GSPI Green Star Products Inc (PK)

Green Star Products, Inc. (OTC: GSPI) announced today that last week approximately 600 people attended a standing room only two-day conference on the future importance of algae titled �Algae Biomass Summit� hosted by the Algal Biomass Organization (ABO). The ABO is a not-for-profit trade association dedicated to the advancement of the algae biomass industry, and promotes the development of viable commercial markets for renewable and sustainable commodities derived from algae. The 2008 Algae Biomass Summit was held on October 23 and 24 in Seattle, Washington, with a capacity audience of more than 600 algae producers, scientists, investors and policy-makers from more than a dozen countries. These experts gathered to accelerate the development of algae-based solutions to global energy, environmental, and economic issues. Keynote speaker and pre-eminent clean technology investor Vinod Khosla set the tone for the conference by stating his belief that given the continued developments in technology, algae can play a significant role in the replacement of petroleum oil. "I am here today because I believe algae can be a solution," stated Khosla. "I'm convinced someone here (at the Summit) will break the code. The exciting part is to see over 600 people in this room solving the problem. In fact, someone out there may have already solved it and I just don't know yet." As recently as two years ago, anyone stating that oil produced from algae had the potential to wean the Unites States from foreign oil forever and could reduce Greenhouse Gases (GHG) significantly would have encountered wide skepticism. However today, mainstream corporations from several industries including energy, airline and chemical have concluded that we have discovered one of the world's true natural treasures which could potentially extend society existence beyond the scope of human imagination. Prominent speakers from all over the world displayed their research and the potential of algae to permanently solve the oil crisis, the food crisis, and control the buildup of global warming gases. The algae biological makeup was also investigated for the possibility to produce chemicals and new products limited only by our ingenuity to create them. The human race has opened the door to a new scientific world. Who knows? In biblical terms it might be what the bible called Manna. Joseph LaStella, President of Green Star Products, attended the summit and stated, �There was a clear message that algae could be the planet saviour, however, all speakers indicated there is no clear pathway to reduce algae production cost. The general opinion of everyone was that sizeable demonstration facilities would have to be built to provide real costs and operational data.� Mr LaStella further stated, �This is exactly what Green Star had accomplished in 2007 with its Hybrid Algae Production System (HAPS).� The Green Star HAPS algae system was demonstrated by building and operating a 40,000 liter algae production facility (see 18-page GSPI's algae production demo report: http://www.greenstarusa.com/reports/08-05-09GSPIAlgaeDemoReport.pdf), which is still one of the largest algae demo projects ever build to determine real field data. The facility also provided important data on the production costs involved in reaching a final commercial stage. The HAPS algae system successfully demonstrated a significantly reduced cost while controlling parameters associated with algae growth. The nine-month field study in Montana showed the HAPS system's ability to sustain algae growth while maintaining environmental conditions such as temperature, pH, evaporation, salinity and the control of unfriendly species invasions. Green Star had to prove that this was possible while having the HAPS system costs be 3 to 10 times lower than similar systems presented by other companies at the 2008 Algae Biomass Summit. In conclusion, Green Star has been involved in the R&D and construction of algae facilities long before algae became an important investment option. The summit was vital to the algae industry because it recognized the on-going research, the current industry efforts, and the importance of algae as a future source of energy and other useful materials to society. The conference showed evidence that the industry is now on a fast track around the world to realizing these goals. For additional news on GSPI's current efforts towards commercial algae production see press release titled �Saline County Missouri Approves $141 Million Revenue Bonds for Alternative Energy� dated July 31, 2008 (http://www.greenstarusa.com/news/08-07-31.html) and press release titled �Green Star Continues on Course to Its Large Scale Commercial Production of Algae Biodiesel� dated October 23, 2008 (http://www.greenstarusa.com/news/08-10-23.html). For additional news on the Algae Biomass Summit see ABO press release titled �'Algae Can Be the Solution' States Vinod Khosla at 2008 Algae Biomass Summit� dated October 24, 2008 (http://news.yahoo.com/s/usnw/20081024/pl_usnw/___algae_can_be_the_sol ution____states_vinod_khosla_at2008_algae_biomass_summit). (Due to its length, this URL may need to be copied/pasted into your Internet browser's address field. Remove the extra space if one exists.) Green Star Products, Inc. (OTC: GSPI) is an environmentally friendly company dedicated to creating innovative cost-effective products to improve the quality of life and clean up the environment. Green Star Products and its Consortium are involved in the production of green sustainable goods including renewable resources like algae biodiesel and clean-burning biofuels, cellulosic ethanol and other products, as well as lubricants, additives and devices that reduce emissions and improve fuel economy in vehicles, machinery and power plants. For more information, see Green Star Products' Web site at http://www.GreenStarUSA.com, or call Public Relations at 1-800-741-7648 and 1-800-340-9784, or fax 619-789-4743, or email info@GreenStarUSA.com. Information about trading prices and volume can be obtained at several Internet sites, including http://www.pinksheets.com, http://www.bloomberg.com and http://www.bigcharts.com under the ticker symbol "GSPI". Forward-looking statements in the release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the company's products, increased levels of competition for the company, new products and technological changes, the company's dependence on third-party suppliers, and other risks detailed from time to time in the company's periodic filings with the Securities and Exchange Commission.