such stockholder&#146;s proposal has been included in a proxy statement that has
been prepared by management of the Corporation to solicit proxies for such
annual meeting.&#160; If a stockholder who
otherwise has given proper notice of a proposal does not appear or send a
qualified representative to present such proposal at such annual meeting, or is
no longer a holder of record on the date of such meeting, the Corporation need
not present such proposal for a vote at such meeting, notwithstanding that
proxies in respect of such vote may have been received by the Corporation.&#160; Notwithstanding anything in these Bylaws to
the contrary, no business shall be conducted at any annual meeting except in
accordance with the procedures set forth in this Section&nbsp;2.07.&#160; The chairman of an annual meeting may refuse
to permit any business to be brought before an annual meeting which fails to
comply with the foregoing procedures or, in the case of a stockholder proposal,
if the stockholder solicits proxies in support of such stockholder&#146;s proposal
without having made the representation required by clause&nbsp;(e)&nbsp;of the
fourth preceding sentence.&#160; The term &#147;<u>public
announcement</u>&#148; shall mean disclosure (a)&nbsp;either (i)&nbsp;in a press
release reported by the Dow Jones News Service, Reuters Information Service or
any similar or successor news wire service or (ii)&nbsp;in a communication distributed
generally to stockholders and (b)&nbsp;in a document publicly filed by the
Corporation with the Securities and Exchange Commission (the &#147;<u>SEC</u>&#148;)
pursuant to Section&nbsp;13, 14 or 15(d)&nbsp;of the Securities Exchange Act of
1934, as amended, or any successor provisions thereto.</font></p>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;2.08.&#160; <u>List of
Stockholders.</u>&#160; It shall be the duty
of the Secretary or other officer who has charge of the stock ledger to prepare
and make, at least 10&nbsp;days before each meeting of the stockholders, a
complete list of the stockholders entitled to vote thereat, arranged in
alphabetical order, and showing the address of each stockholder and the number
of shares registered in such stockholder&#146;s name.&#160; Such list shall be produced and kept
available at the times and places required by law.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;2.09.&#160; <u>Voting.</u>&#160; Except as otherwise provided by law or by the
Certificate, (x)&nbsp;each stockholder of record of any series of Preferred
Stock shall be entitled at each meeting of stockholders to such number of
votes, if any, for each share of such stock, as may be fixed in the Certificate
or in the resolution or resolutions adopted </font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">4</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='4',FILE='C:\JMS\c900235\09-8295-1\task3437897\8295-1-ki-01.htm',USER='c900235',CD='Mar 21 00:41 2009' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<h2 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">by the Board providing for the issuance of such stock, (y)&nbsp;each
stockholder of record of Common Stock shall be entitled at each meeting of
stockholders to one vote for each share of such stock and shall vote at all
times, except as otherwise required by the Certificate or applicable law,
together with the stockholders of Class&nbsp;B Common Stock as one class, and (z)&nbsp;each
stockholder of record of Class&nbsp;B Common Stock shall be entitled at each
meeting of stockholders to one vote for each share of such stock and shall vote
at all times, except as otherwise required by the Certificate or applicable
law, together with the stockholders of Common Stock as one class, in each case,
registered in such stockholder&#146;s name on the books of the Corporation:</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h3 style="font-weight:normal;margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(a)&nbsp;</font><font size="2" style="font-size:10.0pt;">on the date fixed pursuant
to Section&nbsp;5.06 of these Bylaws as the record date for the determination
of stockholders entitled to notice of and to vote at such meeting; or</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(b)&nbsp;</font><font size="2" style="font-size:10.0pt;">if no such record date shall
have been so fixed, then at the close of business on the day next preceding the
day on which notice of such meeting is given, or, if notice is waived, at the
close of business on the day next preceding the day on which the meeting is
held.</font></h3>

<h3 style="font-weight:normal;margin:0in 0in .0001pt .5in;text-indent:.5in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h3>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each stockholder entitled to vote at any
meeting of stockholders may do so in person or by proxy appointed by such
stockholder or by such stockholder&#146;s attorney thereto authorized.&#160; Any such proxy may be in either written or
electronic form, and shall be delivered to the Secretary at or prior to the
time designated for holding such meeting, but in any event not later than the
time designated in the order of business for so delivering such proxies.&#160; No such proxy shall be voted or acted upon
after three years from its date, unless the proxy provides for a longer period.</font><font size="2" style="font-size:10.0pt;">&#160;&#160; </font><font size="2" style="font-size:10.0pt;">Any copy,
facsimile telecommunication or other reliable reproduction of the writing or
transmission created pursuant to this Section&nbsp;may be substituted or used
in lieu of the original writing or transmission for any and all purposes for
which the original writing or transmission could be used, provided that such
copy, facsimile telecommunication or other reproduction shall be a complete
reproduction of the entire original writing or transmission. An electronic
proxy (which may be transmitted via telephone, e-mail, the Internet or such
other electronic means as the Board may determine from time to time) shall be
deemed executed if the Corporation receives an appropriate electronic
transmission from the stockholder or the stockholder&#146;s attorney-in-fact along
with a pass code or other identifier which reasonably establishes the
stockholder or the stockholder&#146;s attorney-in-fact as the sender of such
transmission. The revocability of a proxy that states on its face that it is
irrevocable shall be governed by the provisions of Section&nbsp;212(c)&nbsp;of
the DGCL or any successor provision thereto.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">At each meeting of the stockholders, all
corporate actions to be taken by vote of the stockholders (except as otherwise
required by law and except as otherwise provided for or fixed by or pursuant to
the Certificate or these Bylaws) shall be authorized by a majority of the votes
cast by the stockholders entitled to vote thereon who are present in person or
represented by proxy, and where a separate vote by class or series is required,
a majority of the votes cast by the stockholders of such class or series who
are present in person or represented by proxy shall be the act of such class or
series.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">5</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='5',FILE='C:\JMS\c900235\09-8295-1\task3437897\8295-1-ki-01.htm',USER='c900235',CD='Mar 21 00:41 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Unless required by law or determined by the
chairman of the meeting to be advisable, the vote on any matter, including the
election of directors, need not be by written ballot.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;2.10.&#160; <u>Inspectors.</u>&#160; The Board shall, in advance of any meeting of
stockholders, appoint one or more inspectors to act at the meeting of
stockholders and make a written report thereof.&#160;
Such inspectors shall perform such duties as shall be required by law or
specified by the chairman of the meeting.&#160;
Inspectors need not be stockholders.&#160;
No director or nominee for the office of director shall be appointed such
inspector.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;2.11.&#160; <u>Written
Consent.</u>&#160; At any time when the
Certificate permits action by one or more series or classes of stockholders of
the Corporation to be taken by written consent, the provisions of this Section&nbsp;2.11
shall apply. All consents properly delivered in accordance with the
Certificate, this section and the DGCL shall be deemed to be recorded when so
delivered.&#160; No written consent shall be
effective to take the corporate action referred to therein unless, within
60&nbsp;days of the earliest dated consent delivered to the Corporation as
required by this Section&nbsp;2.11, written consents signed by the holders of a
sufficient number of shares to take such corporate action are so recorded.&#160; Prompt notice of the taking of the corporate
action, without a meeting by less than unanimous written consent, shall be
given to those stockholders who have not consented in writing and who, if the
action had been taken at a meeting, would have been entitled to notice of the
meeting if the record date of the meeting had been the date that written
consents signed by a sufficient number of holders to take the action were
delivered to the Corporation. Any action taken pursuant to such written consent
or consents of the stockholders shall have the same force and effect as if
taken by the stockholders at a meeting thereof.&#160;
In order that the Corporation may determine the stockholders entitled to
consent to corporate action in writing without a meeting, the Board may fix a
record date, which record date shall not precede the date upon which the
resolution fixing the record date is adopted by the Board and which date shall
not be more than 10&nbsp;days after the date upon which the resolution fixing
the record date is adopted by the Board.&#160;
If no record date has been fixed by the Board, the record date for determining
stockholders entitled to consent to corporate action in writing without a
meeting, when no prior action by the Board is required by law, shall be the
first date on which a signed written consent setting forth the action taken or
proposed to be taken is delivered to the Corporation by delivery to its
registered office in the State of Delaware, its principal place of business, or
an officer or agent of the Corporation having custody of the book in which
proceedings of meetings of stockholders are recorded.&#160; If no record date has been fixed by the Board
and prior action by the Board is required by law, the record date for
determining stockholders entitled to consent to corporate action in writing
without a meeting shall be at the close of business on the day on which the
Board adopts the resolution taking such prior action.</font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">6</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='6',FILE='C:\JMS\c900235\09-8295-1\task3437897\8295-1-ki-01.htm',USER='c900235',CD='Mar 21 00:41 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE III</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></h1>

