Document:

<Page>

                                                                     Exhibit 4.2

                             ADVANCED BIOENERGY, LLC

                             SUBSCRIPTION AGREEMENT

                   Limited Liability Company Membership Units

                                 $10.00 PER UNIT

                   MINIMUM INVESTMENT OF 2,500 UNITS ($25,000)
                     100 UNIT INCREMENTS THEREAFTER ($1,000)

The undersigned subscriber, desiring to become a member of Advanced BioEnergy,
LLC ("Advanced BioEnergy"), a Delaware limited liability company, with its
principal place of business at 910 9th Street, Fairmont, Nebraska 68354, hereby
subscribes for the purchase of the membership interests of Advanced BioEnergy,
and agrees to pay the related purchase price, identified below.

A.   SUBSCRIBER INFORMATION. Please print your individual or entity name and
address. Joint subscribers should provide their respective names. Your name and
address will be recorded exactly as printed below.

   1.    Subscriber's Printed Name   ___________________________________________
   2.    Title, if applicable:       ___________________________________________
   3.    Subscriber's Address:
              Street                 ___________________________________________
              City, State, Zip Code  ___________________________________________
   4.    Email Address:              ___________________________________________

B.   NUMBER OF UNITS PURCHASED. You must purchase at least 250 units. We
presently have 634,650 units outstanding. The maximum number of units to be sold
is 6,732,500.

          _____________

C.   PURCHASE PRICE. Indicate the dollar amount of your investment (minimum
investment is $25,000).

<Table>
<Caption>
      1. Total Purchase Price         =            2. 1st Installment          +           3. 2nd Installment
         --------------------                         ---------------                         ---------------
<S>                                         <C>                                       <C>
($10.00 Per Unit multiplied by the          (10% of the Total Purchase Price)         (90% of the Total Purchase
number in box B above.)                                                               Price)

____________________________________    =   _________________________________    +    _____________________________
</Table>

D.   GENERAL INSTRUCTIONS FOR SUBSCRIBERS:

You should read the Prospectus dated [DATE OF EFFECTIVENESS] (the "Prospectus")
in its entirety including exhibits for a complete explanation of an investment
in Advanced BioEnergy, LLC. To subscribe, you must:

INSTRUCTIONS IF YOU ARE SUBSCRIBING PRIOR TO THE COMPANY'S RELEASE OF FUNDS FROM
ESCROW: If you are subscribing prior to the Company's release of funds from
escrow, you must follow Steps 1 through 5 below:

     1.   Complete all information required in this Subscription Agreement, and
date and sign the Subscription Agreement on page 6 and the Member Signature Page
to our Amended and Restated Operating Agreement attached to this Subscription
Agreement as Exhibit A.

                                        1
<Page>

     2.   Immediately provide your personal (or business) check for the first
installment of ten percent (10%) of your investment amount made payable to
Geneva State Bank, escrow agent for Advanced BioEnergy LLC. You will determine
this amount in box C.2 on page 1 of this Subscription Agreement.

     3.   Execute the Promissory Note and Security Agreement on page 7 of this
Subscription Agreement evidencing your commitment to pay the remaining ninety
percent (90%) due for the Units that is attached to this Subscription Agreement
and grant Advanced BioEnergy, LLC a security interest in your Units.

     4.   Deliver each of the original executed documents referenced in Items 1
and 3 of these Instructions, together with your personal or business check
described in Item 2 of these Instructions to either of the following:

          Advanced BioEnergy, LLC            Geneva State Bank
          910 9th Street                     Attn:  Aaron Schardt
          Fairmont, Nebraska 68354           896 "G" Street
                                             Geneva, Nebraska  68361

     5.   Upon written notice from Advanced BioEnergy, LLC stating that its
sales of Units have exceeded the Minimum Offering amount of $33,662,500, you
must, within twenty (20) days secure an additional personal (or business) check
for the second installment of ninety percent (90%) of your investment amount
made payable to Geneva State Bank, escrow agent for Advanced BioEnergy, LLC in
satisfaction of the Promissory Note and Security Agreement. You will determine
this amount in box C.3 on page 1 of this Subscription Agreement. You must
deliver this check to the same address set forth above in Instruction 4 within
twenty (20) days of the date of Advanced BioEnergy's written notice. If you fail
to pay the second installment pursuant to the Promissory Note and Security
Agreement, Advanced BioEnergy shall be entitled to retain your first installment
and to seek other damages, as provided in the Promissory Note and Security
Agreement.

Your funds will be placed in Advanced BioEnergy's escrow account at Geneva State
Bank. The funds will be released to Advanced BioEnergy or returned to you in
accordance with the escrow arrangements described in the Prospectus. Advanced
BioEnergy may, in its sole discretion, reject or accept any part or all of your
subscription. If Advanced BioEnergy rejects your subscription, your Subscription
Agreement and investment will be promptly returned to you, plus nominal
interest, minus escrow fees. Advanced BioEnergy may not consider the acceptance
or rejection of your subscription until a future date near the end of this
offering.

INSTRUCTIONS IF YOU ARE SUBSCRIBING AFTER THE COMPANY'S RELEASE OF FUNDS FROM
ESCROW: If you are subscribing after the Company's release of funds from escrow,
you must follow Steps 1 through 3 below:

     1.   Complete all information required in this Subscription Agreement, and
date and sign the Subscription Agreement on page 6 and the Member Signature Page
to our Amended and Restated Operating Agreement attached to this Subscription
Agreement as Exhibit A.

