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Green Star Alternative Energy Represents Serbia’s Renewable Energy Sector in Strategic Energy & Climate Change Forum

September 4, 2008

Green Star Alternative Energy, Inc. (Pink Sheets: GSAE) is taking a leadership position in promoting renewable energy to combat climate change and meet rising energy demand. Green Star is acquiring Notos d.o.o. to become the Republic of Serbia’s first wind power developer. Notos was invited by the Slovenian Ministry of Energy to represent Serbia’s alternative energy sector at the Bled Strategic Forum on “Energy and Climate Change: Si.nergy for the Future” held in Slovenia on August 31st and September 1st. At this key international summit the Green Star and Notos team participated in strategic discussions with high level government representatives, EU officials, private sector leaders, energy industry experts on the challenges of energy security and climate change.

The third annual Bled Strategic Forum addressed soaring oil and gas prices, public concern over growing dependence on imports of energy resources, and the mounting evidence of global warming. The summit was attended by approximately 400 participants from more than 50 countries. Its objective was to bring together world leaders to develop and commit to solutions and stimulate public-private sector cooperation.

The Green Star and Notos team had strategic meetings with key officials including the Prime Ministers of Slovenia, Latvia and the Czech Republic, Minister of Environmental Protection for the Republic of Serbia, Minister of Economy for Slovenia, Deputy State Secretary of Denmark’s Ministry of Climate and Energy and the Minister in Shadow for Energy, Industry and Postal affairs of the United Kingdom of Great Britain and Northern Ireland. The team also met with high level representatives from Mitsubishi Heavy Industries, Columbia University, the Business Advisory Council for South Eastern Europe and the World Renewable Council.

Miodrag Andric, President of Notos, commented: “At this important forum leaders from government, energy and science came together to forge solutions to the challenges of energy security and climate change. Increased use of domestic renewable resources to decrease reliance on foreign imports and reduce emissions was a key element of the discussions. As Serbia’s first developer of wind power we were honored to be able to offer our insight and expertise.”

J. M. De Castro, CFO of Green Star Alternative Energy, stated: “Increased use of renewable resources is critical to a sustainable energy future for Europe and the world. Green Star Alternative Energy is committed to developing more than 300 megawatts of clean, homegrown wind power.”

About Green Star Alternative Energy (GSAE.PK)

Green Star Alternative Energy, Inc. is engaged in developing clean energy from the power of wind. To drive growth and revenue Green Star is focused on the development of wind energy, the import and export of electricity, the cultivation of agriculture on its wind farms, and the supply of greenhouse gas emission credits. The company is pursuing a significant opportunity to provide clean power to the growing Republic of Serbia and neighboring European countries. With the pending acquisition of key wind farm and power trading company Notos, Green Star will become one of a select few companies licensed to trade electrical power into and out of Serbia, the only company in Serbia able to generate and export its own wind energy, and the nation’s first developer of wind power.

Green Star is also pleased to announce the hiring of Market Trend News Inc. Market Trend has been engaged for a three month period to assist Green Star with investor relations and investor communications. FORWARD-LOOKING STATEMENTS

This press release contains ‘forward-looking statements.’ These are statements concerning plans, objectives, goals, strategies, expectations, estimates, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. In some cases forward-looking statements can be identified by the use of forward-looking words such as ‘believes,’ ‘expects,’ ‘may,’ ‘will,’ ‘should,’ or ‘anticipates,’ ‘estimates,’ or the negative of these words or other variations of these words or comparable words, or by discussions of plans or strategy that involve risks and uncertainties. Management wishes to caution the reader that these forward-looking statements, including, but not limited to, statements regarding the Company’s plans, goals the estimates and assumptions, and the business strategy of the Company and other matters that are not historical facts are only predictions. No assurances can be given that such predictions and the estimates regarding mineral reserves, success of mining plans, or other projections will prove correct or that the anticipated future results will be achieved. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, the intense competition the company faces from others, and technological changes. Any one or more of these or other risks could cause actual results to differ materially from the future results indicated, expressed, or implied in such forward-looking statements.

For further information contact: info@greenstarae.com




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