<h1 style="font-weight:normal;margin:0in 0in .0001pt;page-break-after:avoid;text-align:center;text-decoration:underline;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Board of Directors</font></u></h1>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;3.01.&#160; <u>General
Powers.</u>&#160; The business and affairs of
the Corporation shall be managed by or under the direction of the Board, except
as otherwise provided by law or by the Certificate.&#160; If any such provision is made in the
Certificate, the powers and duties imposed upon the Board by law shall be
exercised or performed to such extent and by such person or persons as shall be
provided in the Certificate.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;3.02.&#160; <u>Number,
Qualification and Election.</u>&#160; Except
as otherwise provided for or fixed by or pursuant to the provisions of Article&nbsp;IV
of the Certificate relating to the rights of the holders of any series of
Preferred Stock, the number of directors shall be not less than the minimum
number permitted under the DGCL, the exact number of directors to be determined
from time to time by resolution adopted by the Board.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The directors, other than those who may be elected by the holders of
shares of any series of Preferred Stock, or pursuant to any resolution or
resolutions providing for the issuance of such stock adopted by the Board,
shall be elected by the stockholders entitled to vote thereon at each annual
meeting of the stockholders by a plurality of those stockholders voting
thereon.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;3.03.&#160;&#160;&#160; <u>Chairman
of the Board.</u>&#160; A Chairman of the
Board may be appointed by the Board.&#160; The
Chairman of the Board shall preside at meetings of the stockholders and of the
Board.&#160; The Chairman of the Board shall
have the power to perform all of the duties usually incumbent upon a
non-executive Chairman of the Board of a corporation and incident to the office
of the Chairman of the Board; <u>provided</u> that, in the event the President
or Chief Executive Officer of the Company shall serve as Chairman as provided
under Section&nbsp;4.04 of these By-laws, the foregoing shall not affect the
power of such person to perform his duties in such offices.&#160; The Chairman of the Board shall also have
such powers and perform such duties as are assigned by these Bylaws and shall
have such other powers and perform such other duties, not inconsistent with
these Bylaws, as may from time to time be assigned by the Board.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;3.04.&#160; <u>Notification
of Nominations.</u>&#160; Subject to the
rights of the holders of any series of Preferred Stock and any applicable
provisions of contractual arrangements with any stockholder, nominations for
the election of directors at any annual meeting may be made by the Board or by
any stockholder who is a stockholder of record at the time of the giving of
notice of nomination provided for in this Section&nbsp;3.03 and who is entitled
to vote for the election of directors.&#160;
Any stockholder of record entitled to vote for the election of directors
at any annual meeting may nominate persons for election as directors only if
timely notice of such stockholder&#146;s intent to make such nomination is given in
proper written form to the Secretary.&#160; To
be timely, a stockholder&#146;s notice must be delivered to, or mailed and received
at, the principal executive offices of the Corporation, not less than 90 nor
more than 120&nbsp;days prior to the first anniversary of the date of the
immediately preceding annual meeting; <u>provided</u>, </font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">7</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='7',FILE='C:\JMS\c900235\09-8295-1\task3437897\8295-1-ki-01.htm',USER='c900235',CD='Mar 21 00:41 2009' -->


<br clear="all" style="page-break-before:always;">


<div style="font-family:Times New Roman;">

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-size:10.0pt;font-weight:normal;margin:0in 0in .0001pt;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">however</font></u>,
that in the event that the date of the annual meeting is more than 30&nbsp;days
earlier or more than 60&nbsp;days later than such anniversary date, notice by
the stockholder to be timely must be so delivered or received not earlier than
the 120th&nbsp;day prior to such annual meeting and not later than the close of
business on the later of the 90th&nbsp;day prior to such annual meeting and the
10th&nbsp;day following the day on which public announcement of the date of
such meeting is first made.&#160; To be in
proper written form, each such notice shall set forth:&nbsp;&nbsp;(a)&nbsp;the
name and address of the stockholder who intends to make the nomination and of
the person or persons to be nominated; (b)&nbsp;a representation that the
stockholder is a holder of record of stock of the Corporation entitled to vote
at such meeting and intends to appear in person or by proxy at the meeting to
nominate the person or persons specified in the notice; (c)&nbsp;a description
of all arrangements or understandings between the stockholder and each nominee
and any other person or persons (naming such person or persons) pursuant to
which the nomination or nominations are to be made by the stockholder; (d)&nbsp;such
other information regarding each nominee proposed by such stockholder as would
have been required to be included in a proxy statement filed pursuant to the
proxy rules&nbsp;of the SEC had each nominee been nominated, or intended to be
nominated, by the Board; (e)&nbsp;the consent of each nominee to serve as a
director if so elected; and (f)&nbsp;if the stockholder intends to solicit
proxies in support of such stockholder&#146;s nominee(s), a representation to that
effect.&#160; The chairman of an annual
meeting may refuse to acknowledge the nomination of any person not made in
compliance with the foregoing procedure or if the stockholder solicits proxies
in favor of such stockholder&#146;s nominee(s)&nbsp;without having made the
representation required by clause&nbsp;(f)&nbsp;of the immediately preceding
sentence.&#160; Only such persons who are
nominated in accordance with the procedures set forth in this Section&nbsp;3.03
shall be eligible to serve as directors of the Corporation.</h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Notwithstanding anything in the immediately
preceding paragraph of this Section&nbsp;3.03 to the contrary, in the event
that the number of directors to be elected to the Board at an annual meeting of
stockholders is increased and there is no public announcement naming all of the
nominees for directors or specifying the size of the increased Board made by
the Corporation at least 90&nbsp;days prior to the first anniversary of the
date of the immediately preceding annual meeting, a stockholder&#146;s notice
required by this Section&nbsp;3.03 shall also be considered timely, but only
with respect to nominees for any new positions created by such increase, if it
shall be delivered to, or mailed and received by, the Secretary at the
principal executive offices of the Corporation not later than the close of
business on the 10th&nbsp;day following the day on which such public
announcement is first made by the Corporation.</font></p>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;3.05.&#160; <u>Quorum and
Manner of Acting.</u>&#160; Except as
otherwise provided by law, the Certificate or these Bylaws, a majority of the
directors then in office shall constitute a quorum for the transaction of
business at any meeting of the Board, and, except as so provided, the vote of a
majority of the directors present at any meeting at which a quorum is present
shall be the act of the Board.&#160; The
chairman of the meeting or a majority of the directors present may adjourn the
meeting to another time and place whether or not a quorum is present.&#160; At any adjourned meeting at which a quorum is
present, any business may be transacted which might have been transacted at the
meeting as originally called.</font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">8</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='8',FILE='C:\JMS\c900235\09-8295-1\task3437897\8295-1-ki-01.htm',USER='c900235',CD='Mar 21 00:41 2009' -->



