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Green Machine Development Corporation Issues Corporate Update; Company Signs Two Letters of Intent to Further Expand its Real Estate Development.

Business Editors/Real Estate Writers

FORT PIERCE, Fla.--(BUSINESS WIRE)--Oct. 14, 2003

Green Machine Development Corporation (OTCBB:GMCD) (Green Machine), today announced its continued progress toward strategic goals in the Company's business plan.

Green Machine recently relocated its corporate headquarters to Fort Pierce, Florida in efforts to pursue potential real estate acquisitions in exchange for a parcel that the Company presently owns, on the Intracostal Waterway (ICW), in Ocean Ridge, Florida.

In other corporate developments, the Board of Directors & shareholders accepted the resignation of June-Ann Fox, as Director and President on September 30, 2003. In her replacement, Executive Board Member, James L. Schmidt II, Esquire, was named President and he will remain on the board along with Jerome Sansone. The Board expects to elect a new Director in the very near future.

The Company has also recently executed two letters of intent for real estate acquisitions and for the purchase of a modular home plant. Upon completion of acquiring necessary financing, the Company expects to acquire the title to said modular plant, begin the required production process and continue with additional acquirements of realty parcels throughout Florida.

With the exception of historical information contained in this press release, this press release includes forward-looking statements made under the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, including but not limited to the following: product development difficulties; ability to obtain financing; market demand and acceptance of its products; the impact of changing economic conditions; business conditions in the Real Estate Development industries; reliance on third parties, including potential suppliers, licensors and licensees; the impact of competitors and their products; risks concerning future technology; and other factors detailed in this press release and in the company's Securities and Exchange Commission filings.
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Publication:Business Wire
Date:Oct 14, 2003
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