Syntroleum Announces Management Realignment, Cost Reduction and Financing

Effective December 28, 2007, John B. Holmes, Jr., the Company’s Chief Executive Officer, has elected to retire from the Company. Mr. Holmes will resign his positions as an officer and director of the Company effective November 19, 2007.

Effective December 2, 2007, Kenneth L. Agee, the Company’s Chairman of the Board and Chief Research Officer, has elected to retire from the Company. Mr. Agee will resign his positions as an officer, director and chairman of the Board of Directors, effective November 19, 2007. Mr. Agee is currently in negotiations with the Company to purchase certain of the research and laboratory facilities.

Effective November 19, 2007, Mr. Edward G. Roth has been elected by the Board of Directors as the Company’s President and Chief Executive Officer. Mr. Roth was previously President and Chief Operating Officer.

Effective November 19, 2007, the Board of Directors has elected Mr. Robert B. Rosene, a current director, as the non-executive Chairman of the Board.

Commenting on the management realignment, Robert Rosene, newly elected, non-executive Chairman said, “We want to thank Ken Agee and Jack Holmes for their many contributions to Syntroleum over the years. We appreciate their commitment to the corporation and their ongoing support of our efforts.”

Jack Holmes, outgoing CEO of Syntroleum, said, “We are pleased to name Gary Roth as the new Chief Executive Officer of Syntroleum. Gary has an extensive background in the energy industry, and as president and COO of Syntroleum, spearheaded our restructuring and transition into the commercialization of our technology now that our research and development initiatives are complete. We are confident that he will successfully lead Syntroleum going forward.”

Additionally, the company has enacted certain structural changes reducing its headcount and operating expense and, as announced earlier this morning, has secured $12 million in financing for its Dynamic Fuels venture with Tyson Foods.

Details of the restructuring and financing will be presented on the Syntroleum conference call to be held this morning at 10:00 a.m. Central time (11:00 a.m. Eastern). To participate in the teleconference, investors should dial 800-374-1301 about 10 minutes before the start time and reference the Syntroleum conference call. International callers should dial 706-634-7261. The conference call can also be accessed by visiting the company’s Web site, .

About Syntroleum

Syntroleum Corporation owns the Syntroleum? Process for Fischer-Tropsch (FT) conversion of synthesis gas derived from biomass, coal, natural gas and other carbon-based feedstocks into liquid hydrocarbons, the Synfining? Process for upgrading FT liquid hydrocarbons into middle distillate products such as synthetic diesel and jet fuels, and the Biofining? technology for converting animal fat and vegetable oil feedstocks into middle distillate products such as renewable diesel and jet fuel. Together with Tyson Foods, Syntroleum is focused on siting, engineering and constructing a plant that produces clean renewable synthetic diesel and jet fuel using low grade fats and greases as feedstock. The 50/50 venture – known as Dynamic Fuels – was formed to construct and operate multiple renewable synthetic fuel facilities, with production on the first site beginning in 2010. The Company plans to use its portfolio of technologies to develop and participate in synthetic and renewable fuel projects. For additional information, visit the company’s Web site at .

This document includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as well as historical facts. These forward-looking statements may include statements relating to the Syntroleum? Process, the Synfining? Process, our renewable fuels Biofining? technology, plans to use the Company’s various technologies, commercialization of the Company’s technologies, the impact of various financings and future financing plans of the Company. When used in this document, the words “anticipate,” “believe,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “should” and similar expressions are intended to be among the statements that identify forward-looking statements. Although we believe that the expectations reflected in these forward-looking statements are reasonable, these kinds of statements involve risks and uncertainties. Actual results may not be consistent with these forward-looking statements. Syntroleum undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time. Important factors that could cause actual results to differ from these forward-looking statements include the potential that debt or equity financing for anticipated plants or related natural gas liquids or oil and gas projects may not be available (including without limitation as a result of failure to consummate the financing described in this document), the schedule for development, construction and operation of proposed plants may not be met, anticipated appropriation and expenditure of federal monies does not occur, commercial-scale plants do not achieve the same results as those demonstrated on a laboratory or pilot basis or that such plants experience technological and mechanical problems, the potential that improvements to Syntroleum’s various technologies currently under development may not be successful, the impact on plant economics of operating conditions (including energy prices), construction risks, risks associated with investments and operations in foreign countries, our dependence on strategic relationships with manufacturing and engineering companies, volatility of energy prices, the ability to implement corporate strategies, including the continued availability of adequate working capital, competition, intellectual property risks, our ability to obtain financing and other risks described in the Company’s filings with the Securities and Exchange Commission.

? “Syntroleum” is registered as a trademark and service mark in the U.S. Patent and Trademark Office.