<br clear="all" style="page-break-before:always;">
<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;3.06.&#160; <u>Place of Meeting.</u>&#160; Subject to Sections&nbsp;3.06 and 3.07, the
Board may hold its meetings at such place or places within or without the State
of Delaware as the Board may from time to time determine or as shall be
specified or fixed in the respective notices or waivers of notice thereof.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;3.07.&#160; <u>Meetings.</u>&#160; Regular meetings may be held at such place on
such date and at such time as may be fixed from time to time by the Board.&#160; Special meetings of the Board shall be held
whenever called by the Chairman of the Board or by a majority of the directors
then in office, and shall be held at such place, on such date and at such time
as he or they, as applicable, shall fix.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;3.08.&#160; <u>Notice of Meetings.</u>&#160; Notice of regular meetings of the Board or of
any adjourned meeting thereof need not be given.&#160; Notice of each special meeting of the Board
shall be given by overnight delivery service or mailed to each director, in
either case addressed to such director at such director&#146;s residence or usual place
of business, at least three days before the day on which the meeting is to be
held or shall be sent to such director at such place by telecopy or by
electronic transmission or be given personally or by telephone, not later than
two days before the meeting is to be held, but notice need not be given to any
director who shall, either before or after the meeting, submit a signed waiver
of such notice or who shall attend such meeting without protesting, prior to or
at its commencement, the lack of notice to such director.&#160; Every such notice shall state the time and
place but need not state the purpose of the meeting.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;3.09.&#160; <u>Rules&nbsp;and Regulations.</u>&#160; The Board may adopt such rules&nbsp;and
regulations not inconsistent with the provisions of law, the Certificate or
these Bylaws for the conduct of its meetings and management of the affairs of
the Corporation as the Board may deem proper.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;3.10.&#160; <u>Participation in Meeting by Means of
Communications Equipment.</u>&#160; Any one or
more members of the Board, or any committee thereof, may participate in any
meeting of the Board or of any such committee by means of conference telephone
or similar communications equipment by means of which all persons participating
in the meeting can hear each other, and such participation in a meeting shall
constitute presence in person at such meeting.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;3.11.&#160; <u>Action Without Meeting.</u>&#160; Any action required or permitted to be taken
at any meeting of the Board, or any committee thereof, may be taken without a
meeting if all of the members of the Board or of any such committee, as the
case may be, consent thereto in writing and, if required by law, the writing or
writings are filed with the minutes of proceedings of the Board or of such
committee.&#160; Such filing shall be in paper
form.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;3.12.&#160; <u>Resignations.</u>&#160; Any director may resign at any time by giving
written notice to the Board, the Chairman of the Board, the President or the
Secretary.&#160; Such resignation shall take
effect at the time specified therein or, if the time is not specified therein,
upon receipt thereof, and unless otherwise specified therein, the acceptance of
such resignation shall not be necessary to make it effective.</font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">9</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='9',FILE='C:\JMS\105588\09-8295-1\task3437838\8295-1-ki-03.htm',USER='105588',CD='Mar 21 00:29 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;3.13.&#160; <u>Vacancies.</u>&#160; Subject to the rights of the holders of any
series of Preferred Stock and any applicable provisions of contractual
arrangements with any stockholder, any vacancies on the Board resulting from
death, resignation, removal or other cause shall only be filled by the Board,
and not by the stockholders, by the affirmative vote of a majority of the
remaining directors then in office, even though less than a quorum of the
Board, or by a sole remaining director, and newly created directorships
resulting from any increase in the number of directors shall only be filled by
the Board.&#160; Any director elected in
accordance with the preceding sentence of this Section&nbsp;3.12 shall hold
office until the next annual meeting of stockholders and until such director&#146;s
successor shall have been elected and qualified.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;3.14.&#160; <u>Compensation.</u>&#160; Each director, in consideration of such
person serving as a director, shall be entitled to receive from the Corporation
such amount per annum and such fees (payable in cash, stock or other
equity-based awards) for attendance at meetings of the Board or of committees
of the Board, or both, as the Board shall from time to time determine.&#160; In addition, each director shall be entitled
to receive from the Corporation reimbursement for the reasonable expenses
incurred by such person in connection with the performance of such person&#146;s
duties as a director.&#160; Nothing contained
in this Section&nbsp;3.13 shall preclude any director from serving the
Corporation or any of its subsidiaries in any other capacity and receiving
proper compensation therefor.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;3.15.&#160; <u>Establishment of Committees of the Board
of Directors.</u>&#160; The Board may from
time to time by resolution create committees of directors, officers, employees
or other persons, with such functions, duties and powers as the Board shall by
resolution prescribe.&#160; A majority of all
the members of any such committee may determine its actions and rules&nbsp;or
procedures, and fix the time, place and manner of its meetings, unless the
Board shall otherwise provide.&#160; Subject to
any applicable provisions of contractual arrangements with any stockholder, the
Board shall have power to change the members of any such committee at any time,
to fill vacancies and to discharge any such committee, either with or without
cause, at any time.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE IV</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Officers</font></u></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;4.01.&#160; <u>Number; Term of Office; Salary.</u>&#160; The officers of the Corporation shall be
elected by the Board and shall consist of a President, one or more Vice
Presidents (any one or more of whom may be designated Executive Vice President
or Senior Vice President), a Secretary and a Treasurer.&#160; In addition, the Board may elect such other
officers or agents with such titles and such duties as the Board may from time
to time determine (or may delegate such power to such committee or officer as
the Board may from time to time determine), each to have such authority,
functions or duties as provided in these Bylaws or as the Board may from time
to time determine, and each to hold office for such term as may be prescribed
by the Board and until such person&#146;s successor shall have been chosen and
qualified, or until such person&#146;s death or resignation, or until such person&#146;s
removal in the manner hereinafter provided.&#160;
One </font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">10</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='10',FILE='C:\JMS\105588\09-8295-1\task3437838\8295-1-ki-03.htm',USER='105588',CD='Mar 21 00:29 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">person may hold the offices and perform the
duties of any two or more officers.&#160; The
Board may require any officer or agent to give security for the faithful
performance of such person&#146;s duties.&#160; The
salaries of the officers shall be fixed from time to time in the manner
prescribed by the Board.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;4.02.&#160; <u>Removal.</u>&#160; Any officer may be removed, either with or
without cause, by the Board at any meeting thereof called for such purpose or,
except in the case of any officer elected by the Board, by any superior officer
upon whom such power may be conferred by the Board.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;4.03.&#160; <u>Resignation.</u>&#160; Any officer may resign at any time by giving
notice to the Board, the Chairman of the Board, the President or the
Secretary.&#160; Any such resignation shall
take effect at the date of receipt of such notice or at any later date
specified therein, and unless otherwise specified therein, the acceptance of
such resignation shall not be necessary to make it effective.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;4.04.&#160; <u>President.</u>&#160; The President shall have general supervision
