GRNTF iPath Global Carbon (PK)

GreenMan Technologies, Inc. (AMEX: GRN), a leading recycler of over 20 million scrap tires per year in the United States, today announced it has been granted an extension of time to regain compliance with the American Stock Exchange's (the "Exchange") continued listing standards. On January 5, 2006, GreenMan received notice from the Exchange indicating GreenMan was not in compliance with the Exchange's requirements for continued listing set forth in Sections 134 and 1101 of the Exchange's Company Guide with respect to GreenMan's failure to file its Annual Report on Form 10-KSB for the year ended September 30, 2005 with the Securities and Exchange Commission. GreenMan was provided the opportunity to submit a plan of compliance to the Exchange and on January 18, 2006 submitted its plan to the Exchange. On February 2, 2006, GreenMan was notified the Exchange had accepted the company's plan of compliance and granted GreenMan an extension of time through March 20, 2006 to regain compliance with the continued listing standards. GreenMan will be subject to periodic review by the Exchange Staff during the extension period. If GreenMan fails to make progress consistent with the plan or to regain compliance with the continued listing standards by the end of the extension period, the Exchange may initiate delisting proceedings. GreenMan may appeal any determination to initiate delisting proceedings. Chuck Coppa, GreenMan's Chief Financial Officer stated, "Our American Stock Exchange listing is very important to us and we are pleased the Exchange has accepted our plan of compliance". Mr. Coppa added, "We intend to file our Annual Report on Form 10-KSB by the end of the month, in advance of the March 20, 2006 deadline." "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.