Laidlaw Energy Group, Inc.(fka LLEG)

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whats this Laidlaw Energy Group, Inc. (Ticker Symbol “LLEG”) announced today that it has executed an engagement letter with Greystone CDE, LLC, an affiliate of Greystone & Co., Inc. (www.greyco.com), to arrange debt financing and monetize the anticipated tax credits in connection with the 60 – 70 megawatt Berlin, NH based biomass-energy project planned by its affiliate Laidlaw Berlin, LLC (the “Company”).

Greystone will assist the Company in arranging a loan for part of the approximately $55 million project cost via one of several government programs for projects of this type, such as the New Market Tax Credit program sponsored by the U.S. Treasury.

Greystone will also assist the Company in structuring a transaction to sell forward the future Federal Renewable Energy Production Tax Credits from the project and is also expected to provide short term debt financing.

Commenting on the engagement, Greystone CDE director, Matthew James, stated, “We are excited to work with Laidlaw to help make this very important project a reality.”

The Berlin biomass-energy project involves converting the former Fraser Paper pulp and paper mill into a highly advanced biomass-to-energy project that is expected to export approximately 60 megawatts of renewable energy to the New England power grid. The project is expected to employ 40 directly and create or sustain over 500 indirect jobs. The project is currently expected to commence operations in late 2008 or early 2009.

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