and direction of the business and affairs of the Corporation, subject to the
control of the Board, and shall report directly to the Board.&#160; The President shall perform all of the duties
usually incumbent upon a President of a corporation and incident to the office
of the President.&#160; The President shall
also have such powers and perform such duties as are assigned by these Bylaws
and shall have such other powers and perform such other duties, not
inconsistent with these Bylaws, as may from time to time be assigned by the
Board.&#160; The President shall, if present
and in the absence of the Chairman of the Board, preside at meetings of the
stockholders and, if the President is a member of the Board, of the Board.&#160; The President, if so elected by the Board, may
also act as the Chairman of the Board and/or the Chief Executive Officer.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;4.05.&#160; <u>Vice President.</u>&#160; Any Vice President shall have such powers and
duties as shall be prescribed by his superior officer or the Board.&#160; A Vice President shall, when requested,
counsel with and advise the other officers of the Corporation and shall perform
such other duties as he may agree with the President or as the Board may from
time to time determine.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;4.06.&#160; <u>Treasurer.</u>&#160; The Treasurer shall have charge and custody
of, and be responsible for, all funds of the Corporation.&#160; The Treasurer shall regularly enter or cause
to be entered in books to be kept by the Treasurer or under the Treasurer&#146;s
direction for this purpose full and adequate account of all moneys received or
paid by the Treasurer for the account of the Corporation; the Treasurer shall
exhibit such books of account and records to any of the directors of the
Corporation at any time upon request at the office of the Corporation where
such books and records shall be kept and shall render a detailed statement of
these accounts and records to the Board as often as it shall require the
same.&#160; The Treasurer shall also have such
powers and perform such duties as are assigned the Treasurer by these Bylaws
and shall have such other powers and perform such other duties, not
inconsistent with these Bylaws, as from time to time may be assigned by the
Board.&#160; The Board shall have the right to
appoint one or more Assistant </font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">11</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='11',FILE='C:\JMS\105588\09-8295-1\task3437838\8295-1-ki-03.htm',USER='105588',CD='Mar 21 00:29 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Treasurers who shall have the same powers and
duties as the Treasurer to be performed in the Treasurer&#146;s absence.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;4.07.&#160; <u>Secretary.</u>&#160; It shall be the duty of the Secretary to act
as secretary at all meetings of the Board, of the committees of the Board and
of the stockholders and to record the proceedings of such meetings in a book or
books to be kept for that purpose; the Secretary shall see that all notices
required to be given by the Corporation are duly given and served; the
Secretary shall be custodian of the seal of the Corporation and shall affix the
seal or cause it to be affixed to all certificates of stock of the Corporation
(unless the seal of the Corporation on such certificates shall be a facsimile)
and to all documents, the execution of which on behalf of the Corporation under
its seal is duly authorized in accordance with the provisions of these Bylaws;
the Secretary shall have charge of the books, records and papers of the
Corporation and shall see that the reports, statements and other documents
required by law to be kept and filed are properly kept and filed; and, in
general, shall perform all of the duties incident to the office of
Secretary.&#160; The Secretary shall also have
such powers and perform such duties as are assigned the Secretary by these
Bylaws and shall have such other powers and perform such other duties, not
inconsistent with these Bylaws, as from time to time may be assigned by the
Board.&#160; The Secretary shall, when
requested, counsel with and advise the other officers of the Corporation and
shall perform such other duties as he may agree with the President or as the
Board may from time to time determine.&#160;
The Board shall have the right to appoint one or more Assistant Secretaries
who shall have the same powers and duties as the Secretary to be performed in
the Secretary&#146;s absence.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE V</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Capital Stock</font></u></p>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;5.01.&#160; <u>Certificates for Shares.</u>&#160; The shares of stock of the Corporation shall
be represented by certificates, or shall be uncertificated shares that may be
evidenced by a book-entry system maintained by the registrar of such stock, or
a combination of both.&#160; To the extent
that shares are represented by certificates, such certificates shall be in such
form as shall be approved by the Board.&#160;
The certificates representing shares of stock of each class shall be
signed by or in the name of the Corporation by the President or a Vice
President and the Treasurer, the Secretary or any Assistant Secretary.&#160; Any or all such signatures may be facsimiles
if countersigned by a transfer agent or registrar.&#160; Although any officer, transfer agent or
registrar whose manual or facsimile signature is affixed to such a certificate
ceases to be such officer, transfer agent or registrar before such certificate
has been issued, it may nevertheless be issued by the Corporation with the same
effect as if such officer, transfer agent or registrar held such position at
the date of its issue.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">The stock ledger and blank
share certificates shall be kept by the Secretary or by a transfer agent or by
a registrar or by any other officer or agent designated by the Board.</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">12</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='12',FILE='C:\JMS\105588\09-8295-1\task3437838\8295-1-ki-03.htm',USER='105588',CD='Mar 21 00:29 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;5.02.&#160; <u>Transfer of Shares.</u>&#160; Transfers of shares of stock of each class of
the Corporation shall be made only on the books of the Corporation upon
authorization by the registered holder thereof, or by such holder&#146;s attorney
thereunto authorized by a power of attorney duly executed and filed with the
Secretary or a transfer agent for such stock, if any, and if such shares are
represented by a certificate, upon surrender of the certificate or certificates
for such shares properly endorsed or accompanied by a duly executed stock
transfer power (or by proper evidence of succession, assignment or authority to
transfer) and the payment of any taxes thereon; <u>provided</u>, <u>however</u>,
that the Corporation shall be entitled to recognize and enforce any lawful
restriction on transfer.&#160; The person in
whose name shares are registered on the books of the Corporation shall be
deemed the owner thereof for all purposes as regards to the Corporation; <u>provided</u>,
<u>further</u>, that whenever any transfer of shares shall be made for
collateral security and not absolutely, and written notice thereof shall be
given to the Secretary or to such transfer agent, such fact shall be stated in
the entry of the transfer.&#160; No transfer
of shares shall be valid as against the Corporation, its stockholders or
creditors for any purpose, except to render the transferee liable for the debts
of the Corporation to the extent provided by law, until it shall have been
entered in the stock records of the Corporation by an entry showing from and to
whom transferred.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;5.03.&#160; <u>Registered Stockholders and Addresses of
Stockholders.</u>&#160; The Corporation shall
be entitled to recognize the exclusive right of a person registered on its
records as the owner of shares of stock to receive dividends and to vote as
such owner and shall not be bound to recognize any equitable or other claim to
or interest in such share or shares of stock on the part of any other person,
whether or not it shall have express or other notice thereof, except as
otherwise provided by law.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Each stockholder shall
designate to the Secretary, or transfer agent of the Corporation, an address at
which notices of meetings and all other corporate notices may be given to such
person, and, if any stockholder shall fail to designate such address, corporate
notices may be given to such person by mail directed to such person at such
person&#146;s post office address, if any, as the same appears on the stock record
books of the Corporation or at such person&#146;s last known post office address.</font></p>

