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SCOTTSDALE, Ariz., June 15, 2010 (GLOBE NEWSWIRE) -- Green Planet Group, Inc. (OTCBB:GNPG), announced today that it had mailed 1,600 letters to its shareholders of record as of May 19, 2010. The letter is as follows:
This letter is to update you on the current status of Green Planet Group (OTCBB:GNPG) and its continuing efforts to grow into a highly profitable company with a resulting increase in shareholder value. We have struggled through one of the worst financial crises in U.S. history, which has slowed down our growth, but I am still convinced that Green Planet Group will continue to execute its growth strategy and become a successful Company.
The major reason why I'm so optimistic is that both segments of Green Planet Group's business, the Xentx/Synergyn segment and the staffing segment, are growing as detailed below:
1. For the past year, we have been negotiating with a major truck/locomotive drive train manufacturer to become their major supplier of gear lube oil. Over the past six months, our major competitors for this contract have included every major oil and lubricating company. Our subsidiary Xentx Lubricants, located in Durant, OK, has been awarded this multiyear contract, and we expect to begin production of Synergyn's unique gear lube oil within the next few weeks. This supply contract is expected to exceed $80 million annually and increase profits substantially.
2. Earlier this year we hired Gary Davidson, a diesel engine and fuel expert, to manage the effort to increase sales of our two diesel fuel additives.
1 Mr. Davidson has organized a major test currently being performed at one of the largest school bus fleets in the Country. The results will not be announced for another two months but as of today, this test has exceeded all expectations by reducing maintenance costs, equipment downtime, and emissions while improving fuel efficiency between 4% to 15%. I believe that we will have numerous opportunities to provide our products to additional school bus fleets. Our slogan is "Turning Yellow Busses Green."
3. Xentx Lubricants will begin its first diesel fuel additive railway locomotive test within 10 days. The primary goal of this test is to reduce emissions and reduce maintenance while improving fuel efficiency. The test period is relatively short, and we expect substantial certifiable emission reductions within the first 60 days. Impact on revenues is yet to be determined, but we believe that they will be significant.