SOURCE: Greenstone Holdings, Inc.

February 21, 2007 09:30 ET

Greenstone Holdings, Inc. Signs Chemical Supply Agreement With Bay Tree Technologies

NEW YORK, NY -- (MARKET WIRE) -- February 21, 2007 -- Greenstone Holdings, Inc. (PINKSHEETS: GSHG) announced today that the Company signed a long-term chemical supply agreement with Bay Tree Technologies USA LLC ("Bay Tree") on January 3rd, 2007. This 5-year agreement provides that Greenstone will supply Greenstone's protective chemical product, GreenShield™, to Bay Tree, a building material manufacturer in Olathe, KS with offices throughout the country. According to Michael Sullivan, Bay Tree's CEO, Bay Tree's management has been responsible for sales contracts of over $1.5 billion dollars in treated lumber sales serving such accounts as Home Depot and Huttig Building Products, Inc., a major national distributor of building materials. Bay Tree intends to utilize GreenShield™ in its campaign to market a new brand of treated wood products featuring GreenShield™.

"We are confident that GreenShield™ has a tremendous potential when compared to other presently available wood treatment products," said Mr. Sullivan. Michael Ferrone, Greenstone's CEO, said, "Bay Tree has a great sales team, ready-to-go national branding and distribution. We are very happy to be partnering with them."

About Greenstone Holdings, Inc.

Greenstone Holdings (www.egreenstone.com), 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 many which GreenShield can be useful in. http://www.egreenstone.com/documents/FactSheet.pdf

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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