Wall Street News Alert: Ahead of the Bell: Green Star Alternative Energy -- June 23, 2009

Market Wire, June, 2009

Wall Street News Alert's "stocks to watch" this morning are: Green Star Alternative Energy, Inc. (PINKSHEETS: GSAE), AT&T Inc. (NYSE: T), Medis Technologies Ltd. (NASDAQ: MDTL) and Verizon Communications Inc. (NYSE: VZ).

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Having received an updated Speculative Buy rating with a price target of $5.70 by Beacon Equity last week, Green Star Alternative Energy, Inc. (PINKSHEETS: GSAE) and the company should have the attention of investors looking to possibly benefit from the growing wind energy market. Yesterday after the markets closed, the company issued a press release announcing the hiring of Nikola Vasilijevic as the Company's Wind Farm Designer. Nikola's expertise lies in electrical engineering and computer science; he will oversee the engineering and construction of Green Star's wind farms.

Nikola has worked for EPS, Electric Power Industry of Serbia, and has made significant research contributions to the assessment of wind energy potential in the region. His published work includes "Creating the Map of Vojvodina's Wind Potential Using Linear Interpolation Independent of Direction" (2008); and Nikola was an honorary presenter at the European Wind Energy Conference in Marseilles, France.

Last week, the company issued a press release announcing that it has received an updated Speculative Buy rating with a price target of $5.70 by Beacon Analyst, Victor Sula, Ph.D. In the report, the analyst notes GSAE's recent filing with the SEC to become a fully reporting publicly traded entity on Nasdaq's OTCBB. The analyst also writes, "GSAE is evaluating various locations across Serbia as commercially viable wind farm sites and evaluating potential acquisitions to build its wind farm portfolio... the revenue potential of GSAE's wind energy projects is significant. The Company is pursuing opportunities to develop 300 MW of wind energy and provide clean energy to Serbia and neighboring European countries. During Q2 2009, GSAE began negotiations for a 60 MW wind energy partnership project with Vintim representing $23 million in potential gross revenues annually.

Last Monday the company also reported the installation of the wind measurement tower at the 20 MW Belo Blato site. Miodrag Andric, CEO of Green Star Alternative Energy, stated: "We are delighted to see the first tower in place; but this is only the beginning, as we have other locations that require analysis and development."

The terrain had been carefully analyzed and many months of preparation and licensing have culminated in this deployment. The data gathered will provide Green Star the ability to optimize the wind farm design and efficiency. Wellbury was commissioned to execute the placement and construction of our 60 meter tower.

The stock closed yesterday at $1.70 a share.

For an in-depth profile of Green Star Alternative Energy, visit http://www.wallstreetnewsalert.com/view-company-profiles.php?profile=GSAE_062209 .

AT&T Inc. (NYSE: T) up 0.4% on 39.8 million shares traded.

AT&T Inc. is a premier communications holding company.

Medis Technologies Ltd. (NASDAQ: MDTL) up 80% on 25.9 million shares traded.

Medis Technologies Ltd. is one of the first company's in the world market a personal and portable liquid fuel cell capable of providing electrical power to the mobile electronics marketplace.

Verizon Communications Inc. (NYSE: VZ) up 1.2% on 22.3 million shares traded.

Verizon Communications Inc. is a global leader in delivering broadband and other wireless and wireline communications services to mass market, business, government and wholesale customers.

Market Commentary:

For the first time in nearly two months, retail gasoline prices retreated Monday as benchmark crude prices tumbled about 4 percent. Benchmark crude for July delivery dropped $2.62 to settle at $66.93 on the New York Mercantile Exchange.

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