     2.   Immediately provide your personal (or business) check for the entire
amount of your investment (as determined in Box C.1 on page 1) made payable to
"ADVANCED BIOENERGY, LLC."

     3.   Deliver the original executed documents referenced in Item 1 of these
Instructions, together with your personal or business check described in Item 2
of these Instructions to the following:

                      Advanced BioEnergy, LLC
                      910 9th Street
                      Fairmont, Nebraska 68354

     If you are subscribing after we have released funds from escrow and we
accept your investment, your funds will be immediately at-risk as described in
the Prospectus. Advanced BioEnergy may, in its sole discretion, reject or accept
any part or all of your subscription. If Advanced BioEnergy rejects your
subscription, your Subscription Agreement and investment will be returned to you
promptly, plus nominal interest, minus escrow fees. Advanced BioEnergy may not
consider the acceptance or rejection of your subscription until a future date
near the end of this offering.

                                        2
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YOU MAY DIRECT YOUR QUESTIONS TO ONE OF OUR DIRECTORS LISTED BELOW OR TO
ADVANCED BIOENERGY AT 402-268-3101.

<Table>
<Caption>
                       Director             Phone Number
                       --------             ------------
                  <S>                       <C>
                  John T. Porter            402-432-5247

                  Troy Otte                 402-362-3885

                  John E. Lovegrove         402-366-4484

                  Robert E. Bettger         402-268-3101

                  Larry L. Cerny            402-759-1165

                  Richard W. Hughes         402-759-4615

                  Keith E. Spohn            402-947-8061
</Table>

E.   ADDITIONAL SUBSCRIBER INFORMATION. The subscriber, named above, certifies
the following under penalties of perjury:

     1.   FORM OF OWNERSHIP. Check the appropriate box (one only) to indicate
          form of ownership. If the subscriber is a Custodian, Corporation,
          Partnership or Trust, please provide the additional information
          requested.

          / /  Individual
          / /  Joint Tenants with Right of Survivorship (Both signatures must
               appear on Page 6.)
          / /  Corporation, Limited Liability Company or Partnership (Corporate
               Resolutions, Operating Agreement or Partnership Agreement must be
               enclosed.)
          / /  Trust
                  Trustee's Name:__________________________________________
                  Trust Date:______________________________________________
          / /  Other: Provide detailed information in the space immediately
               below.
               ____________________________________________________________
               ____________________________________________________________
               ____________________________________________________________

     2.   SUBSCRIBER'S TAXPAYER INFORMATION. Check the appropriate box if you
          are a non-resident alien, a U.S. Citizen residing outside the United
          States or subject to backup withholding. Trusts should provide their
          taxpayer identification number. Custodians should provide the minor's
          Social Security Number. All individual subscribers should provide
          their Social Security Number. Other entities should provide their
          taxpayer identification number.

          / /  Check box if you are a non-resident alien
          / /  Check box if you are a U.S. citizen residing outside of the
               United States
          / /  Check this box if you are subject to backup withholding

          Subscriber's Social Security No.         ________________________
          Joint Subscriber's Social Security No    ________________________
          Taxpayer Identification No.              ________________________

     3.   MEMBER REPORT ADDRESS. If you would like duplicate copies of member
          reports sent to an address that is different than the address
          identified in section A, please complete this section.

          Address:     _______________________________________
                       _______________________________________

     4.   STATE OF RESIDENCE.

                                        3
<Page>

          State of Principal Residence:                ____________________
          State where driver's license is issued:      ____________________
          State where resident income taxes are filed: ____________________

          State(s) in which you have maintained your principal residence during
          the past three years:

<Table>
          <S>                    <C>                    <C>
          a                      b.                     c.
</Table>

     5.   SUITABILITY STANDARDS. You cannot invest in Advanced BioEnergy unless
          you meet one, or more, of the following suitability tests (a, b, or c)
          set forth below. Please review the suitability tests and check the
          box(es) next to the following suitability test that you meet. For
          husbands and wives purchasing jointly, the tests below will be applied
          on a joint basis.

          a.      I (We) are "Producers" as defined hereunder. For purposes of
                  this Subscription Agreement, a "Producer" is defined as a
                  person who is ONE of the following:

                  / /  A natural person or a fiduciary of a natural person who
                       regularly participates in physical labor, operations or
                       management in a farming operation and files Schedule F as
                       part of the person's annual income tax return.

                  / /  A person who owns at least 150 acres of agricultural land
                       and receives as rent a share of the crops or the animals
                       raised on the land.

                  / /  A duly authorized officer of a family farm corporation,
                       member or manager of a family farm limited liability
                       company, general manager of a family farm limited
                       partnership or trustee of a family trust actively engaged
                       in farming.

                  / /  A general partnership in which all the partners are
                       natural persons actively engaged in farming;

          b. / /  I (We) have annual income from whatever source of at least
                  $45,000 AND a net worth of at least $45,000, exclusive of
                  home, furnishings and automobiles; or

          c. / /  I (We) have a net worth of at least $100,000, exclusive of
                  home, furnishings and automobiles.

     6.   SUBSCRIBER'S REPRESENTATIONS AND WARRANTIES. You must read and certify
          your representations and warranties and sign and date this
          Subscription Agreement.

