X0202 4 2008-05-06 0000778164 Pacific Ethanol, Inc. PEIX 0001052192 CASCADE INVESTMENT LLC 2365 CARILLON POINT KIRKLAND WA 98033 0 0 1 0 0000902012 GATES WILLIAM H III ONE MICROSOFT WAY REDMOND WA 98052 0 0 1 0 Common Stock 2008-05-06 4 S 0 2500 3.4600 D 1900024 D Common Stock 2008-05-06 4 S 0 2994 3.4500 D 1897030 D Common Stock 2008-05-06 4 S 0 10000 3.4400 D 1887030 D Common Stock 2008-05-06 4 S 0 7435 3.4200 D 1879595 D Common Stock 2008-05-06 4 S 0 700 3.4100 D 1878895 D Common Stock 2008-05-06 4 S 0 17071 3.4000 D 1861824 D Common Stock 2008-05-06 4 S 0 1400 3.3800 D 1860424 D Common Stock 2008-05-06 4 S 0 300 3.3750 D 1860124 D Common Stock 2008-05-06 4 S 0 1168 3.3700 D 1858956 D Common Stock 2008-05-06 4 S 0 6216 3.3600 D 1852740 D Common Stock 2008-05-06 4 S 0 2071 3.3500 D 1850669 D Common Stock 2008-05-06 4 S 0 500 3.3350 D 1850169 D Common Stock 2008-05-06 4 S 0 6776 3.3300 D 1843393 D Common Stock 2008-05-06 4 S 0 363 3.3250 D 1843030 D Common Stock 2008-05-06 4 S 0 27330 3.3200 D 1815700 D Common Stock 2008-05-06 4 S 0 3796 3.3100 D 1811904 D Common Stock 2008-05-06 4 S 0 9380 3.3000 D 1802524 D * Duly authorized under Special Power of Attorney appointing Michael Larson attorney-in-fact, dated February 3, 2006, by and on behalf of William H. Gates III, filed as Exhibit 99.1 to Cascade Investment, L.L.C.'s Amendment No. 2 to Schedule 13G with respect to Arch Capital Group Ltd. on March 7, 2006, SEC File No. 005-45257, and incorporated by reference herein. Cascade Investment, L.L.C. By: /s/ Michael Larson, Business Manager 2008-05-08 William H. Gates III By: /s/ Michael Larson*, Attorney-In-Fact 2008-05-08