SOURCE: Greenstone Holdings, Inc.

June 23, 2008 08:30 ET

Greenstone Announces Its Effort to Resolve SEC Suspension

NEW YORK, NY--(Marketwire - June 23, 2008) - Greenstone Holdings, Inc. (PINKSHEETS: GSHN) announced today that on June 18, 2008 the Securities and Exchange Commission (SEC) ordered a temporary suspension of trading of the Company's Common Stock until July 1, 2008. The Company is presently conferring with the SEC in an attempt to resolve the issues. The Company has not been made aware of the reasons for the Suspension Order, except that there was a reference to recent SEC action suspending trading in approximately twenty companies because of e-mail spamming allegedly originating from third parties. No such activity was ever authorized by the Company, and if it did occur, was done without the Company's prior knowledge. With respect to a recent significant spike or sudden dramatic increase in the price of the Company's Common Stock and a significant increase in the volume of traded shares, such had nothing to do with any events relating to the Company's business. The Company intends to investigate any possible spamming and intends to fully cooperate with the SEC's staff to resolve any open issues.

This SEC suspension documentation can be viewed at http://www.sec.gov/litigation/suspensions.shtml.

About Greenstone Holdings, Inc.

Greenstone® (www.egreenstone.com) is in the business of providing a variety of unique chemical technologies that are primarily used in the building and construction industry. The Company's first brand name product, GreenShield™, offers a "green" solution to protect wood-based building materials such as lumber, logs, plywood, drywall, railroad ties, fencing, and utility poles from destructive environmental elements. It also offers added fire retardancy to the material it is applied to. The $25 billion water damage market is just one example of the perfect niche for GreenShield. Greenstone also exclusively distributes Green-Dri™, a revolutionary biological dry kiln for drying wood, Permeate™, a very unique anti-corrosion sealer paint for metal, concrete, and other construction materials, MagneLine®, a very strong polymer cement mortar used to reinforce and/or repair metal and concrete structures such as bridges and highways, Crystal-Guard™, an innovative chemical to make asbestos harmless and recyclable, and Anz Ceramic Coating™, a revolutionary coating to reflect the sun's heat rays.

Forward-Looking Statements:

Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors effecting the Company's operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission.

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