          By signing below the subscriber represents and warrants to Advanced
          BioEnergy that he, she or it:

          a.   has received a copy of Advanced BioEnergy's Prospectus dated
               __________ and the exhibits thereto;
          b.   has been informed that the Units of Advanced BioEnergy are
               offered and sold in reliance upon a federal securities
               registration; Nebraska, South Dakota, Iowa, Texas and Florida
               securities registrations; and exemptions from securities
               registrations in various other states, and understands that the
               Units to be issued pursuant to this subscription agreement can
               only be sold to a person meeting requirements of suitability;
          c.   has been informed that the securities purchased pursuant to this
               Subscription Agreement have not been registered under the
               securities laws of any state other than the States of Nebraska,
               South Dakota, Iowa, Texas and Florida, and that Advanced
               BioEnergy is relying in part upon the representations of the
               undersigned Subscriber contained herein;
          d.   has been informed that the securities subscribed for have not
               been approved or disapproved by the Nebraska, South Dakota, Iowa,
               Texas and Florida Securities Departments or any other regulatory
               authority, nor has any regulatory authority passed upon the
               accuracy or adequacy of the Prospectus;
          e.   intends to acquire the Units for his/her/its own account without
               a view to public distribution or resale and that he/she/it has no
               contract, undertaking, agreement or arrangement to sell or
               otherwise transfer or dispose of any Units or any portion thereof
               to any other person;

                                        4
<Page>

          f.   understands that there is no present market for Advanced
               BioEnergy's membership units, that the membership units will not
               trade on an exchange or automatic quotation system, that no such
               market is expected to develop in the future and that there are
               significant restrictions on the transferability of the membership
               units;
          g.   has been encouraged to rely upon the advice of his legal counsel
               and accountants or other financial advisers with respect to the
               tax and other considerations relating to the purchase of units;
          h.   has received a copy of the Advanced BioEnergy Operating
               Agreement, dated February 18, 2005, and understands that upon
               closing the escrow by Advanced BioEnergy, the subscriber and the
               membership units will be bound by the provisions of the Operating
               Agreement which contains, among other things, provisions that
               restrict the transfer of membership units;
          i.   understands that the Units are subject to substantial
               restrictions on transfer under state securities laws along with
               restrictions in the Advanced BioEnergy Operating Agreement and
               agrees that if the membership units or any part thereof are sold
               or distributed in the future, the subscriber shall sell or
               distribute them pursuant to the terms of the Operating Agreement,
               and the requirements of the Securities Act of 1933, as amended,
               and applicable state securities laws;
          j.   meets the suitability test marked in Item 5 above and is capable
               of bearing the economic risk of this investment, including the
               possible total loss of the investment;
          k.   understands that Advanced BioEnergy will place a restrictive
               legend on any certificate representing any unit containing
               substantially the following language as the same may be amended
               by the Directors of Advanced BioEnergy in their sole discretion:

                  THE TRANSFERABILITY OF THE UNITS REPRESENTED BY THIS
                  CERTIFICATE IS RESTRICTED. SUCH UNITS MAY NOT BE SOLD,
                  ASSIGNED, OR TRANSFERRED, NOR WILL ANY ASSIGNEE, VENDEE,
                  TRANSFEREE, OR ENDORSEE THEREOF BE RECOGNIZED AS HAVING
                  ACQUIRED ANY SUCH UNITS FOR ANY PURPOSES, UNLESS AND TO THE
                  EXTENT SUCH SALE, TRANSFER, HYPOTHECATION, OR ASSIGNMENT IS
                  PERMITTED BY, AND IS COMPLETED IN STRICT ACCORDANCE WITH,
                  APPLICABLE STATE AND FEDERAL LAW AND THE TERMS AND CONDITIONS
                  SET FORTH IN THE AMENDED AND RESTATED OPERATING AGREEMENT AS
                  AGREED TO BY EACH MEMBER.

                  THE SECURITIES REPRESENTED BY THIS CERTIFICATE MAY NOT BE
                  SOLD, OFFERED FOR SALE, OR TRANSFERRED IN THE ABSENCE OF
                  EITHER AN EFFECTIVE REGISTRATION UNDER THE SECURITIES ACT OF
                  1933, AS AMENDED, AND UNDER APPLICABLE STATE SECURITIES LAWS,
                  OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT SUCH
                  TRANSACTION IS EXEMPT FROM REGISTRATION UNDER THE SECURITIES
                  ACT OF 1933, AS AMENDED, AND UNDER APPLICABLE STATE SECURITIES
                  LAWS.

          l.   understands that, to enforce the above legend, Advanced BioEnergy
               may place a stop transfer order with its registrar and stock
               transfer agent (if any) covering all certificates representing
               any of the membership units;
          m.   has knowledge and experience in business and financial matters as
               to be able to evaluate the merits and risks of an investment in
               the Units, believes that the investment in Units is suitable for
               the subscriber and can bear the economic risk of the purchase of
               Units including the total loss of the undersigned's investment;
          n.   may not transfer or assign this subscription agreement, or any of
               the subscriber's interest herein;
          o.   has written his, her, or its correct taxpayer identification
               number under Item 3 on this subscription agreement;
          p.   is not subject to back up withholding either because he, she or
               it has not been notified by the Internal Revenue Service ("IRS")
               that he, she or it is subject to backup withholding as a result
               of a failure to report all interest or dividends, or the IRS has
               notified him, her or it that he is no longer subject to backup
               withholding (Note this clause (p) should be crossed out if the
               backup withholding box in Item 2 is checked);

                                        5
<Page>

          q.   understands that execution of the attached Promissory Note and
               Security Agreement will allow Advanced BioEnergy or its assigns
               to pursue the obligor for payment of the amount due thereon by
               any legal means, including, but not limited to, acquisition of a
               judgment against the obligor in the event that the subscriber
               defaults on that Promissory Note and Security Agreement; and
          r.   Acknowledges that Advanced BioEnergy may retain possession of
               certificates representing subscriber's Units to perfect its
               security interest in those Units.