<p style="margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;5.04.&#160; <u>Lost, Destroyed and Mutilated
Certificates.</u>&#160; The holder of any
certificate representing any shares of stock of the Corporation shall
immediately notify the Corporation of any loss, theft, destruction or
mutilation of such certificate; the Corporation may issue to such holder a new
certificate or certificates for shares, upon the surrender of the mutilated
certificate or, in the case of loss, theft or destruction of the certificate,
upon satisfactory proof of such loss, theft or destruction; the Board, or a
committee designated thereby, or the transfer agents and registrars for the
stock, may, in their discretion, require the owner of the lost, stolen or
destroyed certificate, or such person&#146;s legal representative, to give the
Corporation a bond in such sum and with such surety or sureties as they may
direct to indemnify the Corporation and said transfer agents and registrars
against any claim that may be made on account of the alleged loss, theft or
destruction of any such certificate or the issuance of such new certificate.</font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">13</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='13',FILE='C:\JMS\105588\09-8295-1\task3437838\8295-1-ki-03.htm',USER='105588',CD='Mar 21 00:29 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;5.05.&#160; <u>Regulations.</u>&#160; The Board may make such additional rules&nbsp;and
regulations as it may deem expedient concerning the issue, transfer and
registration of certificated or uncertificated shares of stock of each class of
the Corporation, and may make such rules&nbsp;and take such action as it may
deem expedient concerning the issue of certificates in lieu of certificates
claimed to have been lost, destroyed, stolen or mutilated.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;5.06.&#160; <u>Fixing Date for Determination of
Stockholders of Record.</u>&#160; In order
that the Corporation may determine the stockholders entitled to notice of or to
vote at any meeting of stockholders or any adjournment thereof, or entitled to
receive payment of any dividend or other distribution or allotment or any
rights, or entitled to exercise any rights in respect of any change, conversion
or exchange of stock or for the purpose of any other lawful action (other than
action by stockholders to be taken by written consent), the Board may fix, in
advance, a record date, which shall not be more than 60&nbsp;days nor less than
10&nbsp;days before the date of such meeting, nor more than 60&nbsp;days prior
to any other action.&#160; A determination of
stockholders entitled to notice of or to vote at a meeting of the stockholders
shall apply to any adjournment of the meeting; <u>provided</u>, <u>however</u>,
that the Board may fix a new record date for the adjourned meeting.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;5.07.&#160; <u>Transfer Agents and Registrars.</u>&#160; The Board may appoint, or authorize any
officer or officers to appoint, one or more transfer agents and one or more
registrars.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">ARTICLE VI</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><u><font size="2" face="Times New Roman" style="font-size:10.0pt;">Miscellaneous</font></u></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;6.01.&#160; <u>Seal.</u>&#160;
The Board may provide a suitable corporate seal, which shall bear, but
not be limited to, the full name of the Corporation and shall be in the charge
of the Secretary.&#160; The seal may be used
by causing it or a facsimile thereof to be impressed or affixed or in any other
manner reproduced.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;6.02.&#160; <u>Fiscal Year.</u>&#160; The fiscal year of the Corporation shall be
fixed by the Board.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;6.03.&#160; <u>Waiver of Notice.</u>&#160; Whenever any notice whatsoever is required to
be given by these Bylaws, by the Certificate or by law, the person entitled
thereto may, either before or after the meeting or other matter in respect of
which such notice is to be given, waive such notice in writing or as otherwise
permitted by law, which shall be filed with or entered upon the records of the
meeting or the records kept with respect to such other matter, as the case may
be, and in such event such notice need not be given to such person and such
waiver shall be deemed equivalent to such notice.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;6.04.&#160; <u>Amendments.</u>&#160; These Bylaws may be made, amended, altered,
changed, added to or repealed by the Board or by the stockholders of the
Corporation at any meeting of the Board or of the stockholders by a vote of
two-thirds of the stockholders entitled to vote thereon who are present in
person or represented by </font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">14</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='14',FILE='C:\JMS\105588\09-8295-1\task3437838\8295-1-ki-03.htm',USER='105588',CD='Mar 21 00:29 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">proxy (and where a separate vote by class or
series is required with respect to any such proposed change, a two-thirds vote
cast by the stockholders of such class or series who are present in person or
represented by proxy shall be the act of such class or series); <u>provided</u>,
in the case of a meeting of the stockholders, that notice of the proposed
change was given in the notice of the meeting of the stockholders.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;6.05.&#160; <u>Execution of Documents.</u>&#160; The Board, or any committee thereof, shall
designate the officers, employees and agents of the Corporation who shall have
power to execute and deliver deeds, contracts, mortgages, bonds, debentures,
notes, checks, drafts and other orders for the payment of money and other
documents for and in the name of the Corporation and may authorize (including
authority to redelegate) by written instrument to other officers, employees or
agents of the Corporation.&#160; Such
delegation may be by resolution or otherwise, and the authority granted shall
be general or confined to specific matters, all as the Board or any such
committee may determine.&#160; In the absence
of such designation referred to in the first sentence of this Section&nbsp;6.05,
the officers of the Corporation shall have such power so referred to, to the
extent incident to the normal performance of their duties.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;6.06.&#160; <u>Checks.</u>&#160; All checks, drafts and other orders for the
payment of money out of the funds of the Corporation, and all notes or other
evidences of indebtedness of the Corporation, shall be signed on behalf of the
Corporation in such manner as shall from time to time be determined by
resolution of the Board or of any committee thereof or by any officer of the Corporation
to whom power in respect of financial operations shall have been delegated by
the Board, or any such committee thereof, or as set forth in these Bylaws.&#160; In the absence of such a determination, the
officers of the Corporation shall have such power so referred to, to the extent
incident to the normal performance of their duties.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;6.07.&#160; <u>Proxies in Respect of Stock or Other
Securities of Other Corporations.</u>&#160;
The Board, or any committee thereof, shall designate the officers of the
Corporation who shall have authority from time to time to appoint an agent or
agents of the Corporation to exercise in the name and on behalf of the
Corporation the powers and rights which the Corporation may have as the holder
of stock or other securities in any other corporation or other entity, and to
vote or consent in respect of such stock or securities; such designated
officers may instruct the person or persons so appointed as to the manner of
exercising such powers and rights; and such designated officers may execute or
cause to be executed in the name and on behalf of the Corporation and under its
corporate seal, or otherwise, such written proxies, powers of attorney or other
instruments as they may deem necessary or proper in order that the Corporation
may exercise its said powers and rights.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;6.08.&#160; <u>Dividends.</u>&#160; Subject to the requirements of the DGCL and
the Certificate, dividends upon the capital stock of the Corporation, if any,
may be declared by the Board at any regular or special meeting of the Board (or
any action by written consent in lieu thereof in accordance with these Bylaws),
and may be paid in cash, in property or in shares of the Corporation&#146;s capital
stock.&#160; Before any payment of any
dividend, there may be set aside out of any funds of the Corporation available
for </font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">15</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='15',FILE='C:\JMS\105588\09-8295-1\task3437838\8295-1-ki-03.htm',USER='105588',CD='Mar 21 00:29 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="margin:0in 0in .0001pt;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">dividends such sum or sums as the Board from
time to time, in its absolute discretion, deems proper as a reserve or reserves
to meet contingencies, or for equalizing dividends, or for repairing or
maintaining any property of the Corporation, or for any proper purpose, and the
Board may modify or abolish any such reserve.</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman">&nbsp;</font></h2>

