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Press Release Source: GreenShift Corporation


Greenshift Completes Investment in TerraPass
Tuesday September 6, 8:30 am ET
Innovative New Company Provides Service to Offset Greenhouse Gas Emissions from Mobile Sources


MOUNT ARLINGTON, N.J.--(BUSINESS WIRE)--Sept. 6, 2005--GreenShift Corporation (OTC Bulletin Board:GSHF - News) today announced the completion of its investment in TerraPass Inc., a development stage company founded by professor Karl Ulrich and a group of his students at the Wharton School at the University of Pennsylvania.
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TerraPass allows consumers to pay to offset their car's emissions through investment in clean-energy alternatives such as wind and bioenergy power by purchasing a "TerraPass" - a decal sold through the TerraPass website that is certified to eliminate the equivalent of a single car's carbon dioxide emissions.

TerraPass is based upon the concept of pollution markets, which allow consumers to subsidize and increase the production of green, or environmentally friendly energy, and offset consumption of fossil fuel sources. These markets are generally not generally available to consumers who may be concerned about the pollution their cars emit. TerraPass allows a broad audience of consumers to participate in this emerging trend, by purchasing carbon dioxide credits and renewable energy certificates ("RECs") on behalf of its customers that subsidize and increase the production of green, or environmentally friendly energy, and offset consumption of fossil fuel sources.

The average car travels 12,000 miles per year and, at the rate of about 20 pounds of carbon dioxide per gallon of gasoline burned, pumps out about 10,000 pounds of carbon dioxide annually, or about three times the weight of the car each year. On today's market, TerraPass can effectively scrub that pollution from the environment for about $50 per year.

"Fully one-third of America's production of greenhouse gases, or about 80,000 pounds of carbon dioxide per person, comes from sources under our direct control - our cars and homes," said Tom Arnold, TerraPass' chief environmental officer. "U.S. transportation activity alone is responsible for about 6.8 billion tons of carbon dioxide production per year. At this scale, small changes can have very big effects. The GreenShift investment is exciting to us because it will help us realize bigger offsets sooner."

"This is another great example of how incremental shifts forward can contribute to profound environmental gains," added Kevin Kreisler, GreenShift's chairman and chief executive officer. "We believe that the TerraPass idea is an exceptional one. Its branding takes the intangible concept of RECs and carbon credits and allows consumers to easily participate., which we believe will increase the breadth and depth of distribution of both pollution instruments in the consumer markets.

Consequently, we believe that TerraPass is on its way to helping a great many individual mobile sources, from individual consumers to entire commercial fleets, make a material contribution to the reduction of greenhouse gases. We are very excited to welcome TerraPass in our growing portfolio of companies and technologies and we look forward to helping drive their development with strategic partnerships, advice and capital to fuel their growth," continued Kreisler.

Under the terms of its agreement with TerraPass, GreenShift is purchasing a 10% stake in TerraPass for $250,000 and an option to purchase another 10% of TerraPass common stock for another $250,000.

About GreenShift Corporation

GreenShift Corporation is a publicly traded business development company (BDC) whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and catalyze transformational environmental gains.

BDCs are regulated by the Investment Company Act of 1940 and are essentially publicly-traded equity funds where shareholders and financial institutions provide capital in a regulated environment for investment in a pool of long-term, small and middle-market companies through the use of senior debt, mezzanine financing, and equity funding.

GreenShift plans to use equity and debt capital to support and drive the value of its existing portfolio of companies and to make investments in a diversified mix of strategically compatible growth stage public and private businesses and technologies. GreenShift's current portfolio includes investments in the following environmentally proactive companies:

Veridium Corporation (OTC Bulletin Board: VRDM - News);
INSEQ Corporation (OTC Bulletin Board: INSQ - News);
GreenWorks Corporation;
GreenShift Industrial Design Corporation;
Coriolis Energy Corporation;
TDS (Telemedicine), Inc.; and,
Ethanol Oil Recovery Systems, Inc.;
Sterling Planet, Inc.;
Ovation Products Corporation; and,
TerraPass Inc.
In addition, GreenShift hopes to add investments in wind power, hydropower, practical centralized applications of hydrogen power, alternative fuels, infrastructure and mining to its portfolio during 2005 and 2006.

Additional information regarding GreenShift Corporation is available online at www.greenshift.com.