Green Star/Notos JV Signs Agreement with Municipality of Veliko Gradiste

SAN DIEGO--(Business Wire)--
Green Star Alternative Energy, Inc. (Pink Sheets: GSAE; "GSAE" or the "Company")
(http://www.greenstarae.com) is pleased to announce the signing of an agreement
between the Green Star/Notos JV and the Municipality of Veliko Gradiste. The
arrangement allows Green Star to explore the economic viability of the regional
wind resources; and upon evaluation, the right to develop wind power and supply
the area with green electricity.

The Municipality of Veliko Gradiste is located in north-east Serbia
approximately 100 km east of the capital, Belgrade. Its territory encompasses
344 square km on the right bank of the Danube River and left bank of the Pek
River. The initial micro location for placement of the Company`s wind sensors
has been identified in the settlement of Ram, and the Municipality has allotted
200 hectares of land towards this endeavour.

Miodrag Andric, CEO of Green Star Alternative Energy, stated: "The Company will
continue to increase its portfolio of wind resources as we execute our strategic
plan and secure more development locations."

About GSAE

Green Star Alternative Energy is an environmentally conscious, renewable energy
company working to develop more than 300 MW (megawatts) of clean electricity
through wind energy. The corporate revenue model is two-fold: the use of a
renewable resource allows not only for the creation of environmentally friendly
energy, but the granting of carbon (greenhouse gas) emission credits which may
be traded and sold. Green Star is pursuing a significant opportunity to provide
clean energy to the growing Republic of Serbia and neighbouring European
countries. Through a joint venture with key wind farm and power trading company
Notos, Green Star will become the nation's first developer of wind power. GSAE
is focused on green technology and sustainable energy programs like wind
turbines, hydro electric power generation, and other renewable electricity
models.

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.

Green Star Alternative Energy, Inc.
Jesse De Castro, CFO
1-866-955-GSAE (4723)
info@greenstarae.com

Copyright Business Wire 2009