<h2 style="font-weight:normal;margin:0in 0in .0001pt;text-indent:1.0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">SECTION&nbsp;6.09.&#160; <u>Subject to Law and the Certificate.</u>&nbsp;&nbsp;All
powers, duties and responsibilities provided for in these Bylaws, whether or
not explicitly so qualified, are qualified by the provisions of applicable law
and the Certificate.</font></h2>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">16</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='16',FILE='C:\JMS\105588\09-8295-1\task3437838\8295-1-ki-03.htm',USER='105588',CD='Mar 21 00:29 2009' -->


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>3
<FILENAME>a09-8295_1ex99d1.htm
<DESCRIPTION>EX-99.1
<TEXT>

<html>

<head>





</head>

<body lang="EN-US">

<div style="font-family:Times New Roman;">

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">Exhibit&nbsp;99.1</font></b></p>

<p align="right" style="margin:0in 0in .0001pt;text-align:right;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-weight:bold;"><img width="365" height="34" src="g82951mmi001.gif" alt="GRAPHIC"></font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">&nbsp;</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">NEWS RELEASE</font></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><b><u><font size="2" face="Times New Roman" style="font-size:10.0pt;font-weight:bold;">BIOFUEL ELECTS NEW CHAIRMAN</font></u></b></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">DENVER, March&nbsp;20, 2009 &#151; BioFuel Energy
Corp. (NASDAQ: BIOF) announced today that Mark W. Wong, a Director of the
Company since January&nbsp;2008, had been elected Chairman of the Board.&#160; Mr.&nbsp;Wong currently serves as Chief
Executive Officer of Agrivida Inc., a privately held company engaged in the
cellulosic ethanol business based in Boston, Massachusetts.&#160; Mr.&nbsp;Wong replaces Thomas J. Edelman, who
had served as BioFuel&#146;s Chairman and Chairman of the Board since its
formation.&#160; Mr.&nbsp;Edelman stepped down
to meet the growing requirements of another business commitment.&#160; However, he has offered to continue to assist
BioFuel&#146;s Board and management on an unpaid basis for the foreseeable
future.&#160; Mr.&nbsp;Edelman&#146;s departure, in
concert with a series of other personnel changes and cost reduction
initiatives, is expected to reduce the Company&#146;s corporate overhead by roughly
20%.&#160; Simultaneously, the Company
announced that Todd Q. Swanson, a Director who had served as Third Point LLC&#146;s
representative on the Board since March&nbsp;2008, had resigned.&#160; Mr.&nbsp;Swanson recently left Third Point to
join Barclays Capital.&#160; He stepped down
at the request of his new Firm.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="font-size:10.0pt;line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Mr.&nbsp;Wong
brings considerable experience and industry expertise to his new position on
the Board.&#160; He served as the chief
executive officer of Renewable Agricultural Energy Corporation, a private
ethanol production company from 2006 to 2007.&#160;
From 1999 to 2005, Mr.&nbsp;Wong was Chief Executive Officer of Emergent
Genetics, an international seed company he had founded that was sold to
Monsanto Company in 2005.&#160; Prior to that
time, Mr.&nbsp;Wong had founded and managed a series of agricultural and
biotechnology companies including Big Stone Partners, Agracetus Corporation and
Agrigenetics Corporation.&#160; Earlier in his
career, Mr.&nbsp;Wong had worked as an engineer for FMC Corporation and
Chemical Constru</font>ction
Corporation.&#160; Mr.&nbsp;Wong received a
Bachelor of Science in Chemical Engineering from Lehigh University and a MBA
from the Wharton School of Business at the University of Pennsylvania.</p>

<p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">BioFuel&#146;s production facilities are located
in Wood River, Nebraska and Fairmont, Minnesota.&#160; Its plants were constructed next to existing
Cargill,&nbsp;Inc. grain elevators and adjacent to Union Pacific&#146;s main rail
lines.&#160; At nameplate capacity, the
Company&#146;s plants are capable of producing 230 million gallons of fuel grade
ethanol and up to 720,000 tons of dried distillers&#146; grain annually.&#160; Both plants have run at nameplate capacity
since year-end and the Company hopes to materially exceed stated capacity in
the coming months.&#160; A portion of
distillers&#146; grain may be sold as wet distillers&#146; grain when market conditions
permit.&#160; BioFuel has long-term contracts
with Cargill to handle corn procurement and the sale of ethanol and distillers&#146;
grain for its plants.</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">This release contains certain forward-looking
statements within the meaning of the Federal securities laws.&#160; Such statements are based on management&#146;s
current expectations, estimates and projections, which are subject to a wide
range of uncertainties and business risks.&#160;
Forward-looking statements should not be read as a guarantee of future
performance or results, and will </font></p>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\c900225\09-8295-1\task3437839\8295-1-mm.htm',USER='c900225',CD='Mar 21 00:35 2009' -->


<br clear="all" style="page-break-before:always;">


<div>

<p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">not necessarily be accurate indications of
whether, or the times by which, our performance or results may be
achieved.&#160; Factors that could cause <font face="Times New Roman">actual results to differ from those
anticipated are discussed in our Exchange Act filings and our Annual Report on Form&nbsp;10-K.</font></font></p>

<p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">###</font></p>

<p align="center" style="line-height:normal;margin:0in 0in .0001pt;text-align:center;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<table border="0" cellspacing="0" cellpadding="0" width="100%" style="border-collapse:collapse;width:100.0%;">
 <tr>
  <td width="9%" valign="top" style="padding:0in .7pt 0in .7pt;width:9.94%;">
  <p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0in .7pt 0in .7pt;width:18.04%;">
  <p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Contact:</font></p>
  </td>
  <td width="39%" valign="top" style="padding:0in .7pt 0in .7pt;width:39.9%;">
  <p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Kelly G. Maguire</font></p>
  </td>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.12%;">
  <p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">For more information:</font></p>
  </td>
 </tr>
 <tr>
  <td width="9%" valign="top" style="padding:0in .7pt 0in .7pt;width:9.94%;">
  <p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0in .7pt 0in .7pt;width:18.04%;">
  <p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" valign="top" style="padding:0in .7pt 0in .7pt;width:39.9%;">
  <p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Vice President - Finance and</font></p>
  </td>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.12%;">
  <p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">www.bfenergy.com</font></p>
  </td>
 </tr>
 <tr>
  <td width="9%" valign="top" style="padding:0in .7pt 0in .7pt;width:9.94%;">
  <p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0in .7pt 0in .7pt;width:18.04%;">
  <p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" valign="top" style="padding:0in .7pt 0in .7pt;width:39.9%;">
  <p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">Chief Financial Officer</font></p>
  </td>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.12%;">
  <p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="9%" valign="top" style="padding:0in .7pt 0in .7pt;width:9.94%;">
  <p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0in .7pt 0in .7pt;width:18.04%;">
  <p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" valign="top" style="padding:0in .7pt 0in .7pt;width:39.9%;">
  <p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">(303) 592-8110</font></p>
  </td>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.12%;">
  <p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
 <tr>
  <td width="9%" valign="top" style="padding:0in .7pt 0in .7pt;width:9.94%;">
  <p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="18%" valign="top" style="padding:0in .7pt 0in .7pt;width:18.04%;">
  <p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
  <td width="39%" valign="top" style="padding:0in .7pt 0in .7pt;width:39.9%;">
  <p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:10.0pt;">kmaguire@bfenergy.com</font></p>
  </td>
  <td width="32%" valign="top" style="padding:0in .7pt 0in .7pt;width:32.12%;">
  <p style="line-height:normal;margin:0in 0in .0001pt;text-autospace:none;text-indent:0in;"><font size="2" face="Times New Roman" style="font-size:1.0pt;">&nbsp;</font></p>
  </td>
 </tr>
</table>

<p align="center" style="margin:0in 0in .0001pt;text-align:center;"><font size="2" face="Times New Roman">&nbsp;</font></p>

<div style="margin:0in 0in .0001pt;"><hr size="3" width="100%" noshade color="#010101" align="left"></div>

</div>
<!-- SEQ.=1,FOLIO='',FILE='C:\JMS\c900225\09-8295-1\task3437839\8295-1-mm.htm',USER='c900225',CD='Mar 21 00:35 2009' -->


