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Thursday, 04/23/2009 8:48:19 AM

Thursday, April 23, 2009 8:48:19 AM

Post# of 778
NEWS: Green Star Signs Agreement With Electrawinds

SAN DIEGO, CA, Apr 23, 2009 (MARKET WIRE via COMTEX) -- Green Star Alternative Energy, Inc. (PINKSHEETS: GSAE) (http://www.greenstarae.com/) is pleased to announce a collaboration agreement between the Green Star/Notos JV and Electrawinds. The companies share common goals and values -- to bring about change to the energy market through the development of renewable electricity. This association will work towards partnerships on various developments not only in the Republic of Serbia, but Europe as well. Electrawinds recognizes the significant opportunity in Serbia and wishes to participate in providing the nation with clean energy.

Electrawinds, currently the largest private player on the Belgian renewable energy market, was established in 1998. Electrawinds produces, sells and distributes green power generated from inexhaustible clean energy resources such as wind, sun and organic matter. Apart from constructing and operating windmill farms, solar farms and biomass plants, Electrawinds also investigates and develops new renewable energy possibilities and applications. Their numerous renewable energy projects are implemented independently or in cooperation with partners. Thanks to its flat organisational structure Electrawinds is a flexible company that can make decisions quickly.

Luc Desender, CEO of Electrawinds, stated: "The Serbian energy market will be a welcome addition to our portfolio and will become a significant part of our future developments."

Miodrag Andric, President of Notos, commented: "It is important to expand our development potential, and with Electrawinds we will be able to progress more quickly not only in Serbia, but throughout Europe as well."

J. M. De Castro, CFO of Green Star Alternative Energy, stated: "This new relationship with Electrawinds will provide Green Star greater access to wind power developments throughout Europe. And through Green Star, Electrawinds will gain contact to the dynamic potential that exists in the Republic of Serbia. It will be a mutually beneficial affiliation with an increase in expertise and capabilities."

GSAE would like to inform the public that J.M. De Castro, CFO, will be available for a live interview at http://www.investmentnation.com on Wednesday, April 29th, 2009 at 6 pm EDT; investors may post questions for the interview, to the GSAE message board, at the following link http://www.investmentnation.com/viewboard.php?id=357&sb=Y&sc=Y

About Green Star Alternative Energy (PINKSHEETS: GSAE)

Green Star Alternative Energy is an environmentally conscious, renewable energy producer. The Company is working to develop more than 300 MW (megawatts) of clean electricity through wind energy. The corporate revenue model is two-fold: the use of a renewable resource allows not only for the creation of environmentally friendly energy, but the granting of carbon (greenhouse gas) emission credits which may be traded and sold. Green Star is pursuing a significant opportunity to provide clean energy to the growing Republic of Serbia and neighbouring European countries. Through a joint venture with key wind farm and power trading company Notos, Green Star will become the nation's first developer of wind power. GSAE is focussed on green technology and sustainable energy programs like wind turbines, hydro electric power generation, and other renewable electricity models.

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.

Investor Relations Contact:
Toll Free (866) 949-5735
M-F 10AM-10PM EDT
Del Mar Corporate Communications, LLC



SOURCE: Green Star Alternative Energy, Inc.

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