ERA Carbon Offsets Ltd.
TSX VENTURE : ESR

ERA Carbon Offsets Ltd.

December 31, 2009 17:00 ET

ERA Carbon Offsets Ltd. Extends Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 31, 2009) - ERA Carbon Offsets Ltd., (TSX VENTURE:ESR), announces that, due to the holiday season, it is extending the closing of its previously announced $0.75 financing.

The proposed non-brokered private placement, as previously announced on October 14, and November 16, 2009, will consist of up to 7,360,000 common shares at a price of CAD$0.75 per share, for gross proceeds of up to CAD$5,520,000; and will be subscribed by Forest Carbon Group AG, a subsidiary of HEAG Südhessische Energie AG, a large German energy company. 

About ERA Carbon Offsets Ltd.

ERA is a Canadian based pioneer in forest-based carbon offset programs and project development. Through its subsidiary, ERA Ecosystem Restoration Associates Inc., ERA produces significant, measurable carbon sequestration benefits that are validated and verified to international standards 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" (CERP) in the Lower Fraser Valley, near Vancouver, British Columbia. ERA is also developing projects in Africa, South America and the United States. ERA has generated ISO validated and verified EcoNeutral® carbon offsets from the CERP project to supply clients and offset users that include HSE-Entega, Rolling Stone Magazine, Catalyst Paper, Shell Canada Ltd., Air Canada, the Motion Pictures Producers Industry Association, and the Globe Foundation.

Additional information on ERA can be found on its corporate website at www.eracarbonoffsets.com or by contacting investor@eracarbonoffsets.com.

On behalf of the Board of Directors of
ERA CARBON OFFSETS LTD.
"Robert Falls"
Chief Executive Officer

FORWARD LOOKING STATEMENTS:  This document includes forward-looking statements as well as historical information. Forward-looking statements include, but are not limited to, the closing of the Company's private placement, continued advancement of the Company's general business development, research development and the Company's development of forest-based carbon offsets. When used in this document, the words "anticipate", "believe", "estimate", "expect", "intent", "may", "project", "plan", "should" and similar expressions may identify forward-looking statements. Although the Company believes that its expectations reflected in these forward looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements. Important factors that could cause actual results to differ from these forward-looking statements include failure to close the private placement, fluctuations in the marketplace for the sale of carbon credits, the inability to implement corporate strategies, the ability to obtain financing and other risks disclosed in our filings made with Canadian Securities Regulators.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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