</body>

</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>4
<FILENAME>g82951mmi001.gif
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 g82951mmi001.gif
M1TE&.#EA;0$B`/?_`$.$366X6\S;T,#2Q-;AV0A6(M+?U7N@A"IF.1)4(Z.]
MJ;G-OJ;7H&:G9O'U\DN-4LK9SGB>@H2UAJ+0GGJU=[#&MNCNZMGDW`1+%['+
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M>2QM.U2X2"1A,QQ;+`!-&/W^_?K[^H.FC+?+O`!'$_S]_.SQ[?/V]`5,&"]J
M/O3W]>[S[_7X]JS#LLC7S)BUG]CCVX>ICRQG.UB77"EE.-+LSS^`2CAO1D>)
M4"EK.7^CB&B3<X^NESAW33=W1$1^55F97TZ&8KC/O+'.M++'MW^NA/C[]ZS&
MM,/COVZ?=5.07(^UE5^@85*(7T6`6DF"5JK-J_3Z\Y:WH,O=S?[^_D!Z4.'R
MWR]P/?7Z]1Y>+_;[]H&IB8*PB,WHR3)M1*W)L,CCQ1M;*^SWZSEV2SQW2L+5
MR,75R0!($P!($@!'$O___R'_"TU33T9&24-%.2XP%P````MM<T]035-/1D9)
M0T4Y+C!"/*3U`"'_"TU33T9&24-%.2XP&`````QC;5!02D-M<#`W,3(````#
M2`!SO``A^00!``#_`"P`````;0$B```(_P#_"1Q(L*#!@P@3*ES(L*'#AQ`C
M2IQ(L:+%BQ@S:KRX:P,.=U]H?1E)ZY6AC2A3JES)LJ7+ES!A\B+A3F0!&RA:
MM<H$XY\<;D)$&(A)M*C1HTB3*K6XXYA(&Z><L6O18MJU?P,8G4)1((&Q6DO#
MBAU+MJS9@]&,T(*::-J-90``@/L'8QF9:9`"H?ABY<K9OX`#"Q[L\!&_+RA,
MM2`#H-D#(L@L^2'RH!F`9=,2!2KP9@CASZ!#BRZ:Y0CBMHV)1!G$ZH.<!JP&
M1:D6+X.`&DT*67!8J[=OL`I[,PQA`-<47`9.!O_-O*!OA,*=,V].\+G$Z=0'
M6H<>O3KV[@*_0_\T5'S*C@L*;8$WV-M61%X"4IA'#Q'3L&Q3.M1@*#XA=H4Z
M]'+:#0`\L%H0>GPB!A@:)%B&&`7I\A`(3%18X1A<4,'+08]42$5";70QAA'^
ME&C$&'@0D)`(%K98H1,#.1`*$V,48Y`P%<I`4!-CN-BB%031D0P36T`142U6
M^-BB``0]46$GP$6(0X58$'2+DA82,Y`A)2CY!AX0+'0!'K(8T4\__GA!B1.[
M',1'A7$<Y$`53(`RPT,0\`%*+_R4Z(4B)'BVT`YQ]#!*B?PDP`F;"/%"B9(E
M/&)C045XZ4F8!85@QUJP$*@:@AIH\,,_@-`P"1`"80+&(GEH0@XUXV#_JI`=
M_O339XEH4J)B02*4^,Q!NDCAA3_\G(EHK5[<(J%!):")9K&YE-C%0%#\T>=0
M!<V`9@D$U<#/K=^>B>8F!!'09P)M0E2+!V=^BVNX50ZTB:W]W&G0";[T601!
M:AC;;I]G2C&0'$P4BZBQ_HP204(Y)%#KP[?VPP0/!BU0*S_[&#0#LDTT)$<7
MO:!98B[A^C.+*`E9T`FQM>;R+)JRC"#GL.TZBV8"]@[$@\@ELLP/!EVX-Q`5
M_!20R30%1@$J#1/\(P\<I2#R3QT33!+$($0T<P,L-J@C=$)5V#H&);[8T[,O
MOQ0$3:VW&&3+RGZ6@,<!7;AB9HEQ?#W0$[4R_T&V+X![D`6U2_33"[8$;7`F
M%]V.TH\1'@`NN0=Q#D0`B?:D^U`M=A3KM^22%T*0![7V\T?'!9W`"9JX$-1%
MGW\H`KHO'J`LD!R;U#HVX'\@3()!NLAPZQ%;5'*`(%L4B^8!!CU1+`X%&9*,
MK0LS9,$;(AM1@B<'\)'OK5U$.5`QQ]QJ#PX1=&^'S3`6Y$`"_6!P#.#'.-RS
MS#KWJ2;@H%S<S[0"X<42:($"2)#!0*S0``TH4(]_N,$$JA@5*DS0!QIHX&I$
M`,`T3O&%#BPD;/Z`@"Y.8`%B>.%,&U";K=I6$"'@2@B[&D@;7%@K$33O3+BH
MA2UVN,-E_0,*2_#'X?\,HKA^,&X@-3A"/Y+QBQ/P<(<G*)<1^)&Y(]&J'T70
MX1/U]@_2/:P3]UJ=/UHWD"Z@*0):?&*4<$>L,(S0%D/@P1C\A+HR/BL&\1K(
M#A2AO&@49`!'X(<11*<S8B7@#,,I@<OZ(80V$.0$*4C&Q01&$`L@P$12V(UV
M%B#&?FB)(._CQQ_.<`(GUH`*#EMB,/+7CQCHPA:Z`(8.G.>/(S!)(!6`AC@8
MP0AD-(`"'Y"'0!"1A%4$8!OK",`+X%!!#33`$7E``CEL`((/]HF0`CD`W@K"
M!W_D@H4#V1B:<I`0$O0I%[;;6ZUVH!!@!'&(!=E`B8XHD!H<*AE15,CE_%'_
M175USA\+8$CY<.4/8:2.$\0BHT"Z4"+F*01W:!I&06K0`S1]:"`IZ)D:N"@0
M!W#!6!(ER!N(9<.!;*%$>&C(,Z+%#S\>9!?-^E9`!R*$F['S(+SX*#^\X,@8
M.>P/FA/(`DCD#P\*9&?]<$7TKOBK?XABIK6XPQWR^8\51"(-*E!!)/[A`BVH
MX@5)^,$*?$A"?8C/(&'CQRT%4H1:A4)M)0+G#]V!IDHL1`8N8X*1U-F/F2($
MB/%#W$#D:<3&\2,9'"W(Y?K1S\VMCQ]^30B[CE!3?S`AJ*HKD4+_\;I^5"\A
M;.R'#@P2`9)NZ1BVXL)9"?*+;&1#&#%D*YJ\0`>!_^`BD+1E2`UHUM1&N588
MV,3"$6I%L83\0A&U`J-/3:?))A'+I?_@@3=C8!`GV*IRR:`%/N!!#W0``0AF
M8``@TJ`*%:SB$&Y0QBI4$``6"&0%8"C#(L!!B'.D8*\(`>%:_S&#/CV!FVPC
MB"AJM01,+&07/:A5.O_!-X`J!(C^P(!@!5)$>O[#GKE`0&*E2,6@-H1S)8HL
M0HY1JWUTXDQJ>*08-VM&?GP6(1#UQV@+@E3E_@,7Q?+"I"82BA()0B!\ZP<T
M&B*%,_F"J@^)PYFJ.2@E]H(^_WB?/_[0W($\PE9SR)\_E%H0-*")R0GXPBFF
MT0PB!$&!?7B!%LPK"?>R(?\6`5C!/[H!B#XT*`K-(`,L"I"S@X"PMO5$;3^R
M3)!N]D.N5EA>0SQ1*R8#N59Y/`B$X9FX6EG8GOTX!D/VV5C>7#'2""$=/R!P
MB1,>80`#41WK7.>KA;!1Q@8Q1HF$,!!!](G6%4F!K1(`#`&,0I!03H@NJD"L
MBT($&/;HQQ&,^D&+^C075#9(3?E!SJ-&B\L$$8&M4OR/HF7B!LU0F@+AH(HU
MM[FJAS@$*M[!`54PDP9Z&,0#EI$(&S@TOR0]0`0ZD0`E>L`OA2X6.'DA"V*A
MFB$#*-$8OO:$,V5!`,.(>,3K"%A*#W:>AEW"%"HP@HZ/0!@'%PBG/<R?]?GC
M$=G_\+C'#3R0@:+:"=_R0-K^H>I^L!A-.$BYRJ<`98B*MB"\N&0_?B<05Y2H
