Overview

Green Star Alternative Energy is an environmentally conscious, renewable energy company working to develop more than 300 MW (megawatts) of clean electricity through wind energy. The corporate revenue model is two-fold: the use of a renewable resource allows not only for the creation of environmentally friendly energy, but the granting of carbon (greenhouse gas) emission credits which may be traded and sold. Green Star is pursuing a significant opportunity to provide clean energy to the growing Republic of Serbia and neighbouring European countries. Through a joint venture with key wind farm and power trading company Notos, Green Star will become the nation's first developer of wind power. GSAE is focused on green technology and sustainable energy programs like wind turbines, hydro electric power generation, and other renewable electricity models.

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Investment Highlights

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Profile

Green Star Alternative Energy (GSAE) focuses on developing renewable electricity in Europe, the United States, and China. It produces energy from wind, water, and sunlight.

GSAE is an environmentally conscious, renewable energy company working to develop more than 300 MW (megawatts) of clean electricity through wind energy. The corporate revenue model is two-fold: the use of a renewable resource allows not only for the creation of environmentally friendly energy, but the granting of carbon (greenhouse gas) emission credits which may be traded and sold.

Green Star is pursuing a significant opportunity to provide clean energy to the growing Republic of Serbia and neighboring European countries. Through a joint venture with key wind farm and power trading company Notos, Green Star will become the nation’s first developer of wind power. GSAE is focused on green technology and sustainable energy programs like wind turbines, hydro electric power generation, and other renewable electricity models.

GSAE's energy is a pollution-free and infinitely sustainable form of energy. It does not use fuel; it does not produce greenhouse gasses; and it does not produce toxic or radioactive waste.

Policies to promote renewables have mushroomed in recent years. At least 66 countries – 43 developed and 23 developing countries – have some type of policy to promote renewable power generation.

Last year, the areas of largest annual investment were Europe, China, and the United States. With over 71 billion dollars of new investment and an overall growth rate of 15%, the renewable energy sector is gaining credence among private investors looking for growth in the next big industry.

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Notos Opportunity

Green Star is pleased to announce a Joint Venture with Notos d.o.o., a private Serbian company dedicated to renewable energy. This partnership enables Green Star Alternative Energy to establish a leadership role in the development and supply of wind power in Serbia and the Balkan Peninsula. This alliance is an ideal step towards fulfilling Green Star's corporate strategy of bringing online more than 300 MW of wind power over the next five years. It will provide the company with a strong energy development presence in Europe that will lead to rapid expansion in the region. The agreement presents Green Star with control of the business enterprise through a 51% ownership of the joint venture.

There are three divisions within the Notos framework - Notos Wind Energy, Notos Agri, and Notos Power Trading. This precise system of asset integration affords superior efficiency and greater profitability. Notos Wind Energy specializes in the creation of electricity from wind energy. With projects currently being scheduled for development, Notos is considered an important participant in the alternative energy sector. The concentrated experience of Notos’ management team and advisory board has allowed Notos significant penetration into a growing and profitable industry. Notos Agri is the agricultural department for Notos. It utilizes the real estate assets, which house the wind turbines, for the farming of various products from corn, wheat, raspberries, and cattle. Notos Power Trading is the energy trading division for Notos. It is one of only a few licensed companies permitted to trade electrical power into and out of the Republic of Serbia, and the only entity which will have its own electricity (through Green Star) available for trade.

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Projects

The Company's Notos subsidiary is developing wind energy projects in northern Serbia which are expected to provide approximately 300 MW of wind turbine capacity by 2013. The northern part of Serbia is characterized by a strong local southeast wind suitable for wind farms. The Vojvodina AP region of Serbia has wind speeds consistently exceeding 4 m/s over almost two-thirds of its area. The Pannonian Plain, north of the Danube River, covers approximately 2,000 square kilometers and has the necessary infrastructure, from roads to an electricity grid, to support wind farms. Constant wind speeds in excess of 5 m/s (the prerequisite level for wind-powered electricity) can be found in the Bela Crkva, Indija, Irig, Sombor, Novi Sad, Vrsac and Zrenjanin regions of Serbia.

The Republic of Serbia is located in the central part of the Balkan Peninsula, on the most important route linking Europe and Asia, occupying an area of 88,361 sq. km. Serbia is known as the cross-roads of Europe. The international roads and railways passing down its river valleys make up the shortest link between Western and Central Europe, on the one side, and the Middle East, Asia
and Africa, on the other.

According to the Serbian Ministry of Mining and Energy, Serbia's endowment of renewable energy resources is substantial but the realization of its clean energy potential is in its infancy. In 2007 Serbia produced 8.796 Mtoe and imported 6.139 Mtoe. Renewables made up only 5.6% of the country’s primary energy supply. All of the renewable energy (9,928 GWh) was produced by hydro power plants. There are currently no wind power projects producing energy. (Republic of Serbia – Ministry of Mining and Energy, "Renewable Energy Sources", May 2008).

There are great regional differences in the availability of wind energy in Serbia and significant differences are present even at small distances. The availability of wind energy in Serbia is greater in lower areas than in higher ones. The Northern part of Serbia is characterized by a strong local southeast wind – kosava.

One region in Serbia especially interesting for Green Star is Vojvodina AP, with almost two-thirds of its area having wind speed that exceeds 4 m/s. The Pannonian Plain, north of the Danube, covers approximately 2000 square kilometres and is suitable for the construction of wind generators because the basic infrastructure, from roads to the electricity grid, already exists. The prerequisite constant level of 5 m/s can be found in several locations: Bela Crkva, Indija, Irig, Sombor, Novi Sad, Vrsac, and Zrenjanin.

