GreyStone and Provo Name National Advisory Board; Also, Meeting of Shareholders.

Business Editors

SAN DIEGO--(BUSINESS WIRE)--Dec. 4, 2001

GreyStone Digital Technology Inc. (OTC Bulletin Board:GSTN) in conjunction with Kiboga Systems Inc., a privately held Dallas corporation, after recently announcing the intent to merge GreyStone with Provo, a private Mexican corporation that distributes Ladatel calling cards in Mexico, today named a National Advisory Board to GreyStone.

GreyStone also announced that in accordance with its bylaws the holders of not less than 10 percent of the voting power of the common stock of GreyStone Digital Technology Inc., have called a meeting of shareholders to be held at 10:00 a.m., at the Ritz Carlton Hotel Dec. 13, 2001 in Clayton, Mo.

The National Advisory Board will advise GreyStone Digital Technology (GSTN) during the transition and once the transition is completed then become directors of the company. The four new National Advisory Board members are:

Former U.S. Treasurer, Azie Taylor Morton; former U.S. Representative to the Asian Development Bank, Carl Delfeld; Richard Knight, Jr, president of KNIGHTCO OIL; and Charles T. Terrell, former chairman of the Texas Criminal Justice System.

Morton, has served as the Commonwealth of Virginia's Commissioner of Labor and Industry, and has sat on numerous private and public boards, including the Austin, Texas Housing Authority. She is presently director of marketing, as well as a consultant, at GRW Capital Corp., in Washington, D.C.

Delfeld is currently president of Chartwell Partners Inc., and a co-founder of Pacifica Financial. He was also a former advisor to the Joint Economic Committee of the U.S. Senate Finance Committee.

Knight founded KNIGHTCO in 1997. The company stores, blends and packages bulk lubricants, and is an authorized distributor for Texaco products. Previously, Knight was a director of Caltex Petroleum Corp. In 1986, he was appointed City Manager for the City of Dallas. He currently serves on the J.P. Morgan Chase Metroplex Advisory Board.

Terrell has served as a Dallas city councilman, and currently is chairman of the Dallas Crime Commission. He was chairman of the Texas Department of Corrections (the second largest prison system in the U.S.) from 1987 to 1989, and then was named first chairman of the Texas State criminal justice system. He is chairman of Unimark Insurance Companies, and vice chairman of Kiboga Systems.

GreyStone previously filed Form 8K with the SEC, where it announced that it had entered into an Agreement with Kiboga and in a separate Form 8K filing that, in conjunction with Kiboga, it had entered into merger discussions with Provo. No assurances can be given that the proposed transactions will result in a merger, business combination or business transaction and any proposed transaction are subject to a number of conditions including completion of due diligence; successful execution of a definitive binding agreement; receipt of all necessary corporate, shareholder, and governmental approvals; and other conditions customary to such transactions.

This news release contains statements that are not purely historical, and as such are forward-looking statements under the federal securities laws. These include forward-looking statements regarding management's intentions, plans, hopes, beliefs, expectations or projections of the future. These forward-looking statements involve risks and uncertainties, including without limitation, acceptance of the company's products and services; additional financing requirements; the impact of competitive products or pricing; technological changes; the effect of economic conditions; the ability to successfully commercialize the company's entertainment products; the company's dependence on key engineering, technical, and other personnel skilled in government contracting; the ability of the government to terminate contracts and subcontracts at any time; and other risks and uncertainties detailed from time to time in the company's reports filed with the Securities and Exchange Commission. One or more of these factors could affect the company's business and financial results in future periods, and could cause actual results to differ materially from plans and projections. There can be no assurance that the forward-looking statements made in this news release will prove to be accurate, and issuance of such forward-looking statements should not be regarded as a representation by the company, or any other person, that the objectives and plans of the company will be achieved. All forward-looking statements made in this news release are based on information presently available to management, and the company assumes no obligation to update any forward-looking statements.