X0202 4 2005-03-23 0000778164 Pacific Ethanol, Inc. PEIX 0001320387 GREINKE FRANK P 5711 N. WEST AVENUE FRESNO CA 93711 1 0 0 0 Common Stock 2005-03-23 4 J 0 1500000 A 1500000 I By Southern Counties Oil Co. Reporting person received 1,500,000 shares of common stock in Pacific Ethanol, Inc., a Delaware corporation, in exchange for the 1,500,000 shares of common stock reporting person beneficially held in Pacific Ethanol, Inc., a California corporation, pursuant to a share exchange transaction which closed on March 23, 2005. Reporting person is the Chief Executive Officer of Southern Counties Oil Co., a California corporation, which is the General Partner of Southern Counties Oil Co., a California limited partnership ("SCOC"). Reporting person has sole voting and sole investment power over the shares held by SCOC. /s/ Frank P. Greinke 2005-03-23