GRNTF iPath Global Carbon (PK)

GreenMan Technologies, Inc. (AMEX: GRN), a leading recycler of over 30 million scrap tires per year in the United States, today announced the following: Bob Davis, GreenMan's President and Chief Executive Officer stated," While a majority of our inbound Southeastern tire flow does not originate in the hardest hit areas of Louisiana, Mississippi and Alabama, we do anticipate our near term inbound tire flow and performance will be negatively impacted by the effects of Hurricane Katrina and continued rising fuel costs. With regional and national fuel prices rising 25 to 100 percent almost overnight, our ability to immediately pass along these significant increases to our customers is limited. We will continue to do our best to mitigate the impact of these unfortunate events on our overall corporate performance and provided the best possible service to our customers during the coming months." GreenMan was founded in 1992 and today is comprised of six operating locations that collect, process and market scrap over 30 million scrap tires in whole, shredded or granular form. We are headquartered in Lynnfield, Massachusetts and currently operate tire processing operations in California, Georgia, Iowa, Minnesota, Tennessee and Wisconsin and operate under exclusive agreements to supply whole tires used as alternative fuel to cement kilns located in Alabama, Florida, Georgia, Illinois, Missouri and Tennessee. "Safe Harbor" Statement: Under the Private Securities Litigation Reform Act With the exception of the historical information contained in this news release, the matters described herein contain 'forward-looking' statements that involve risk and uncertainties that may individually or collectively impact the matters herein described, including but not limited to the possibility that we may not realize the benefits expected from our new Tennessee operation, product acceptance, economic, competitive, governmental, seasonal, management, technological and/or other factors outside the control of the Company, which are detailed from time to time in the Company's SEC reports, including the quarterly report on Form 10-QSB for the fiscal period ended June 30, 2005. The Company disclaims any intent or obligation to update these "forward-looking" statements.