SOURCE: Greystone Logistics, Inc.

October 08, 2007 12:30 ET

Greystone Logistics and New Composite Partners Announce Availability of First Bio-Composite Pallet

DAVENPORT, IA--(Marketwire - October 8, 2007) - New Composite Partners (NCP) and Greystone Logistics, Inc. (OTCBB: GLGI) today announce the availability of the first bio-composite plastic pallet utilizing 100% renewable and recycled feedstock. New Composite Partners has developed a proprietary biomass resin, R2 bioresin®, from annually renewable feedstock including com cob, com fiber, and distillers' grain. NCP teamed with Greystone Manufacturing (a subsidiary of Greystone Logistics, Inc.) to develop pallets that include the R2 bioresin. By utilizing R2 bioresin®, manufacturers are able to increase the annually renewable carbon content in their products.

"We are delivering a bio-composite pallet product that includes renewable feedstock and it equal to an all-plastic pallet in price and performance," noted Andrew Axel, CEO of NCP. "Our pallets help companies meet federal sustainability requirements because our process technology utilizes abundant, annually renewable feedstock to reduce the use of fossil fuels."

"We are very pleased with the performance of R2 in our molding process. There was no difference in cycle or cure times. We are continually looking for innovations in materials technology, and utilizing R2 bioresin® customers will have an option to add a bio component to our 100% recyclable materials," said Warren Kruger, CEO of Greystone.

Drive for Sustainable Products It is estimated that 10% of the oil consumed in the United States is used in the production of plastic. By substituting grain for plastic, R2 bioresin® will help achieve the results outlined in Executive Order 13423, which states: "It is the policy of the United States that Federal agencies conduct their environmental, transportation, and energy-related activities under the law in support of their respective missions in an environmentally, economically and fiscally sound, integrated, continuously improving, efficient, and sustainable manner.

About New Composite Partners

New Composite Partners (NCP) is a technology firm that develops proprietary biomass resins from renewable feedstock which when used in plastic and plastic composite manufacturing reduces the amount of petroleum-based inputs. NCP's biomass resins reduce the consumption of fossil fuels and assist companies in meeting sustainability guidelines and mandates. NCP also provides technology development and consulting services to manufacturers interested in developing alternative or customized biomass formulas for the production of plastic and plastic composite products.

About Greystone Logistics, Inc.

Greystone is a plastic pallet manufacturer that utilizes patented and proprietary technologies and designs to produce high quality, 100% recycled plastic pallets. Greystone serves the beverage, pharmaceutical and other industries.

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