MN!0YP?H.W2M&-F07#L-`;!U2"#3U8$,,N;+3.YH`45;Y'W2`GS^R4<A^<(L@
M"KC;%`0RAT`$`MSB[@.Y5>`"9?Q#%RZ(!0-TL0<5N+N"\9XW.VQ0TOS2JV?.
M&IP*#ST0"Y@M`754R"5(E`"L,]A?X:+>0-P96"(NKEO#-5B[2N0+*?*3Y`OA
MG*U85KHS9:SEQ4*U+8A]<H'4_.:E:WV)B.Z3W/4#F_\00`E*!$\YS''4!-FB
M\G=H$.D^SDQ&F#!"FM"+*5O^(2GH$W4;PH-BT3.4?YCY_S]L@0L$H&D)^.V^
M/\:`ABQDP1,C)?TJ_V$(770`''EH1`,F80)`,$`)`F$.'!`+AW`/;+!>6O`"
MI0!,Y8`-,$`(X_`("E$%`,-2(N,%BC<0T+!"C9=@?P!P"V$!\%-Y>^,LHO<M
MK[!Y[R1]&_`ME_9K!G,L_H``IM=I'V9RI0,N_1!I[,(/!P<!)#)(-+<Z-N<Z
M"&."WT))O5<LG:!O0L`)(4,L]\8+3%!+V`0%KN`!6KB%7.@!7"!^`F$+E'`K
M_H!K#$%])G-]#M%]_'!V#)$-G\=U_F`$?'``G@`"[/(P"D`0TD50K.</LM!3
M_\`$YS!__V`)EI`.!"$/>R`)L?_``:@@">L5``P@9[9G"'+`$!3H#\0P`!TP
M`!M`>T<0!H76#]^T>>XPA])W$`:@1/:0B8_&#U:@!K18BV0G$.XD1"R()I<V
M7'\P!\9@#"00C+>P8/O4`Z@7'"8G`CD0C"3PC"2`2`,A:B&G3?P0"KI0"YQ0
M++@7`SDPC,%H#+<04KWW.$8W>D)T;S2W=#?U#[LP+`>C/#US#*NU,R4R"K(2
M@O!C!/L1$?MP)LFP6@>1!;4"/5S'#SU`>\^2*)]42,0B,LK6`Y40>5[P!2WP
M#-=P`?=@"7?@!DKP`RZP"I+@B*C``)+H`A!2!ZOB",C`".H@#?L"-K826X;@
M"M]BD`+_L3:,-Q"A@"9]EA!44"+8QF!]0HX'P7D61V$8AT3#I6D+L5C(:$5M
MQ!`>T"<A]PL(T">#@U!%6$8NTULPECM'``&)AB:N<`#[)1`@<":]!0S'\`=P
M&9=_T`,GU`\VEGR4@',/80N/M8<1T00GU`N"J!`KTP_W%DKN<`&2%&%6D`.`
MQH=HD@P*,)D\H`/XU7($!`D`0`3AL'^30&YK)I(_4`L!H`(<4`OO4#4:P`I1
MH$&9\`4AYV?$DI:`Q`^@\#5\<"9R]0QG4@4-P0QHHH0,5BLB5A#`,`M"-)@"
M,6#^T(O\H&%/.451Z4_%4IP&D8>QN0-*E``$$`/?PF+%\F('_^%SA=`$?U`B
MXCDTQ#(&\U<+NV`!\!F?%C`$YM</:(`0@D`L/[D0>$`L;K@YYZB."'$)7></
M(?<^IA,"83!<H[!@?.B?#&$,1F`#L$`&X79F<O<"Y98&HQ()*I`$YN`&24`#
M\"9O`-`"*(`"#C"!9Y*6-1`R'S@0N;F3(F<F_8!T"*$`Q6($.W9YD/50R<`/
M1V"4`D$T=@EZ,[AAEB.=R>@?G?.C"T$Z_1";_R`#:/($6X!#KM,GZ5D0,39:
MSL</I'`09Y!*A)80,["=TF@0KU`B^ZD0!E!]-^H0/L2<?_"8""$#M4()7X.@
MT78`9Y(`:7E4);)]"R$`GI`/2$,$K/^@!QK0!WT0`*D@9S^@!5K0#=N0!(#'
MFGEF"C9@AOCF#VDY!7VR"5$RHW+U#Y50*W^0CP4Q#.?I#RG8)*9HG01AD_W0
M/@31"=_R8DG4#]"I3U-D@R57JP)5(E2*":D8/]S(:O[0I03Q:C.F;:;3CP5A
MC;VP=@C1`5WG8@EA:YX4$2)0+`GP>@<A!5L0"I1`B@(1#&/8#U70I,0@,@;E
M4U.V&[:`/?W@`2M*8VABJ,9U`!"`"0(``SX@`1*P"!-0#W4P-:GP50&@"ZG0
M3$$0!0]PHJWP!>T8JK%5"$QP)H7W#]W$#ZF*">8W9?5*8[%Z#)<YG%":$'-`
M8'@Z5&?";!?_]FM.*:R,%0)6U">@=A`DYH,&,04/N6IVU`]@.9Z^-V/`,$?^
M\`8\"W2/U0O&H(;_L`%B1PE66VLETI`.80$%XP\)X)>5)#PE\@2P*!#[0%2<
M,*B_(`5*U`\A&V4_I4D$X##\,+?1)90'<04$$$/F9`W<\'4G@`A5`ZEP,`%U
M4`JA@D$`<`.>^@9**A"TIP;!&`$@4)?11Q`ZF:K_8`"S(#*N,`/[8`#[@`8Q
ML$CNH)PN:ZL#<085U0]+D`40,`P'0#.NH#?V)$JW((S0.`?&.$5><`"^2P*W
MD`4^=!"<\RTB4+PD,`<D$'DN=Q`@$(,L5BO>"(W/.(X#,R^P)A!8_U!]_N`)
M!W$!LA`NFW`+`V"Z3G!2?<($4U<0@G`F7NL0!E`X)1(*:#`,A;`#$1!$);(%
M+(=VPS6'<2`,$%`('7`+0;HM:2N'T280&U,K/\D#+C.4`\%H_#`0(>`4%,H(
MWA`/$D`!#>"H)$H#)F`)/_`)>H!!><8.>_&S!I&EMM(G!B-(#MI-_B"<`W$!
M^OHL(6,S,8"GZO2R"5$!1(4KSC(+P79A<;MZQY(,IN<L%Y,HVZ",_L(SQ1)I
MJ)4+5"H0!!HNF]6F9.B'X&1\)3)C`G$+]'H0=/`&$1,_-F-VUHH0_>(/]RD1
M!H"#Q((!:$(R_A`'`UP0V9"*RB/'N2<##_]\D!$L$'#C!?NE?@";P;5"$.%+
M0)U2($0P"$&`('K0`(A@"PUP-1:;9Y#0"@604@S1.<^"*PE@!>8Z$'KJ#TD[
M$+:0!0WL+GV2#%2`9`0Q?`[&$!WPI.%R!%S0H_4D+A"Y>J5G.05,AK;R!Y-;
M"[YP+#4L,NPJ$`ULLP317V<2DP(!KLK\D/[`>P3C>LEWCEZPBK9`!<<`R"+#
M#XJP`<F+$&OC#\86$7)@#!\;+GTR"E6`HV3:!>>9Q;W@"BF`$`XP+`E095=0
MA?VP"<W5AV]E$/VYP001#8>!`K`P#<M09E&P&A1P"?^P"+*1-8][R@7@"LJQ
M$&%0`2D0TS$]`(+_8A`&P'%-7!#!L``YP`<BP`=.L``M?1##,`+9`((+07X'
M(`(R0`)JK-,IX%I2+=,5$&F\4`11[5I4O0,":<D5D`TR#=8R#0P$,0`54`%-
MB@M?765M,`(Q+=92/0*/:7\P3=:5!-,\$+];L@#&(`,_[01NY!!M70$D71%7
M+05^70E90*0*80'"L-0B(`A4`'SWL@`5L`!<=`%N/04U?08=]]26PW$&(07V
M<!.!L!@`\`W:X`<TYP.481EW`0M<,0]?-QJV?=NXG=L+`1]%4`2X<`T&,',#
M@`27L0PWT`*)<`HV\`5/4-NZ_=S0'=V@00<#4`-#8``+0`CB0!4M``F)3.`,
MK6`#!>`%SS"YTGW>Z)W>1]$$C[`)-F$#.)&B*"#>(P$"@ZK>^)W?^MT20T`,
?3]`#&$`+`B[@"6`':+G?")[@"K[@#-[@#EX4`0$`.S\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
-----END PRIVACY-ENHANCED MESSAGE-----