SIGNATURE OF SUBSCRIBER/JOINT SUBSCRIBER:

DATE:
          -----------------------------------

<Table>
<Caption>
INDIVIDUALS:                                                  ENTITIES:
     <S>                                                      <C>

-------------------------------------------------------       ---------------------------------------
     Name of Individual Subscriber (Please Print)             Name of Entity (Please Print)

-------------------------------------------------------       ---------------------------------------
     Signature of Individual                                  Print Name and Title of Officer

-------------------------------------------------------       ---------------------------------------
     Name of Joint Individual Subscriber (Please Print)       Signature of Officer

-------------------------------------------------------
     Signature of Joint Individual Subscriber
</Table>

ACCEPTANCE OF SUBSCRIPTION BY ADVANCED BIOENERGY, LLC:

Advanced BioEnergy, LLC hereby accepts the subscription for the above Units.

Dated this_________day of________________________, 200____.

ADVANCED BIOENERGY, LLC

By:
    ----------------------------------------------------

Its:
    ----------------------------------------------------

                                        6
<Page>

                     PROMISSORY NOTE AND SECURITY AGREEMENT

Date of Subscription Agreement: ___________________________________, 200__.
                                          $10.00 PER UNIT

        MINIMUM INVESTMENT OF 2,500 UNITS ($25,000), 100 UNIT INCREMENTS
                               THEREAFTER ($1,000)

_______________ Number of Units subscribed

_______________ Total Purchase Price ($10.00 per Unit multiplied by number of
Units subscribed)

___(________)__ Less Initial Payment (10% of Principal Amount)

_______________ Principal Balance

FOR VALUE RECEIVED, the undersigned hereby promises to pay to the order of
Advanced BioEnergy, LLC, a Delaware limited liability company ("Advanced
BioEnergy"), at its principal office located 910 9th Street, Fairmont, Nebraska
68354, or at such other place as required by Advanced BioEnergy, the Principal
Balance set forth above in one lump sum to be paid without interest within 20
days following the call of the Advanced BioEnergy Board of Directors, as
described in the Subscription Agreement. In the event the undersigned fails to
timely make any payment owed, the entire balance of any amounts due under this
full recourse Promissory Note and Security Agreement shall be immediately due
and payable in full with interest at the rate of 12% per annum from the due date
and any amounts previously paid in relation to the obligation evidenced by this
Promissory Note and Security Agreement may be forfeited at the discretion of
Advanced BioEnergy.

The undersigned agrees to pay to Advanced BioEnergy on demand, all costs and
expenses incurred to collect any indebtedness evidenced by this Promissory Note
and Security Agreement, including, without limitation, reasonable attorneys'
fees. This Promissory Note and Security Agreement may not be modified orally and
shall in all respects be governed by, construed, and enforced in accordance with
the laws of the State of Delaware.

The provisions of this Promissory Note and Security Agreement shall inure to the
benefit of Advanced BioEnergy and its successors and assigns, which expressly
reserves the right to pursue the undersigned for payment of the amount due
thereon by any legal means in the event that the undersigned defaults on
obligations provided in this Promissory Note and Security Agreement.

The undersigned waives presentment, demand for payment, notice of dishonor,
notice of protest, and all other notices or demands in connection with the
delivery, acceptance, performance or default of this Promissory Note and
Security Agreement.

The undersigned grants to Advanced BioEnergy, and its successors and assigns
("Secured Party"), a purchase money security interest in all of the
undersigned's Membership Units of Advanced BioEnergy now owned or hereafter
acquired. This security interest is granted as non-exclusive collateral to
secure payment and performance on the obligation owed Secured Party from the
undersigned evidenced by this Promissory Note and Security Agreement. The
undersigned further authorizes Secured Party to retain possession of
certificates representing such Membership Units and to take any other actions
necessary to perfect the security interest granted herein.

Dated:      , 200  .

<Table>
<Caption>
OBLIGOR/DEBTOR:                             JOINT OBLIGOR/DEBTOR:
<S>                                         <C>

-----------------------------------------   ------------------------------------
Printed or Typed Name of Joint Obligor      Printed or Typed Name of Obligor

By:                                         By:
    -------------------------------------       --------------------------------
    (Signature)                                 (Signature)

-----------------------------------------
Officer Title if Obligor is an Entity

-----------------------------------------

-----------------------------------------
</Table>

                                        7
<Page>

Address of Obligor

                                   EXHIBIT "A"

                              MEMBER SIGNATURE PAGE

                                 ADDENDA TO THE
              AMENDED AND RESTATED OPERATING AGREEMENT OF ADVANCED
                                 BIOENERGY, LLC

     The undersigned does hereby represent and warrant that the undersigned, as
a condition to becoming a Member in Advanced BioEnergy, LLC, has received a copy
of the Amended and Restated Operating Agreement dated May 19, 2005, and, if
applicable, all amendments and modifications thereto, and does hereby agree that
the undersigned, along with the other parties to the Amended and Restated
Operating Agreement, shall be subject to and comply with all terms and
conditions of said Amended and Restated Operating Agreement in all respects as
if the undersigned had executed said Amended and Restated Operating Agreement on
the original date thereof and that the undersigned is and shall be bound by all
of the provisions of said Amended and Restated Operating Agreement from and
after the date of execution hereof.

