Green Star Alternative Energy Signs Letter of Intent to Acquire European Wind Power...

Green Star Alternative Energy Signs Letter of Intent to Acquire European Wind Power Company

SAN DIEGO--(Business Wire)--
Green Star Alternative Energy, Inc. (Pink Sheets: GSAE) is pleased
to announce the signing of a Letter of Intent with both Notos d.o.o.
and Sirius Regulus d.o.o. The LOI outlines the bases for the
acquisition of these privately held Serbian companies.

Green Star's management believes this merger to be an ideal step
in fulfilling the new corporate strategy. It provides the company with
a strong energy development presence in Europe that will lead to rapid
expansion in the region. There are three divisions within the Notos
framework - Notos Wind Energy, Notos Agri, and Notos Power Trading.
This precise system of asset integration affords superior efficiency
and greater profitability. Notos is the operations arm while Sirius
Regulus is the holder of the land used for the various projects
constructed by its sister company Notos.

Notos Wind Energy specializes in the creation of electricity from
wind energy. With projects currently scheduled for development, Notos
is an important participant in the alternative energy sector. The
concentrated experience of Notos' management team and advisory board
has allowed Notos significant penetration into a burgeoning and
profitable industry. Notos Agri is the agricultural department for
Notos. It uses the real estate assets, which house the wind turbines,
for the farming of various products from corn, wheat, raspberries, and
cattle. Notos Power Trading is the energy trading division for Notos.
It is one of only a few licensed companies permitted to trade
electrical power into and out of the Republic of Serbia, and the only
entity which will have its own electricity (through Notos Wind Energy)
available for trade.

"We look forward to making Green Star Alternative Energy a company
of prominence and environmental integrity. It will be the first
company in Serbia to make use of clean wind energy to produce
ecologically friendly electricity. We are in a position to become an
influential presence in the green energy industry and I appreciate the
opportunity to lead Green Star towards this bright and beneficial
future."

- Miodrag Andric, President Notos

"Green Star Alternative Energy is in the right place by taking
part in this emerging clean energy market. This is a fantastic
opportunity and the acquisition of Notos and Sirius Regulus will
provide solid growth in shareholder value. The financial outlook for
this company is noteworthy."

- J. M. De Castro, CFO Green Star

FORWARD-LOOKING STATEMENTS

This press release contains 'forward-looking statements.' These
are statements concerning plans, objectives, goals, strategies,
expectations, estimates, intentions, projections, developments, future
events, or performance, underlying (expressed or implied) assumptions
and other statements that are other than historical facts. In some
cases forward-looking statements can be identified by the use of
forward-looking words such as 'believes,' 'expects,' 'may,' 'will,'
'should,' or 'anticipates,' 'estimates,' or the negative of these
words or other variations of these words or comparable words, or by
discussions of plans or strategy that involve risks and uncertainties.
Management wishes to caution the reader that these forward-looking
statements, including, but not limited to, statements regarding the
Company's plans, goals the estimates and assumptions, and the business
strategy of the Company and other matters that are not historical
facts are only predictions. No assurances can be given that such
predictions and the estimates regarding mineral reserves, success of
mining plans, or other projections will prove correct or that the
anticipated future results will be achieved. Actual events or results
may differ materially. Forward-looking statements should be read in
light of the cautionary statements and risks that include, but are not
limited to, the risks associated with a small company, the intense
competition the company faces from others, and technological changes.
Any one or more of these or other risks could cause actual results to
differ materially from the future results indicated, expressed, or
implied in such forward-looking statements.

For further information contact: info@greenstarae.com

Green Star Alternative Energy, Inc.
Jesse De Castro, CFO, 619-497-2555

Copyright Business Wire 2008