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ERA Carbon Offsets Ltd. (TSX VENTURE: ESR) (the “Company” or “ERA”), is pleased to announce that the private placement previously announced, October 14th 2009, will close on or about February 9th 2010. The private placement consists of 7,360,000 common shares at a price of CAD$0.75 per share for gross proceeds of CAD$5,520,000. The sole subscriber is Forest Carbon Group AG (“FCG”) an affiliate of HEAG Sudhessische Energie AG (“HSE”), a German energy and infrastructure company based in Darmstadt. Post-financing, FCG will own an aggregate of 7,360,000 shares which constitute 29.9% of the issued capital of the Company. No finder’s fee was paid in connection with the private placement.

On the closing of the private placement (the “Closing”) the Company will grant FCG:

1) the pre-emptive right to purchase up to 30% (subject to adjustment) of any equity financings that the Company may from time to time undertake (the “Right”); and

2) the right of first refusal (the “Right of First Refusal”) to provide such project financing as may be requested by the Company for forest carbon offset projects (the “ERA Projects”) and to purchase carbon offsets created from the ERA Projects. If the Company and FCG are unable to conclude an agreement with

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