SAN DIEGO, CA, Sept. 28 /PRNewswire-FirstCall/ - Green Star Alternative Energy, Inc. (Pink Sheets: GSAE; "GSAE" or the "Company") (http://www.greenstarae.com) announced today a new research report has been issued on the Company by Grass Roots Research and Distribution Inc., Wall Street's leading independent research firm, with a "BUY" recommendation and a $14.87 long term price target.

For the full report please visit Grass Roots' website: WWW.GRASSROOTSRD.COM

About Grass Roots Research and Distribution, Inc.:

Led by D. Paul Cohen, Grass Roots Research and Distribution, Inc. is one of Wall Street's ELITE Independent Research Firms. As founder of Bear Stearns Western Regional Offices, Paul Cohen was one of the original 12 Dirty Dozen analysts, regarded by many to be the top 12 security analysts in the nation. Mr. Cohen was also the West Coast Senior Vice President of CBWL-Hayden Stone-American Express. Mr. Cohen's partners were Sanford I. Weill (past Chairman and CEO of CitiGroup and past Chairman of Solomon Smith Barney) and Arthur Levitt (past Chairman of the Securities and Exchange Commission (SEC)).

Grass Roots Research and Distribution, Inc. includes PhD's, MD's, six CFA's (chartered financial analyst), three with CPA's (certified public accountant) and 21 analysts covering most industries. The backbone of the fundamental research targeted at stock investment includes investigative research into significant corporate events, thorough review of SEC filings, in depth financial analysis, valuations, and management profiles. The Cohen Financial and Valuation Model, is used in all research programs. The model, an analytical and portfolio management system, is a 300,000 cell model in Excel, that contains (20+) equity valuations and three (3) cash flow analytical models. The model covers 9,000 public companies. For more information, readers can visit the company's website at www.grassrootsrd.com.

About GSAE

Green Star Alternative Energy is an environmentally conscious, renewable energy company working to develop more than 300 MW (megawatts) of clean electricity through wind energy. The corporate revenue model is two-fold: the use of a renewable resource allows not only for the creation of environmentally friendly energy, but the granting of carbon (greenhouse gas) emission credits which may be traded and sold. Green Star is pursuing a significant opportunity to provide clean energy to the growing Republic of Serbia and neighbouring European countries. Through a joint venture with key wind farm and power trading company Notos, Green Star will become the nation's first developer of wind power. GSAE is focused on green technology and sustainable energy programs like wind turbines, hydro electric power generation, and other renewable electricity models.

    Investor Relations: Toll-Free: (877) 257-GSAE (4723)
    gsaeir@gmail.com
    www.greenstarae.com

FORWARD-LOOKING STATEMENTS

This press release contains 'forward-looking statements'. These are statements concerning plans, objectives, goals, strategies, expectations, estimates, intentions, projections, developments, future events, or performance, underlying (expressed or implied) assumptions and other statements that are other than historical facts. In some cases forward-looking statements can be identified by the use of forward-looking words such as 'believes,' 'expects,' 'may,' 'will,' 'should,' or 'anticipates,' 'estimates,' or the negative of these words or other variations of these words or comparable words, or by discussions of plans or strategy that involve risks and uncertainties. Management wishes to caution the reader that these forward-looking statements, including, but not limited to, statements regarding the Company's plans, goals the estimates and assumptions, and the business strategy of the Company and other matters that are not historical facts are only predictions. No assurances can be given that such predictions and the estimates regarding mineral reserves, success of mining plans, or other projections will prove correct or that the anticipated future results will be achieved. Actual events or results may differ materially. Forward-looking statements should be read in light of the cautionary statements and risks that include, but are not limited to, the risks associated with a small company, the intense competition the company faces from others, and technological changes. Any one or more of these or other risks could cause actual results to differ materially from the future results indicated, expressed, or implied in such forward-looking statements.

SOURCE Green Star Alternative Energy Inc.

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