Lee Swanson Appointed New CEO of Greeland Corporation.

SAN DIEGO--(BUSINESS WIRE)--July 27, 1998--

-- Three New Members Appointed to the Board -- Delivery of First Check Cashing Machine Slated for August -- AirLink Pilot Testing Scheduled for October

Greenland Corporation (OTCBB:GLCPD) today announced the appointment of Lee Swanson to the position of chief executive officer of the Company. Mr. Swanson, who has also been appointed to the board, was hired by the Company as president in June, 1998, bringing with him twenty-five years of business engineering, restructuring and management experience. Previously Mr. Swanson served as president of Gateway Educational Products, a $100 million education products company, and has held executive positions with Kaiser Aluminum & Chemical Corporation, Pleion Corporation, Stuart Ironsides, Inc., and Servatron, Inc.

Commenting on the appointment, Mr. Swanson stated, "I am extremely pleased that the board has taken the initiative to elevate me to the most senior management position inthe company. I take that as a clear signal from this group of experienced business people that they have endorsed my new strategy for Greenland, designed to speed up the launch of our two leading edge automation technologies."

Mr. Eric Gaer, who resigned as CEO but remains as a member of the board, will continue to provide consulting services to the Company, particularly in developing and executing the marketing strategy for the AirLink(TM) automated meter reading technology.

The Company also announced that in addition to Mr. Swanson, E.P. (Gene) Cross and George Godwin have been appointed to the board. Mr. Cross, who has agreed to serve as chairman of the board, retired in 1997 as a board member, executive vice president and chief financial officer of BWIP International, Inc. (now Flowserve Corporation), a manufacturer of industrial products for the petroleum industry. Mr. Godwin, until recently, served as vice president of the Nuclear Business Unit at BWIP. These two individuals bring with them an extensive background in manufacturing, technology development and management, as well as significant contacts in the utility industry.

Mr. Swanson elaborated, "Gene Cross and George Godwin joined the board at my request. We're a small company, but we've got ambitious plans, and the counsel of these two accomplished, well-connected businessmen will contribute materially to our future success. It was important to me, during the early stages of executing my plans, that we have a board that can facilitate both the internal development of our technologies, and the roll-out of those technologies into the market place."

Mr. Cross and Mr. Godwin join Dr. Richard Green, also a board member and president of International Power & Environmental Company, a company engaged in the development of utility, environmental and technology businesses throughout the world. Dr. Green served as a senior engineer at Boeing and has held numerous positions with the Jet Propulsion Laboratory were he worked on a number of projects for NASA, including serving as a primary investigator of the Apollo 12 Mission, and the Moon Landing. Dr. Green's background and experience are expected to play a prominent role in rolling out the AirLink system.

Looking forward, Mr. Swanson said, "I joined Greenland Corporation because I am convinced of the tremendous potential of the Company's two core technologies. My mission is to get those technologies into market-ready products, and then get those products into the hands of customers as quickly as possible. I have set a target to have the first check cashing ATM available for demonstrations in early August, 1998, and the first deliveries to customers beginning in September, 1998. With AirLink, five automated meter reading units should be available for pilot testing in early October, 1998."

Greenland Corporation's strategy is to bring to market leading edge automation technologies that have the capacity to redefine industry standards. Check Central, a proprietary system that provides automated check cashing, money orders and ATM services from automated free-standing retail units, is designed to take the place of overhead intensive check cashing stores. Some 15,000 check cashing stores in the United States generate over $1 billion in check cashing fees annually. The AirLink system is a patent-pending wireless communications technology for automated reading of utility meters. The Company's strategy is to market this technology to utility companies representing a market of approximately 300 million residential utility meters. For more information visit our website at www.greenlandcorp.com.

    CONTACT:  Greenland Corporation
               619/566-9604
               or
               Magnum Financial Group, LLC
               Michael Manahan, 213/892-2280
               E-mail: [e-mail]