Greystone Logistics Announces Purchase Orders for Recycled Plastic Pallets

Market Wire, March, 2009

Greystone Logistics, Inc. (OTCBB: GLGI) recently received purchase orders from Miller-Coors Brewing for production and delivery of three different size 100% recycled plastic pallets used in their production and distribution systems. As in past years, the purchase order for case goods pallets represent Miller's estimate of the pallets to be delivery over the course of twelve months.

"In these competitive times, we are pleased to continue our multi-year relationship with Miller-Coors Brewing," said Warren Kruger CEO of Greystone. Mr. Kruger continued, "Our 100% recycled plastic pallet line continues to garner customers as companies across America look for ways to lower long term costs of product delivery while using sustainable packaging and 'green' shipping solutions. We had seen some delay in anticipated orders following our profitable 2nd quarter as the economy continued to slow and businesses delayed buying decisions but with these purchase orders I anticipate another profitable year particularly with our focus on expanding our distribution system."

About Greystone Logistics, Inc.

Greystone is a plastic pallet manufacturer that utilizes patented proprietary technologies and designs to produce high quality, 100% recycled plastic pallets. Greystone serves the beverage, pharmaceutical and other industries. Additional information about Greystone and its products may be obtained from the reports it files with the Securities and Exchange Commission.

Forward-Looking Statements

This press release includes certain statements that may be deemed "forward-looking statements" within the meaning of the federal securities laws. All statements, other than statements of historical facts, that address activities, events or developments that Greystone expects, believes or anticipates will or may occur in the future, including the potential sales of pallets, the improvement of operating results or other possible business developments, are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties. The forward-looking statements above could be affected by any of the following factors: Greystone's prospects could be affected by changes in availability of raw materials, competition, rapid technological change and new legislation regarding environmental matters. These risks and other risks that could affect Greystone's business are more fully described in its reports filed with the Securities and Exchange Commission, including Greystone's Form 10-KSB for the fiscal year ended May 31, 2006. Actual results may vary materially from the forward-looking statements. Greystone undertakes no duty to update any of the forward-looking statements in this release.

CONTACT: Warren F. Kruger CEO Corporate Office 1613 East 15th Street Tulsa, Oklahoma 74120 (918) 583-7441 (918) 583-7442 wfkruger@greystonelogistics.com www.greystonelogistics.com