Westway Group Special Committee Determines Unsolicited $6.00 Per Share Offer for Westway Group is Not in Best Interest of Stockholders; Special Committee Continues Review of Strategic Alternatives

Westway Group, Inc.

today announced that it received an unsolicited proposal from an infrastructure investment fund on December 18, 2011 to acquire Westway. The offer, which was made contingent upon the consummation of the previously announced proposed transaction to sell Westway Feed Products and certain non-core bulk liquid storage terminals, was for $6.00 per common share, $6.00 for each outstanding Series A Convertible Preferred Share and $1.00 for each outstanding Founder Warrant. As previously announced, the Company's Board of Directors has initiated a process to explore possible strategic alternatives for the Company as a whole, including alternatives for its Westway Terminals business and for its Westway Feed Products business and certain bulk liquid storage terminals, and has formed a special committee of independent directors to direct such process. The Special Committee has retained Evercore Partners ("Evercore") as financial advisor to assist it during this process. The Special Committee has carefully reviewed the Offeror's unsolicited proposal with the assistance of Evercore and has determined that it substantially undervalues the Westway Terminals business and its future prospects and does not provide any basis to begin discussions or negotiations. The Special Committee has invited the Offeror to enter into a customary confidentiality agreement to permit the Offeror to see non-public information.