The Belo Blato Wind Energy Project will be a milestone for the Republic of Serbia. It will be the first wind farm development in the region and will progress the national initiative for increased energy creation from renewable resources. The site is located in the Municipality of Zrenjanin, Autonomous Province of Vojvodina. This location is nestled between the banks of the Tisa River and the Begej delta, where the surrounding fields experience the most constant winds in the area. It will produce 20 MW of electricity and contribute energy to an under supplied Serbian market. Belo Blato will be a representation of the potential that exists in renewable energy. It will contribute to regional development through job creation and increased infrastructure. This undertaking begins the intial phase of energy development and will increase rapidly into other areas being considered for expansion.

The Company has secured 89 hectares of land permitted for wind power generation and agriculture. The Belo Blato project will produce 20 MW of clean wind power, supplying 6,000 homes with electricity. To date, all necessary permit applications have been made, including applications for a license to produce electricity, applications to the Municipality of Zrenjanin for a development license for Belo Blato, and a Letter of Intent from EPS (ElectricPower Industry of Serbia – a national electrical utility) for cooperation on the project.

Belo Blato project will:

• Produce 20 MW of electricity
• Deliver energy to an under supplied Serbian market
• Provide renewable, made-in-Serbia electricity for generations to come
• Help reduce greenhouse gas emissions
• Provide local jobs
• Provide wheat for the local community
• Contribute to local community development
• Be a representation of the potential that exists in renewable energy

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Recent News and Press Releases

Green Star to Attend the United Nations Climate Change Conference
Business Wire (Wed, Aug 5)

GREEN STAR ALTERNATIVE ENERGY INC. Files SEC form 8-K, Entry into a Material Definitive Agreement, Regulation FD Disc
EDGAR Online (Fri, Jul 31)

Green Star Engages Clayton, Dunning Global Partners LLC for Capital Raise
Business Wire (Mon, Jul 27)

Green Star Engages Financial Firm for Capital Raise
Business Wire (Fri, Jul 24)

Green Star Moves Forward with 20 MW Belo Blato Project
Business Wire (Wed, Jul 22)

Green Star/Notos JV Signs Non-Disclosure Agreements with Gamesa and Elektrawinds
Business Wire (Thu, Jul 16)

Green Star/Notos JV Signs Agreement with Municipality of Veliko Gradiste
Business Wire (Mon, Jul 13)

Green Star Files with SEC for Fully Reporting Status
Business Wire (Thu, Jul 9)

Green Star's Belo Blato Sensor Shows Better than Expected Wind Speeds
Business Wire (Tue, Jul 7)

Green Star Announces Appointment of Capital Partners to Serve as Investor Relations Counsel
Business Wire (Thu, Jul 2)
 

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Management

Mr. Miodrag Andric - Chief Executive Officer, President and Chairman of the Board

Mr. Andric is the strategic thinker and visionary leader of Green Star Alternative Energy. He provides a wealth of international business experience and leads management in a solutions based approach to all corporate endeavors.

For the past seven years, he has been involved with the alternative energy sector and has an extensive background in renewable energy systems. His professional experience includes: Founder of Active Energy; Consultant to Tidewater Management; Director of Scientific Biofuel Solutions; Founder of Notos, Serbia’s premier wind energy developer.

Mike is a graduate of Sport Beograd, Serbia. He is fluent in the languages of Serbian, English, French, Italian, German, and Russian.

Mr. Jesse Medeiros De Castro - Chief Financial Officer and Director

Mr. Jesse Medeiros De Castro brings a wide range of financial experience to Green Star Alternative Energy. Concurrently Mr. De Castro serves as the Asset and Liability Analyst for North Shore Credit Union. From 2002 to 2005, Mr. De Castro was Vice-President in charge of Energy Sector Analysis for Altus Capital Corp. From 2004 to 2007, Mr. De Castro was Consultant to SBS Ltd. on alternative energy. Mr. De Castro holds a BSc in Actuarial Science from Simon Fraser University.

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Contact

Green Star Alternative Energy, Inc.

1660 Hotel Circle North - Suite 207
San Diego, CA 92108
Phone: 866-955-4723
Fax: 619-542-0555

Email: info@greenstarae.com

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FORWARD LOOKING STATEMENTS

This report includes forward-looking statements that reflect Green Star Alternative Energy, Inc. current expectations about its future results, performance, prospects and opportunities. Green Star Alternative Energy, Inc. has tried to identify these forward-looking statements by using words and phrases such as "may," "will," "expects," "anticipates," "believes," "intends," "estimates," "plan," "should," "typical," "preliminary," "we are confident" or similar expressions. These forward-looking statements are based on information currently available and are subject to a number of risks, uncertainties and other factors that could cause Green Star Alternative Energy, Inc.'s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and other factors include, without limitation, the Company's growth expectations and ongoing funding requirements, and specifically, the Company's growth prospects with scalable customers, and those outlined above. Other risks include the Company's limited operating history, the Company's history of operating losses, consumers' acceptance, the Company's use of licensed technologies, risk of increased competition, the potential need for additional financing, the terms and conditions of any financing that is consummated, the limited trading market for the Company's securities, the possible volatility of the Company's stock price, the concentration of ownership, and the potential fluctuation in the Company's operating results.

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