ERA Carbon Offsets Ltd.
TSX VENTURE : ESR

ERA Carbon Offsets Ltd.

September 18, 2008 16:00 ET

ERA Carbon Offsets Ltd. Announces Verified Carbon Rights Purchase and Sales Agreement With Integrated Oil and Gas Company

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 18, 2008) - ERA Carbon Offsets Ltd. (TSX VENTURE:ESR), ("the Company"), is pleased to announce that its wholly owned subsidiary, ERA Ecosystem Restoration Associates Inc. (ERA), has executed a "Verified Carbon Rights Purchase and Sales Agreement" with a large integrated oil and gas company operating in Canada. The oil and gas company, an industry leader in sustainable development, will apply the offsets to achieving its voluntary goals for offsetting emissions arising from operations in northern Alberta.

The multi-year deal involves the purchase of a minimum of 100,000 tonnes per year of EcoNeutral® carbon offsets, validated and verified to the ISO 14064-2 standard. The Agreement allows for additional carbon offsets to be purchased as required over the contract period. The first purchase of 100,000 tonnes was completed in September 2008.

ERA is producing EcoNeutral® offsets from the company's "Community Ecosystem Restoration Project" ("CERP") in the Lower Fraser Valley, near Vancouver, British Columbia. The project began in February of 2006 with the signing of an Agreement between ERA and the District of Maple Ridge. To date, ERA has generated over 500,000 tonnes of validated and verified EcoNeutral® carbon offsets from the project to supply the voluntary carbon offset market.

ERA has also signed Agreements with the City of Langley, the Township of Langley, Metro Vancouver, and the District of Mission. CERP project implementation began in these communities with the City of Langley, in July of 2008.

ON BEHALF OF ERA CARBON OFFSETS LTD.:

Robert Falls, Ph.D., Chief Executive Officer

ERA Ecosystem Restoration Associates Inc.

ERA is a Canadian based pioneer in forest-based carbon offset programs and project development. Through these initiatives, ERA produces significant, measurable carbon sequestration benefits that are validated and verified to world standard and sold to purchasers interested in offsetting their greenhouse gas footprints as a means of mitigating the effects of climate change. ERA is producing EcoNeutral® offsets from the company's "Community Ecosystem Restoration Program" in the Lower Fraser Valley, near Vancouver, British Columbia. The project began in February of 2006 with the signing of an Agreement between ERA and the District of Maple Ridge. To date, ERA has generated over 500,000 tonnes of validated and verified EcoNeutral® carbon offsets from the ecosystem restoration project to supply the voluntary carbon offset market. ERA clients and offset users include Rolling Stone Magazine, Shell Canada Ltd., Air Canada and the Globe Foundation.

"This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements."

"The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release."

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