<Table>
<Caption>
INDIVIDUALS:                                    ENTITIES:
<S>                                                           <C>

--------------------------------------------------    ---------------------------------------
Name of Individual Member (Please Print)              Name of Entity (Please Print)

--------------------------------------------------    ---------------------------------------
Signature of Individual                               Print Name and Title of Officer

--------------------------------------------------    ---------------------------------------
Name of Joint Individual Member (Please Print)        Signature of Officer

--------------------------------------------------
Signature of Joint Individual Member
</Table>

AGREED AND ACCEPTED ON BEHALF OF THE
COMPANY AND ITS MEMBERS:

ADVANCED BIOENERGY, LLC

By:
    ----------------------------------------------

Its:
    ----------------------------------------------

                                        8<Page>

                                                                     Exhibit 4.3

                                ESCROW AGREEMENT

     This Escrow Agreement (the "Agreement") dated as of May ____, 2005 is by
and between, Advanced BioEnergy, LLC, a Delaware limited liability company (the
"Company") and the Geneva State Bank (the "Escrow Agent"), (the "Escrow Agent"
and the "Company" may also be hereinafter referred to as the "Parties").

                                    RECITALS

     WHEREAS, the Company proposes to offer a minimum of 3,366,250 and a maximum
of 6,732,500 of its Membership Units (the "Units") at a price of $10.00 per
Unit, with a required minimum investment of 2500 Units and in additional
increments of 100 Units, in an offering in the States of Nebraska, Iowa, South
Dakota, Texas, Wisconsin, Kansas and Florida, and possibly other states, made
pursuant to a federal registration under the provisions of the Securities Act of
1933, as amended (the "Offering");

     WHEREAS, the Company will file a registration statement (as may be amended)
(the "Registration Statement") to register the Units with the Securities and
Exchange Commission, the States of Nebraska, Iowa, South Dakota, Texas,
Wisconsin, Kansas and Florida and possibly other states;

     WHEREAS, the Company will allow investors in the Offering to deliver the
purchase price of the subscribed Units in installments;

     WHEREAS, the Company desires to comply with the requirements of the
Securities Act of 1933 and of the various state regulatory statutes and
regulations, and desires to protect the investors in the Offering by providing,
under the terms and conditions herein set forth, for the return to subscribers
of the money which they may pay on account of purchases of Units in the Offering
if the Minimum Escrow Deposit (hereinafter defined) is not deposited with the
Escrow Agent; and

     NOW, THEREFORE, in consideration of the premises the Parties agree as
follows:

1.   ACCEPTANCE OF APPOINTMENT: Escrow Agent hereby agrees to act as escrow
agent under this Agreement. The Escrow Agent shall have no duty to enforce any
provision hereof requiring performance by any other party hereunder.

2.   ESTABLISHMENT OF ESCROW ACCOUNT: An escrow account (the "Escrow Account")
is hereby established with the Escrow Agent for the benefit of the investors in
the Offering. Except as specifically provided in this Agreement, the Escrow
Account shall be created and maintained subject to the customary rules and
regulations of the Escrow Agent pertaining to such accounts.

                                        1
<Page>

3.   OWNERSHIP OF ESCROW ACCOUNT: Until such time as the funds deposited in the
Escrow Account (the "Deposited Funds") shall equal the Minimum Escrow Deposit
(as hereinafter defined), all funds deposited in the Escrow Account by the
Company shall not become the property of the Company or be subject to the debts
of the Company or any other person but shall be held by the Escrow Agent solely
for the benefit of the investors who have purchased Units in the Offering.

4.   ESCROW FEES: The Company hereby agrees to pay to the Escrow Agent upon the
execution of this Agreement an advance payment for ordinary services rendered
hereunder in the amount of $2,500 (the "Escrow Fee"). Thereafter, Company shall
pay to Escrow Agent a monthly maintenance fee payable on the last day of each
month during the term of this Agreement in the amount of 1/4800 times the
average monthly balance of the Escrow Account, which monthly maintenance fees
shall be paid from the interest on the Escrow Account only and not from
principal.

5.   DEPOSIT OF PROCEEDS: All proceeds from sales of Units in the Offering shall
be delivered by the Company to the Escrow Agent, within forty-eight hours of the
receipt thereof from investors, endorsed (if appropriate) to the order of the
Escrow Agent, together with an appropriate written statement setting forth the
name, address and social security number/taxpayer identification number of each
person or entity purchasing Units, the number of Units purchased, and the amount
paid by each such purchaser. Any such proceeds deposited with the Escrow Agent
in the form of uncollected checks shall be promptly presented by the Escrow
Agent for collection through customary banking and clearing house facilities. As
the proceeds of each sale are deposited with the Escrow Agent, the Company shall
reserve the number of Units confirmed to the purchaser thereof in connection
with such sale. All such deposited proceeds are referred to herein as the
"Escrow Funds."

