GreenShift Announces Plans to Open Green Technology R&D Lab.

MOUNT ARLINGTON, N.J. -- GreenShift Corporation (OTC Bulletin Board:GSHF) announced today the plans of its wholly-owned portfolio company, GreenShift Industrial Design Corporation ("GIDC"), to open a Green Technology Research and Development Laboratory.

The new laboratory will focus on two primary goals: (1) refine specific applications of GIDC's array of green technologies for GIDC products and services; and (2) to develop advanced applications of GIDC's existing and new green technologies.

GIDC's existing technologies include its Tornado Generator - a technology that utilizes supersonic air to nearly instantly grind, flash desicate and atomize targeted materials, Ovation Product's Clean Water Appliance - a device that is about the size of a fire hydrant and capable of producing 25 GPH of distilled water from any water source using only 1000 Watts of energy, or about $0.004 per gallon, and Mean Green BioFuels' biofuels processing and refining technologies.

GIDC expects to continue adding to its base of core 'killer app' green technologies, and is currently targeting additional technologies based on cost-effective use of biological systems that consume specific large-quantity, high-priority pollutants, such as carbon- and nitrogen-based pollutants, and based on the properties of certain nanoparticles with an initial view towards filtration and solar power applications.

David Winsness, chief executive officer of GIDC stated that "The R&D lab will allow us to use the core group of technologies within the GreenShift portfolio to refine specific applications and identify new opportunities that meet our profitability and environmental impact goals. We believe that each GIDC technology can have a profound impact on the environment, and we intend to see these impacts realized."

Among GIDC's immediate goals for the laboratory are the development of small scale applications of the Tornado Generator, robust field-capable small scale applications of the Ovation water purification technology, and industrial scale combined applications of the Tornado Generator and the Ovation water purification process.

About GreenShift Corporation

GreenShift Corporation is a publicly traded business development company (BDC) whose mission is to develop and support companies and technologies that facilitate the efficient use of natural resources and catalyze transformational environmental gains.

BDCs are regulated by the Investment Company Act of 1940 and are essentially publicly-traded equity funds where shareholders and financial institutions provide capital in a regulated environment for investment in a pool of long-term, small and middle-market companies through the use of senior debt, mezzanine financing, and equity funding.

GreenShift plans to use equity and debt capital to support and drive the value of its existing portfolio of companies and to make investments in a diversified mix of strategically compatible growth stage public and private businesses and technologies. GreenShift's current portfolio includes investments in the following environmentally proactive companies:

--Veridium Corporation (OTC Bulletin Board:VRDM);

--INSEQ Corporation (OTC Bulletin Board:INSQ);

--GreenWorks Corporation;

--Mean Green BioFuels Corporation;

--GreenShift Industrial Design Corporation;

--Coriolis Energy Corporation;

--TDS (Telemedicine), Inc.;

--Sterling Planet, Inc.;

--Ovation Products Corporation;

--TerraPass Inc.

In addition, GreenShift hopes to add investments in wind power, hydropower, practical centralized applications of hydrogen power, alternative fuels, infrastructure and mining to its portfolio during 2005 and 2006.

Additional information regarding GreenShift Corporation is available online at www.greenshift.com.

Safe Harbor Statement

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of GreenShift Corporation, and members of their management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.