A radical new approach to fractionating dried, flaked, whole corn was studied. The countercurrent process involved sequential extraction of crude oil and simultaneous dehydration of ethanol. Protein was extracted by using a mixture of alkali and ethanol. The procedure provided a means of recycling the alcohol from cornstarch fermentation to upstream steps of extraction. Ethanol was able to extract oil in quantities significantly greater than the 72% obtained by conventional prepress hexane extraction methods in industry. The water adsorption capacity of the flaked whole corn (at an initial moisture content of <2%) was 26 g/kg corn which was sufficient to dry 35 g of 95% ethanol/100 g corn (2.5 gal/bu) to about 99% ethanol. The mixture of 45% ethanol:55% 0.100 M NaOH extracted 64-72% of the available protein. The protein concentrate contained 72.5% crude protein (db). Neither sonication nor homogenization improved protein yields.