Green Energy Enterprises Inc. (GYOG)

[Leto]

Quasar Aerospace Funding Update

JACKSONVILLE, FL, Jun 01, 2010
Quasar Aerospace Industries, Inc. (PINKSHEETS: QASP)

Newby and Associates, Inc. has confirmed receipt of its private bank commitment
for the first and most important piece of collateral issuance in excess of Ten
Million Dollars ($10mm). This particular asset coverage will provide the
necessary cross collateralization for the backing of the investment grade
collateral of Ten Million Dollars ($10mm). Once the investment grade collateral
has been issued, the Ten Million Dollars ($10mm) in loan proceeds for Quasar
Aerospace Industries, Inc. (QASP) will close within 7 banking days. This first
commitment of assets is expected to close within the next 5 business days from
today, June 1st, and the investment grade collateral will close within 5
business days thereafter.

This is an update to the previous press release regarding Newby and Associates,
Inc and their efforts in providing financing for Quasar Aerospace Industries,
Inc.