Biodiesel Tax Incentive Boosts Interest in Biodiesel Industry.

BAKERSFIELD, Calif. -- Green Star Products, Inc., (OTC:GSPI), which owns 35% of American Biofuels (ABF), announced today that the Valley Voice Newspaper (see valleyvoicenewspaper.com) printed a major article entitled "Tax Incentives Boost Biofuels/Local Plants" (Oct. 21, 2001) covering Congressional Bill H.R. 4520 and its impact on the biodiesel industry and the local American Biofuels' Plant in Bakersfield, California.

The article states, "While the prices of fossil fuel hit record levels just about every day -- a new tax bill passed by Congress and likely to be signed by President Bush -- will boost renewable based biofuels like ethanol made from corn or green waste and biodiesel made from soybeans or waste food oil."

President George W. Bush officially signed the Congressional Bill H.R. 4520 into law on Friday, October 22, 2004.

The article also states, "The measure -- called the American JOBS bill (H.R. 4520) includes tax breaks for farmers, manufacturers and small businesses and includes key provisions likely to ramp up the volume and availability of E85 ethanol and biodiesel blended with petroleum diesel. Significantly, it allows farm co-ops for the first time to pass credits to cooperative members spurring more interest in biofuels."

The article further quotes the National Biodiesel Board (NBB)(see biodiesel.org), "A booming market for biodiesel could do more than reduce dependence on foreign sources of oil, but could add $1 billion to the bottom line of US farm income."

The incentive is expected to increase biodiesel demand from an estimated 30 million gallons in fiscal year 2004 to at least 124 million gallons per year, based on a United States Department of Agriculture study.

A Congressional Committee, with appointed members from the House and Senate, was in session prior to the voting on this tax bill. ABF representatives were flown to Washington, D.C., by the NBB on October 5th & 6th. The purpose of the visit, as representatives of the biodiesel industry from the West Coast, was to meet key Senators, Congressmen and their staffs and to lobby for the passing of this important bill. The Senate passed the American JOBS Creation Act, H.R. 4520, on Monday October 11, 2004.

The entire alternative fuels industry (including ethanol and biodiesel) recognize the tremendous task of the many key legislators and President Bush for their support in reviewing and promoting the vital provisions of this bill to support US energy independence and American farmers.

Green Star Products, Inc. is an environmentally friendly company dedicated to creating innovative cost-effective products to improve the quality of life and clean up the environment. GSPI is involved in the production of renewable clean-burning biodiesel and other products including lubricants, additives and devices that reduce emissions and improve fuel economy in vehicles, machinery and power plants. For more information, see GSPI's Web site at http://www.GreenStarUSA.com or call Investor Relations at 619-864-4010, or fax [phone], or email [e-mail]. Information about trading prices and volume can be obtained at several Internet sites including http://www.bloomberg.com and http://www.bigcharts.com under the ticker symbol "GSPI."

Forward-looking statements in the release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the company's products, increased levels of competition for the company, new products and technological changes, the company's dependence on third-party suppliers, and other risks detailed from time to time in the company's periodic filings with the Securities and Exchange Commission.