6.   INVESTMENT OF ESCROW FUNDS: The Escrow Funds shall be credited by Escrow
Agent and recorded in the Escrow Account. The Escrow Agent shall be permitted,
and is hereby authorized to deposit transfer, hold and invest all funds received
under this Agreement, including principal and interest, in Vanguard Admiral
Treasury Money Market Fund (Cusip 921932109 - Symbol VUSXX), with the Company to
pay all transactional costs (third party commissions, brokerage fees, or the
like) associated with said investment. Any interest received by Escrow Agent
with respect to the Escrow Funds shall be paid pursuant to the terms of this
Agreement.

7.   TERMINATION OF ESCROW: This Agreement and the Escrow created hereunder
shall be terminated as provided in paragraph 8 hereof or as of the date in
calendar year 2006 (the "Termination Date") one year and one day following the
date in calendar year 2005 upon which the Securities and Exchange Commission
authorizes the Offering (the "Offering's Effective Date"), provided; however,
that if prior to Termination Date, the Company has sold membership units equal
to the minimum offering amount and the Company has advised the purchasers of
those membership units to remit to the Escrow Agent the balance of the purchase
price, then the Escrow may continue beyond the Termination Date until all Funds
have been paid and the conditions for releasing the Funds have been satisfied.
In no event shall this date be later than three (3) months

                                        2
<Page>

following the Termination Date. The Company shall notify Escrow Agent of the
Offering's Effective Date within thirty (30) days of the receipt of notice of
the Offering's Effective Date from the Securities and Exchange Commission.

8.   DISPOSITION OF ESCROW FUNDS: The Escrow Agent shall have the following
duties and obligations under this Agreement:

     A.   The Escrow Agent shall send a written notice acknowledging the receipt
of the Deposited Funds every seven days to the Company.

     B.   The Escrow Agent shall give the Company prompt written notice when the
Deposited Funds equal $3,366,250 (exclusive of interest). Following receipt of
such notice, the Company will advise the purchasers of Units to remit to the
Escrow Agent the balance of the purchase price within twenty (20) days.
Thereafter, Escrow Agent shall give the Company written notice acknowledging the
receipt of the Deposited Funds every seven days. The Escrow Agent shall give the
Company prompt written notice when the Deposited Funds total $33,662,500
(exclusive of interest).

     C.   At the time (and in the event) that: (a) the Deposited Funds shall,
during the term of this Agreement, equal $33,662,500 in subscription proceeds
(exclusive of interest) (the "Minimum Escrow Deposit"); (b) the Escrow Agent
shall have received written confirmation from the Company that the Company has
obtained a written debt financing commitment for debt financing ranging from a
minimum of $67,325,000 to a maximum of $100,987,500; (c) the Company has
affirmatively elected in writing to terminate this Agreement; and (d) the Escrow
Agent shall have provided the Company an affidavit that the Company may file in
the states in which the Units have been registered stating that the foregoing
requirements (a), (b) and (c) of this subsection 8C have been satisfied, then
this Agreement shall terminate, and the Escrow Agent shall promptly disburse the
funds on deposit, including interest, to the Company to be used in accordance
with the provisions set out in the Registration Statement. The Company will
deliver a copy of the Registration Statement to the Escrow Agent upon execution
of this Agreement. The Escrow Agent will have no responsibility to examine the
Registration Statement with regard to the Escrow Account or otherwise, nor shall
Escrow Agent have any duty to ensure that Company complies with the Registration
Statement. Upon the making of such disbursement, the Escrow Agent shall be
completely discharged and released of any and all further responsibilities
hereunder.

     D.   In the event the Deposited Funds do not equal or exceed the Minimum
Escrow Deposit on or before the Termination Date or if the Company has not
received a written debt financing commitment as described herein on or before
the Termination Date, the Escrow Agent shall return to each of the purchasers of
the Units in the Offering, as promptly as possible after such Termination Date
and on the basis of its records pertaining to the Escrow Account: (a) the sum
which each purchaser initially paid in on account of purchases of the Units in
the Offering and (b) each purchaser's portion of the total interest earned on
the Escrow Account as of the Termination Date, (c) reduced by the transaction
fees provided in paragraph 10 hereof. Computation of any

                                        3
<Page>

purchaser's share of the net interest earned will be a weighted average based on
the proportion of such purchaser's deposit in the Escrow Account from the
Offering to all such purchasers' deposits held by the Escrow Agent and upon the
length of time in days such deposit was held in the Escrow Account as compared
to all such deposits. All computations with respect to each purchaser's
allocable share of net interest shall be made by the Escrow Agent, which
determinations shall be final and conclusive. Any amount paid or payable to a
purchaser pursuant to this paragraph shall be deemed to be the property of such
purchaser, free and clear of any and all claims of the Company or its agents or
creditors; and the respective purchases of the Units made and entered into in
the Offering shall thereupon be deemed, ipso facto, to be cancelled without any
further liability of the purchasers or any of them to pay for the Units
purchased. At such time as the Escrow Agent shall have made all the payments
called for in this paragraph, the Escrow Agent shall be completely discharged
and released of any and all further responsibilities hereunder, and the Units
reserved (as provided in paragraph 5) shall be released from such reservation,
except that Escrow Agent shall be required to prepare and issue a single IRS
Form 1099 to each investor in the event that funds are returned to investors.

9.   LIABILITY OF ESCROW AGENT: It is understood and agreed that the duties of
the Escrow Agent are purely ministerial in nature. It is further agreed that:

     A.   The Escrow Agent shall not be required to enforce any of the terms or
conditions of any other agreement between the Company and any prospective
purchaser or purchaser, nor shall the Escrow Agent be responsible for the
performance by the Company of its respective obligations under this Agreement.

