Ir Lee Swee Eng Invests US$12.325 Million In Mission NewEnergy Limited (ASX:MBT)

Mission NewEnergy Limited (ASX:MBT)(PINK:MIBFF) is pleased to announce that subject to the necessary approvals having had and obtained, Ir Lee Swee Eng (“Ir Lee”) has agreed to invest US$12.325 million in Mission via subscription for 85 million ordinary shares and warrants under the same financial terms as Mission’s Private Placement announced on 28 April 2009. Ir Lee’s investment will be subject to shareholder’s approval at an Extraordinary General Meeting (EGM) of Mission intended to be called on or around 31 July 2009 for purposes of meeting item 7 of section 611 of the Corporations Act. Upon successful placement, Ir Lee will inter alia, be entitled to appoint two directors to the board of Mission, one of whom shall be an executive director. “I believe the business of alternative energy has a long term potential and biodiesel is a critical pillar in the alternative energy mix. “With Ir Lee’s skills and expertise to share in Mission, I look forward to welcome Ir Lee on the board of Mission and to his contributions” stated Mr Nathan Mahalingam, Managing Director of Mission. (June 16, 2009)