SOURCE: Nordic Turbines Inc.

Nordic Turbines Inc.

August 21, 2009 08:00 ET

Nordic Turbines Enters Into Binding Agreement Towards Merger With GC Nordic

CENTERVILLE, MA--(Marketwire - August 21, 2009) - Nordic Turbines Inc. (OTCBB: NDTI) ("Nordic" or the "Company") wishes to advise that the Company has entered into a binding agreement (the "Agreement") with Wuhan Guoce Nordic New Energy Co. Ltd., a People's Republic of China company ("GC Nordic"), and related parties in order to complete the terms of its agreements with GC Nordic pursuant to its pending merger plans.

All parties have entered into the Binding Agreement which states that, upon completion of the conditions and in a formal, definitive agreement, the Company, or a wholly-owned subsidiary of the Company, shall acquire all of the issued and outstanding capital stock of the parent company of GC Nordic in exchange for the issuance of shares of common stock of the Company to the shareholders of GC Nordic, which will represent a fifty four percent (54%) ownership interest in the Company post-Closing (the "Merger"). As a result, upon consummation of the Merger, the Company shall indirectly own all of the outstanding capital stock of GC Nordic. Furthermore, the previously announced $10,000,000 loan made to the Company will be converted into shares of the Company's common stock.

The Company and GC Nordic further agree that they will enter into a definitive merger agreement containing substantially the same terms and provisions as set in the Binding Agreement within thirty (30) days from the date of execution of the Binding Agreement.

About GC Nordic

GC Nordic is a wind turbine manufacturing venture of Wuhan Guoce Nordic New Energy Co. Ltd., an affiliate of the highly regarded and successful multi-division Wuhan Guoce Group of Companies. The organization is a well established manufacturer of hydraulic and electronic systems offering direct access to a national client base representing a large industrial market share with extensive vertical penetration opportunities across the People's Republic of China ("PRC"). The company holds a license to manufacture a robust and innovative wind turbine system originally developed in Europe.

Further details regarding the agreements with GC Nordic are filed as part of the Company's continuous public disclosure as a reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database.

Notice Regarding Forward-Looking Statements

This news release may contain "forward-looking statements." Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the development, costs and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-KSB for the most recent fiscal year, our quarterly reports on Form 10-QSB and other periodic reports filed from time-to-time with the Securities and Exchange Commission.

Nordic Turbines Inc.
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Marcus Laun, Director

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