     B.   The Escrow Agent may, at its own discretion, refuse to accept any
deposits lacking required documentation or containing discrepancies.

     C.   The Escrow Agent shall be under no duty collect any check or other
payment instrument delivered to it hereunder that is dishonored, but the Escrow
Agent shall within a reasonable time return to the Company any such check or
other payment instrument together with any information which accompanied such
check, draft or other payment instrument. The Company shall have the right to
obtain a replacement check for any dishonored check or payment instrument even
if the Subscription Period shall have ended, but not later than the tenth (10th)
business day after the end of the Subscription Period.

     D.   The Escrow Agent shall have the right to act in reliance upon any
document, instrument or signature believed by it to be genuine and to assume
that any person purporting to give any notice or instructions in accordance with
this Agreement or in connection with any transaction to which this Agreement
relates has been duly authorized to do so. The Escrow Agent shall not be
obligated to make any inquiry as to the authority, capacity, existence or
identity of any person purporting to give any such notice or instructions.

                                        4
<Page>

     E.   The Escrow Agent shall not be liable for any action taken or omitted
hereunder except in the case of its gross negligence or willful misconduct. The
Escrow Agent shall be entitled to consult with counsel of its own choosing and
shall not be liable for any action taken, suffered or omitted by it in
accordance with the advice of such counsel.

     F.   The Escrow Agent shall have no responsibility at any time to ascertain
whether or not any security interest exists in the Escrow Account or any part
thereof or to file any financing statement under the Uniform Commercial Code
with respect to the Escrow Account or any part thereof.

10.  WARRANTIES TO ESCROW AGENT: The Company warrants to and agrees with the
Escrow Agent that, unless otherwise expressly set forth in this Agreement, the
Company has not granted to any party any lien, claim or security interest in the
Escrow Account or any part thereof and has no direct knowledge of any financing
statement under the Uniform Commercial Code on file in any jurisdiction claiming
a security interest in or describing (whether specially or generally) the Escrow
Account or any part thereof.

11.  FEES AND EXPENSES: In the event the Deposited Funds do not equal or exceed
the Minimum Escrow Deposit before the Termination Date or the Company does not
receive a written debt financing commitment as described herein before the
Termination Date, the Escrow Agent shall be entitled to a fee of $75 per
purchaser, which fees shall be paid from the interest on the Escrow Account only
and not from principal. In the event the Escrow Agent renders any service not
provided for in this Agreement, or if the Company requests a substantial
modification of its terms, or if any controversy arises, or if the Escrow Agent
is made a party to, or intervenes in, any litigation pertaining to this escrow
or its subject matter, the Escrow Agent shall be reasonably compensated for such
extraordinary services and reimbursed for all costs, attorney's fees, including
allocated costs of in-house counsel, and expenses occasioned by such default,
delay, controversy or litigation and the Escrow Agent shall have the right to
retain all documents and/or other things of value at any time held by the Escrow
Agent in this escrow until such compensation, fees, costs and expenses are paid.
The Company promises to pay these sums upon demand. Unless otherwise provided,
the Company will pay all of the Escrow Agent's usual charges and the Escrow
Agent may deduct such sums from the interest on the Escrow Account only and not
from principal deposited to the Escrow Account.

12.  CONTROVERSIES: If any controversy arises between the Parties to this
Agreement, or with any other Party, concerning the subject matter of this
Agreement, its terms or conditions, the Escrow Agent will not be required to
determine the controversy or to take any action regarding it. The Escrow Agent
may hold all documents and funds and may wait for settlement of any such
controversy by final appropriate legal proceedings or other means as, in the
Escrow Agent's discretion, the Escrow Agent may require, despite what may be set
forth elsewhere in this Agreement. In such event, the Escrow Agent will not be
liable for interest or damage. Furthermore, the Escrow Agent may at its option
file an action of interpleader requiring the Parties to answer and litigate any
claims and rights among themselves. The Escrow Agent is

                                        5
<Page>

authorized to deposit with the clerk of the court all documents and funds held
in escrow, except all costs, expenses, charges and reasonable attorney fees
incurred by the Escrow Agent due to the interpleader action and which the
Company agrees to pay. Upon initiating such action, the Escrow Agent shall be
fully released and discharged of and from all obligations and liability imposed
by the terms of this Agreement.

13.  INDEMNIFICATION OF ESCROW AGENT: The Company and its successors and assigns
agree jointly and severally to indemnify and hold the Escrow Agent harmless
against any and all losses, claims, damages, liabilities, and expenses,
including reasonable costs of investigation, counsel fees, including allocated
costs of in-house counsel and disbursements that may be imposed on the Escrow
Agent or incurred by the Escrow Agent in connection with the performance of its
duties under this Agreement, including but not limited to any litigation arising
from this Agreement or involving its subject matter. The Escrow Agent shall have
a first lien on the property and papers held under this Agreement for such
compensation and expenses.

