Greenstone Holdings, Inc. Lower 2006 Revenue Projections

Business Wire, Sept 29, 2006

NEW YORK -- Greenstone Holdings, Inc. (Pink Sheets: GSHG) announced today that its revenue has been negatively impacted by mild weather and delays in releases of Katrina recovery projects in New Orleans and Gulf Coast area.

The projected sales by its wholly owned disaster restoration subsidiary, Anytime Anywhere Restoration Inc. for the twelve month period ending December 31, 2006, are expected to be approximately forty percent below 2005 level. This shortfall is primarily due to continuous industry wide slow down caused by mild winter, inactive hurricane season, and failure of the governments and their prime contractors to release the pending work orders which have impacted both emergency restoration and mold remediation business.

"I am disappointed with Anytime Anywhere's this year's performance so far," said Sal Miwa., Greenstone's chief executive officer. Mr. Miwa also stated that despite the industry slow down, which has caused the Company to readjust its projections, the Company continues to enjoy excellent relationships with its major customers and has been assured that as soon as governments reopen the funding channels that work releases will be activated and the Company will resume to operate on its anticipated levels of revenue and profits.

The Company has also repositioned itself to focus its resources on developing and marketing its chemical products to the building material industry. In this regard the Company intends to expand its marketing and management team in the very near future.

About Greenstone Holdings, Inc.

Greenstone(R) (www.egreenstone.com), through its operating subsidiaries, is in the business of providing a variety of unique chemical technologies that are primarily used in the building and construction industry. The Chemical Technology Division's first brand name product, GreenShield(tm), offers wood/paper based building materials such as plywood and drywall, protection from water, moisture, and fire. It also offers added thermal insulation into the material it is applied to. In addition to its chemical products, through its subsidiary, Anytime Anywhere Restoration, Inc. (www.anytimerestoration.com), Greenstone is one of the country's leading specialists in mold remediation and emergency restoration of properties damaged by water, fire, and mold caused by accidents, natural disasters, floods, and hurricanes. This division is instrumental in setting up the applicator network for the chemicals produced by the Chemical Technology Division. Greenstone is headquartered in Manhattan. The R&D production facility is located in Oxford, MS and the restoration service offices are in Hicksville, NY and Hattiesburg, MS. A corporate fact sheet can be downloaded at http://www.egreenstone.com/documents/FactSheet-60929A.pdf

Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors effecting the Company's operations, markets, products and prices and other factors discussed in the Company's various filings with the Securities and Exchange Commission.