SOURCE: Greenstone Holdings, Inc.

February 21, 2007 16:00 ET

Greenstone Holdings, Inc. Received an Evaluation Chemical Order From Affordable Housing Solutions

NEW YORK, NY -- (MARKET WIRE) -- February 21, 2007 -- Greenstone Holdings, Inc. (PINKSHEETS: GSHG) announced today that the Company received an initial evaluation order for its chemical, GreenShield™ from Affordable Housing Solutions of Northwest Florida, L.L.C. ("AHS"). AHS formed in October 2005 to help meet the needs for affordable housing along the Gulf Coast as part of rebuilding of over 200,000 homes destroyed by the hurricanes of 2005. AHS is providing housing designed to provide better protection against the hazards of hurricanes and floods in meeting the needs of the returning Gulf Coast citizens. AHS is presently acquiring individual lots in Escambia and Santa Rosa Counties, Florida, and is either constructing single-family residences, utilizing principally local subcontractors, or placing modular homes on the lots for sale all in connection with the Hurricane Recovery Relief Programs.

"We have reviewed the wood treatment products developed by Greenstone, and have witnessed Greenstone's testing results which both clearly demonstrate to us the superb benefits offered by Greenstone's GreenShield™. We are pleased to initiate use of Greenstone's products on trial basis immediately," stated Vince Whibbs, Jr., a partner of AHS. Details of any follow up production order will be announced when available according to Michael Ferrone CEO of Greenstone.

About Greenstone Holdings, Inc.

Greenstone Holdings (, through its operating subsidiaries, is in the business of providing a variety of unique chemical technologies that are primarily used in the building and construction industry. The Chemical Technology Division's first brand name product, GreenShield™, offers building materials such as plywood, drywall, and lumber protection from the environment. It also offers added fire retardancy to the material it is applied to. GreenShield™ covers a wide range of applications such as building material, fencing, railroad tie, and utility pole. The $25 billion water damage market is one example of several in which GreenShield™ could have applications.

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.

Contact Information

    Michael Ferrone
    Chief Executive Officer
    Greenstone Holdings, Inc.
    Phone: (212) 835-1616