14.  RESIGNATION OF ESCROW AGENT: The Escrow Agent may resign at any time upon
giving at least (30) days written notice to the Company provided, however, that
no such resignation shall become effective until the appointment of a successor
escrow agent which shall be accomplished as follows: The Company shall use its
best efforts to obtain a successor escrow agent within thirty (30) days after
receiving such notice. If the Company fails to agree upon a successor escrow
agent within such time, the Escrow Agent shall have the right to appoint a
successor escrow agent authorized to do business in the state of Nebraska. The
successor escrow agent shall execute and deliver an instrument accepting such
appointment and it shall without further acts, be vested with all the estates,
properties, rights, powers, and duties of the predecessor escrow agent as if
originally named as escrow agent. The Escrow Agent shall thereupon be discharged
from any further duties and liability under this Agreement.

15.  AUTOMATIC SUCCESSION: Any company into which the Escrow Agent may be merged
or with which it may be consolidated, or any company to whom the Escrow Agent
may transfer a substantial amount of its global escrow business, shall be the
Successor to the Agent without the execution or filing of any paper or any
further act on the part of any of the Parties, anything herein to the contrary
notwithstanding.

16.  MISCELLANEOUS:

     (a) GOVERNING LAWS: This Agreement is to be construed and interpreted
according to Nebraska law.

     (b) COUNTERPART: This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument. The exchange of copies of
this Agreement and of signature pages by facsimile transmission shall constitute
effective execution and delivery of this Agreement as to the parties

                                        6
<Page>

and may be used in lieu of the original Agreement for all purposes. Signatures
of the parties transmitted by facsimile shall be deemed to be their original
signatures for all purposes.

     (c) NOTICES: All instructions, notices and demands herein provided for
shall be in writing and shall be deemed to have been duly given (a) on the date
of service if served personally on the party to whom notice is to be given; (b)
on the day of transmission if sent by facsimile transmission to the facsimile
number given below and telephonic confirmation of receipt is promptly obtained
after completion of transmission; (c) on the next day on which such deliveries
are made in Omaha, Nebraska, when delivery is to Federal Express or similar
overnight courier or the Express Mail service maintained by the United States
Postal Service; or (d) on the fifth day after mailing if mailed to the party to
whom notice is to be given, by first class mail, registered or certified,
postage prepaid and properly addressed, return receipt requested, to the party
as follows:

If to the Company:                            If to the Escrow Agent:

Advanced BioEnergy, LLC                       Geneva State Bank
Attn:  Robert E. Bettger                      Attn:  Aaron Schardt
910 9th Street                                896 "G" Street
Fairmont, NE 68354                            Geneva, NE 68361
Fax: (402) 268-4811                           Fax: (402) 759-3837
Telephone: (402) 268-3101                     Telephone: (402) 759-3114

With a required copy to:

Brown, Winick, Graves, Gross, Baskerville     Cline Williams Wright Johnson &
and Schoenebaum, P.L.C.                       Oldfather, LLP
666 Grand Avenue, Suite 2000                  233 So. 13 St., Suite 1900
Des Moines, IA  50309                         Lincoln, NE 68508-2095
Attention: Miranda L. Hughes                  Attention: Richard P. Garden, Jr.
Fax:  (515) 283-0231                          Fax: (402) 474-5393
Telephone: (515) 242-2400                     Telephone: (402) 474-6900

     (d)  AMENDMENTS: This Agreement may be amended or modified and any of the
terms, covenants, representations, warranties or conditions hereof may be
waived, only by a written instrument executed by the parties hereto, or in the
case of a waiver, by the party waiving compliance. Any waiver by any party of
any condition or of the breach of any provision, term, covenant, representation
or warranty contained in the Agreement, in any one or more instances, shall not
be deemed to be nor construed as further or continuing waiver of any such
conditions or of the breach of any other provision, term, covenant,
representation or warranty of this Agreement.

                                        7
<Page>

     (e)  ENTIRE AGREEMENT: This Agreement contains the entire understanding
among the parties hereto with respect to the escrow contemplated hereby and
supersedes and replaces all prior and contemporaneous agreements and
understandings, oral or written, with regard to such escrow.

     (f)  NON-ENDORSEMENT: The Company represents and agrees that it has not
made nor will it in the future make any representation that states or implies
that the Escrow Agent has endorsed, recommended or guaranteed the purchase,
value, or repayment of the Securities offered for sale by the Company. The
Company further agrees that it will insert in any prospectus, offering circular,
advertisement, subscription agreement or other document made available to
prospective purchasers of the Securities the following statement in bold face
type: "Geneva State Bank is acting only as an escrow agent in connection with
the Offering described herein, and has not endorsed, recommended or guaranteed
the purchase, value or repayment of such Securities," and will furnish to the
Escrow Agent a copy of each such prospectus, offering circular, advertisement,
subscription agreement or other document at least 5 business days prior to its
distribution to prospective Subscribers.

THE UNDERSIGNED ACKNOWLEDGES THAT THE GENEVA STATE BANK IS ACTING ONLY AS AN
ESCROW AGENT IN CONNECTION WITH THE OFFERING OF THE SECURITIES DESCRIBED HEREIN,
AND HAS NOT ENDORSED, RECOMMENDED OR GUARANTEED THE PURCHASE, VALUE OR REPAYMENT
OF SUCH SECURITIES.

     IN WITNESS WHEREOF, the parties hereto have hereunto affixed their
signatures as of the day and year first above written.

The Company                                   Escrow Agent

Advanced BioEnergy, LLC                       Geneva State Bank

By:                                           By:
   -----------------------------                  --------------------------
    Revis L. Stephenson, III

Its:  Chairman                                Its:
                                                  ---------------------------

                                        8

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